Sebastian, FL - Newest New Home Sales Stay Level
Posted on: May 07, 2012 09:46:17 AM
New home sales in the Sebastian, FL market remained steady year-over-year in February, staying flat after dropping year-over-year in January from the year earlier. Sales remained level at 26 from a year earlier after the figure moved from 16 in January 2011 to 12 in January 2012.
A total of 307 new homes were sold during the 12 months that ended in February, equal to the number of new homes sold for the year that ended in January.
Out of all housing sales, new home sales accounted for 9.5%. This is a rise from 7.8% of sales a year earlier. Following a year-over-year increase in January, sales of new and existing homes dropped year-over-year in February.
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Pricing and Mortgage Trends
The average price of new homes jumped year-over-year 66.8% in February to $418,336 per unit. This rise is an improvement over the 11.9% surge in January year-over-year.
The average mortgage size on newly sold homes saw a decline year-over-year in contrast to new home prices. Average mortgage size declined 21.4% to $138,566 in February from a year earlier. Average mortgage size went from $129,928 in January 2011 to $130,164 in January 2012. For new home sales, the percentage of the sale price that was being financed slid 37.2 percentage points year-over-year to 33.1% in February 2012.
Sebastian, FL - Newest New Home Sales Stay Level
Posted on: May 07, 2012 09:46:17 AM
New home sales in the Sebastian, FL market remained steady year-over-year in February, staying flat after dropping year-over-year in January from the year earlier. Sales remained level at 26 from a year earlier after the figure moved from 16 in January 2011 to 12 in January 2012.
A total of 307 new homes were sold during the 12 months that ended in February, equal to the number of new homes sold for the year that ended in January.
Out of all housing sales, new home sales accounted for 9.5%. This is a rise from 7.8% of sales a year earlier. Following a year-over-year increase in January, sales of new and existing homes dropped year-over-year in February.
Pricing and Mortgage Trends
The average price of new homes jumped year-over-year 66.8% in February to $418,336 per unit. This rise is an improvement over the 11.9% surge in January year-over-year.
The average mortgage size on newly sold homes saw a decline year-over-year in contrast to new home prices. Average mortgage size declined 21.4% to $138,566 in February from a year earlier. Average mortgage size went from $129,928 in January 2011 to $130,164 in January 2012. For new home sales, the percentage of the sale price that was being financed slid 37.2 percentage points year-over-year to 33.1% in February 2012.
Other Market Trends
As a share of new home sales, single-family home sales have climbed from last year while the share belonging to attached units has fallen. Single-family home sales grew from 84.6% of new sales in February 2011 to all of sales in February 2012. At the same time, the share of new home sales belonging to attached units sank to no part of sales from 15.4% of sales.
There was a 28.7% fall year-over-year in the average unit size of newly sold homes to 1,391 square feet in February 2012. In January, the average size of new homes sold went from 1,977 square feet a year earlier to 1,993 square feet.
Foreclosures and real estate owned (REO) sales decreased in February from a year earlier, but remained a drag on the market. Together, foreclosures plus REO sales made up 38.7% of existing home sales, down from 54.9% a year earlier. The percentage of existing home sales involving foreclosures dipped to 20.6% in February from 22.9% a year earlier while REO sales as a percentage of existing home sales fell to 18.1% from 32.0% a year earlier.
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Source: Housing Intelligence