New Home Prices Rise in Tampa According to Newest Figures, Sales Drop
Posted on: Jul 06, 2014 07:36:47 AM
In the Tampa, FL market in April, new home closings fell year-over-year, a move downward following a gain in March 2014. There was a 5.8% decline in new home closings from a year earlier. This came on the heels of a 3.9% hike year-over-year in March.
A total of 5,960 new homes were sold during the 12 months that ended in April, down from 5,988 for the year that ended in March.
Out of all housing closings, new home closings represented 6.5%. New home closings were 6.7% of overall closings last year. After rising year-over-year in March, closings of new and existing homes dropped year-over-year in April.
Pricing and Mortgage Trends
The average per-unit price of newly sold homes jumped year-over-year to $281,668 in April, up 17.0% from last year. This gain is an improvement over the 14.3% lift in March year-over-year.
The average mortgage size on newly sold homes grew year-over-year along with the average price of new homes. It jumped 12.7% in April from a year earlier to $241,628. In March 2014, average mortgage size rose 10.6% from a year earlier.