New Home Prices Climb in Tallahassee According to Recent Figures, Sales Decline
Posted on: May 06, 2013 07:36:26 AM
In the Tallahassee, FL market in February, closings of new homes dropped year-over-year, but the decline was less than the year-over-year decline in January. New home closings moved from 15 a year earlier to 11 after the figure moved from 16 in January 2012 to 11 in January 2013.
A total of 132 new homes were sold during the 12 months that ended in February, down from 136 for the year that ended in January.
Last year, 15 of 244 total closings were new homes, and this percentage saw a decline as new home closings this year made up 11 of the 304 total closings. For new and existing homes, closings grew year-over-year in February after also increasing in January year-over-year.
Pricing and Mortgage Trends
The average new home price in February 2013 went up to $209,764 from $198,447 a year ago. This came after a 16.4% decline in January from a year earlier.
From the year-ago figure of $178,115, the average mortgage size on new homes moved up to $186,863. Average mortgage size on new homes went from $205,699 in January 2012 to $192,982 in January 2013.