Springfield Gardens, New York Real Estate Trends-Third Quarter Report September 30, 2010
Springfield Gardens, New York Real Estate
Springfield Gardens, New York 11413
The Springfield Gardens, New York Real Estate Trends-Third Quarter Report September 30, 2010 covers Springfield Gardens, New York Real Estate market activity, year to year, for the 4 year period ended September 30, 2010.
The report focuses on the number of Springfield Gardens, New York Real Estate homes sold, the median sales price and median days on market with particular attention to foreclosure and short sale data. For the years indicated the periods covered are as indicated in the following table.
|
Year |
2007 |
2008 |
2009 |
2010 |
|
Period Covered |
10/1/2006-9/30/2007 |
10/1/2007-9/30/2008 |
10/1/2008-9/30/2009 |
10/1/2009-9/30/2010 |
The residential community of Springfield Gardens is located in the southeastern part of the Borough of Queens in New York City, NY. Springfield Gardens is bounded to the north by Saint Albans, to the east by Laurelton and Rosedale, to the south by John F. Kennedy International Airport, and to the west by Farmers Boulevard.
The area was settled by the Dutch in the 1660s and was farmed until the mid nineteenth century.
Springfield Gardens, New York Real Estate Number of Homes Sold
The total number of Springfield Gardens, New York Real Estate homes sold for the four year period ended September 30, 2010 increased from 99 in 2007 to 103 in 2010. The volume of Springfield Gardens , New York Real Estate sales realized its biggest drop from 2007, when it was 99 to 2008, when it was 79. The home sales volume increased in 2009 and 2010.
A closer look at the type of sales over the four year period reveals an increase in the number of Springfield Gardens, New York Real Estate foreclosures and Springfield Gardens, New York Real Estate short sales. The number of foreclosures increased from 3 in 2007 to 34 in 2010. The number of short sales increased from zero in 2007 to 9 in 2010.
With total Springfield Gardens, New York Real Estate sales of 103 for 2010, the 34 Springfield Gardens, New York Real Estate foreclosure sale represents 33% of total sales and the 9 Springfield Gardens, New York Real Estate short sales represents 8.7% of total sales.
Springfield Gardens, New York Real Estate Median Sales Price Overview
The median sales price of Springfield Gardens, New York Homes over the 4 year period ended September 30, 2010 declined from $465,000 in 2007 to $310,000 in 2010 for a decrease of 33.3%. The median sales price has been decreasing year to year from 2007 to 2010.
The growth in volume of Springfield Gardens, New York Real Estate foreclosures, short sales and the economic downturn have been elements in declining median sales prices. The median sales price of Springfield Gardens, New York Real Estate foreclosures decreased from $301,000 in 2007 to $270.000 in 2010. The first Springfield Gardens, New York Real Estate short sale sold data was available in 2008. The Springfield Gardens, New York Real Estate short sale median sales price decreased from $365,000 in 2008 to $280,000 in 2010.
Springfield Gardens, New York Real Estate Days on Market Overview
The Springfield Gardens, New York Real Estate days on market decreased from 59 days in 2007 to 48 days in 2010.
Data Source: Multiple Listing Service of Long Island
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