SEBASTIAN – Real estate for sale in Sebastian, Florida had more closings of new homes year-over-year, but there are signs that the market may be leveling, according to data provided by metrostudy.
Indian River County real estate records also show a boost of 22.6% for new home closings from the year earlier to 65. New home closings in Sebastian saw a 61.7% rise year-over-year in August.
Real estate data showed that 596 new homes were sold during the 12 months that ended in September, up from 584 for the year prior. This indicates a rise from 10.6% of the total closings a year earlier.
While real estate sales remained steady in August from a year earlier, closings of new and existing homes slid year-over-year in September.
September showed a 4.0% decline year-over-year in the average per-unit price of newly sold homes, settling at $254,498. The average mortgage size grew 5.0% to $198,354 in September from a year prior.
The average mortgage size on newly sold homes saw a 6.7% surge year-over-year in August 2016.
Market trends in Sebastian also revealed that closings of attached units, as a percentage of new home closings, have grown since 2015 while closings of single-family homes have dropped.
Foreclosures in Sebastian continued to decline from a year earlier in September but did not appear to be a burden on the real estate market.
The percentage of existing home closings involving foreclosures dropped from 7.6% in September 2015 to 6.8% in September 2016
REO closings as a percentage of existing home closings in Sebastian dropped to 9.4% from 22.6% a year earlier.
Signup for the free Sebastian Daily newsletter for your chance to win free dinners and merchandise!
Copyright 2021 SebastianDaily.com All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.