New Home Prices Rise in Springfield According to Newest Figures, Sales Decrease
Posted on: Mar 06, 2014 07:41:05 AM
Closings of new homes declined year-over-year in November in the Springfield, MA market, but the decline was less than the year-over-year decline in October. New home closings moved from 3 a year earlier to 2 after the figure moved from 10 in October 2012 to 4 in October 2013.
A total of 34 new homes were sold during the 12 months that ended in November, down from 35 for the year that ended in October.
New home closings were 2 out of the 498 total closings, a move on a percentage basis from 3 of 506 a year earlier. Following a year-over-year decline in October, closings of new and existing homes also sank year-over-year in November.
The average price for newly sold homes moved north to $324,600 from $215,000 a year ago. This followed a 20.7% gain in October year-over-year.
Other Market Trends
As a share of new home closings, single-family home closings have risen from last year while the share belonging to attached units has fallen.