Area housing market stays ahead of U.S.
Jun 09, 2005
Springfield’s average home sales price jumped $10,000 in 2004, averaging $126,240. This represents an 8.7% increase and shows the first solid increase in home values since 2001 when they increased 10.1%.
As depicted in the graph below, Springfield home values have changed on a 3-year cycle—starting with a significant value increase followed by a 2-year plateau.
National figures show new home sales for 2004 provide a value increase of 7.8%--a healthy figure for home values in the U.S. During that same time frame Springfield’s metro area produced a 10.7% growth in new home sales price.
Visit us at www.business4springfield.com for additional information regarding developments and data on the Springfield area.
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