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.