SPRINGFIELD REAL ESTATE MARKET IS HOT; PRICES JUMP, AND SALES ARE QUICK

This spring has been hot! There are an unprecedented 54 homes currently Under Contract. Houses come on the market, and go to contract relatively quickly (see Days on Market in the list below). Of the houses pending sale, they range in price from $155,000 to $1,275,000 – so there is interest across all the price points.

When comparing prices in June 2014 versus June 13, there has only been a 2% increase in average sale price. However, in the first half of the year (January to June, 2014 vs. 2013), prices have jumped 14% year-over-year.

Just in the month of June, we’ve seen 25 properties get to the closing table. And it’s been a nice mix across various price ranges. July promises to continue in this fashion. All the pending sales will close and Buyer interest is still strong among the newly listed homes.

Home Sales (June 1-30, 2014):

445 Morris Ave, #4-D - Condo - 1 Bed/1 Bath - $119,000 (originally listed at $119,000; on market for 44 days)

76-C Troy Dr, Bldg 18 - Condo - 1 Bed/1 Bath - $157,000 (originally listed at $169,000; on the market for 74 days)

190 Morris Ave. #21 - Condo - 1 Bed/1 Bath - $159,000 (originally listed at $159,000; on the market for 9 days)

77-D Troy Dr., Bldg 10 - Condo - 1 Bed/1 Bath - $159,000 (originally listed at $159,900; on market for 30 days)

19_B Troy Dr., Bldg 2 - Condo - 1 Bed/1 Bath - $190,000 (originally listed at $199,000; on market for 32 days)

87-D Troy Dr., Bldg 11 - Condo - 2 Bed/1 Bath - $270,000 (originally listed at $274,900; on market for 18 days)

23-A Troy Dr., Bldg 3 - Condo - 3 Bed/2 Bath - $270,000 (originally listed at $274,900; on market for 9 days)

303 Hillside Ave. - Ranch - 2 Bed/2 Bath - $262,000 (originally listed for $299,000; on market for 64 days)

7 Kipling Ave. - Ranch - 2 Bed/2 Bath - $315,000 (originally listed for $319,000; on market for 110 days)

38 Clinton Ave. - Colonial - 3 Bed/1.5 Bath - $310,000 (originally listed for $320,000; on market for 31 days)

155 Pitt Rd. - Ranch - 3 Bed./1.5 Bath - $365,200 (originally listed for $399,900; on market for 10 days)

30 Garden Oval - Split level - 3 Bed/2.5 Bath - $365,000 (originally listed for $390,000; on market for 92 days)

18 Marcy Ave. - Colonial - 3 Bed/1.5 Bath - $359,000 (originally listed for $359,900; on market for 12 days)

502 Park Place - Townhouse - 2 Bed/3.5 Bath - $370,000 (originally listed at $379,900; on market for 38 days)

110 Kew Dr. - Colonial - 3 Bed/1 Bath - $380,000 (originally listed at $385,000; on the market for 21 days)

90 Henshaw Ave. - Colonial - 3 Bed/1.5 Bath - $420,000 (originally listed at $399,000; on the market for 9 days)

6 Springbrook Rd. - Colonial - 3 Bed/1.5 Bath - $403,000 (originally listed at $409,900; on market for 13 days)

175 Milltown Rd. - Split Level - 4 Bed/2.5 Bath - $420,000 (originally listed at $469,000; on market for 151 days)

17 Cottler Ave. – Cape Cod - 4 Bed/2.5 Bath - $449,000 (originally listed at $449,000; on market for 57 days)

517 Mountain Ave. - Colonial - 3 Bed/2 Bath - $445,000 (originally listed at $475,000; on market for 84 days)

137 Laurel Dr. - Split Level - 5 Bed/2 Bath - $475,000 (originally listed for $475,000; on market for 18 days)

296 Baltusrol Way - Colonial - 5 Bed/2.5 Bath - $460,000 (originally listed for $498,000; on market for 87 days)

32 Gail Ct. - Split Level - 4 Bed/2.5 Bath - $455,000 (originally listed for $499,000; on market for 44 days)

65 Garden Oval - Custom - 3 Bed./2.5 Bath - $555,500 (originally listed for $535,000; on market for 9 days)

5 Juniper Way - Split Level - 5 Bed/2.5 Bath - $615,000 (originally listed for $599,000; on market for 8 days)