Springfield, IL - Local Housing Data - Summary

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Springfield, IL Local News

Latest Numbers Show New Home Prices Rise in Springfield, Sales Steady

Posted on: Aug 08, 2014 11:50:52 AM

New home closings in the Springfield, IL market stayed the same year-over-year in April, staying flat after dropping year-over-year in March from the year earlier. Closings remained level at 8 from a year earlier after the figure moved from 14 in March 2013 to 7 in March 2014.

A total of 98 new homes were sold during the 12 months that ended in April, equal to the number of new homes sold for the year that ended in March.

8 of the 256 total closings were new home closings, a shift on a percentage basis from 8 out of 288 a year earlier. Following a year-over-year decline in March, closings of new and existing homes also slid year-over-year in April.

Pricing and Mortgage Trends

The average price for newly sold homes moved north to $223,000 from $200,750 a year ago. This followed a 11.3% decline in March from a year earlier.

Average mortgage size on newly sold homes saw a decline year-over-year from $198,275 to $195,906. Average mortgage size on new homes went from $217,594 in March 2013 to $261,942 in March 2014.

 
 
 

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