New Home Prices Increase in Springfield According to Latest Figures, Sales Drop
Posted on: Apr 06, 2014 07:40:45 AM
In January, there was a drop year-over-year in new home closings in the Springfield, IL market, sliding after a growth in December 2013. New home closings moved from 6 a year earlier to 4 after the figure moved from 2 in December 2012 to 4 in December 2013.
A total of 107 new homes were sold during the 12 months that ended in January, down from 109 for the year that ended in December.
4 of the 138 total closings were new home closings, a shift on a percentage basis from 6 out of 182 a year earlier. For new and existing homes, closings slid in January after also declining in December year-over-year.
Pricing and Mortgage Trends
The average price of new homes rose to $263,525 from last year's $191,667. This was on the heels of a 29.1% hike in December year-over-year.
Average mortgage size on new homes increased to $220,948 from $149,026 last year. Average mortgage size on new homes went from $211,675 in December 2012 to $266,970 in December 2013.