Prices of New Homes Gain in Springfield, Sales Decrease According to Latest Data
Posted on: Nov 12, 2013 07:45:14 AM
In the Springfield, IL market in August, new home closings sank year-over-year, sliding after a growth in July 2013. New home closings moved from 10 a year earlier to 9 after the figure moved from 8 in July 2012 to 11 in July 2013.
A total of 93 new homes were sold during the 12 months that ended in August, down from 94 for the year that ended in July.
New home closings were 9 out of the 379 total closings, a move on a percentage basis from 10 of 382 a year earlier. After declining in July from a year earlier, closings of new and existing homes remained level in August.
Pricing and Mortgage Trends
The average price of new homes was $279,611, an increase from $232,150 a year earlier. This followed a 21.9% surge in July year-over-year.
Average mortgage size on new homes rose from $172,310 to $224,574. Average mortgage size on new homes went from $186,720 in July 2012 to $232,841 in July 2013.