Home sales increase in Springfield while prices drop

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SPRINGFIELD -  Unit home sales for single-family homes increased while prices decreased in the Capital Area during November 2012, according to the Capital Area Association of REALTORS (CAAR).

For the month of November, the median home sale price (for all single-family homes and condominiums) was $106,000, reflecting a slight decrease of $300 from the November 2011 price of $106,300.  The year-to-date median sale price through November of 2012 was 114,000, reflecting an increase of 3.6 percent over the $110,000 price during the same period in 2011.  The median is a typical market price where half the homes sold for more, half sold for less. 

According to CAAR, 278 homes were sold in November 2012 as compared to 238 homes sold in November 2011, reflecting a 16.8 percent increase.  Year-to-date homes sales through November of 2012 totaled 3,261, reflecting a 10.4 percent increase over the 2,953 sales year-to-date through November of 2011.  "With one month to go in the year 2012 home sales have already eclipsed all of 2011," said REALTOR Don Cave, president of the Capital Area Association of REALTORS. "That bodes well for a strong finish to 2012 as we poise ourselves for a robust 2013," said Cave.

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