Recent Numbers Show New Home Prices Climb in Springfield, Sales Steady
Posted on: May 06, 2013 07:35:10 AM
Closings of new homes in the Springfield, MA market remained steady year-over-year in January, staying flat after dropping year-over-year in December from the year earlier. Closings remained level at four from a year earlier after the figure moved from five in December 2011 to one in December 2012.
A total of 76 new homes were sold during the 12 months that ended in January, equal to the number of new homes sold for the year that ended in December.
Following a decline in December year-over-year, closings of new and existing homes rose year-over-year in January.
Pricing and Mortgage Trends
The average new home price in January 2013 went up to $285,750 from $161,500 a year ago. This was on the heels of a 69.5% fall in December from a year earlier.
Average mortgage size on new homes rose from $80,000 to $263,333.