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.