Springfield, IL - Local Housing Data - Summary

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Springfield, IL Local News

Latest Figures Indicate Prices of New Homes Climb, Sales Stay Level in Springfield

Posted on: Jul 06, 2014 07:35:07 AM

Closings of new homes in the Springfield, IL market remained unchanged 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. Closings of new and existing homes fell year-over-year in April after also falling in March year-over-year.

Pricing and Mortgage Trends

The average new home value went from $200,750 last year to $223,000. This was on the heels of a 11.3% drop in March from a year earlier.

There was a decline in average mortgage size on new homes, going from $198,275 last year to $195,906 in April 2014. Average mortgage size on new homes went from $217,594 in March 2013 to $261,942 in March 2014.

 
 
 

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