Prices of New Homes Increase in Tampa, Sales Decrease According to Latest Data
Posted on: Apr 06, 2014 07:42:42 AM
In the Tampa, FL market in January, closings of new homes slid year-over-year, sliding down after a hike in December 2013. New home closings saw a 17.7% decline from a year earlier to 283. This came after a 9.6% rise year-over-year in December.
A total of 5,900 new homes were sold during the 12 months that ended in January, down from 5,961 for the year that ended in December.
Out of all housing closings, new home closings represented 5.2%. A year earlier, new home closings accounted for 6.2% of total closings. Following a year-over-year rise in December, closings of new and existing homes slid year-over-year in January.
Pricing and Mortgage Trends
In January, the average price of newly sold homes climbed year-over-year to $280,596 per unit, a 22.4% bump. This boost is better than the 15.3% gain in December year-over-year.
There was a surge year-over-year in the average mortgage size on new homes along with new home prices. In January 2014, average mortgage size grew 16.1% from a year earlier to $238,643. Average mortgage size increased 13.4% in December 2013 from a year earlier.