Newest Figures Show New Home Prices Gain, Sales Fall in Tallahassee
Posted on: Aug 08, 2014 11:52:53 AM
New home closings declined year-over-year in May in the Tallahassee, FL market, and the decline was by a larger percentage than the April 2014. New home closings moved from 11 a year earlier to 4 after the figure moved from 6 in April 2013 to 4 in April 2014.
A total of 39 new homes were sold during the 12 months that ended in May, down from 46 for the year that ended in April.
On a percentage basis, new home closings as a part of total closings decreased to 0.8% from 1.9% a year earlier. For new and existing homes, closings slid in May after also declining in April year-over-year.
Pricing and Mortgage Trends
The average new home value went from $153,318 last year to $341,375. This came after a 40.7% lift in April year-over-year.
The average mortgage size on new homes was $307,333, up from $139,110. Average mortgage size on new homes went from $143,480 in April 2013 to $175,645 in April 2014.