Freshest Numbers For Tampa Show New Home Closings and Prices Rise
Posted on: Dec 06, 2013 07:46:50 AM
Closings of new homes in the Tampa, FL market gained year-over-year in September, but signs of market leveling were showing as the percentage rise was less than August 2013. Closings rose 14.3% from a year earlier to 431. This followed a 36.7% jump year-over-year in August.
A total of 5,783 new homes were sold during the 12 months that ended in September, up from 5,729 for the year that ended in August.
Out of all housing closings, new home closings made up 8.0%. This is an increase on a percentage basis, as new home closings were 6.6% of total closings a year ago. Following a year-over-year rise in August, closings of new and existing homes slid year-over-year in September.
Pricing and Mortgage Trends
In September, the average price of newly sold homes grew year-over-year to $264,805 per unit, a 8.5% gain. This lift is smaller than the 8.9% bump in August year-over-year.
There was a bump year-over-year in the average mortgage size on new homes along with new home prices. In September 2013, the average mortgage size was $232,098, a 10.1% lift from a year earlier. In August 2013, average mortgage size on newly sold homes saw a 6.8% boost year-over-year from a year earlier.