Springfield Gardens NY Homes for Sale and Real Estate Trends Report 2010-2013

Springfield Gardens NY Homes for Sale and Real Estate Trends Report 2010-2013

Springfield Gardens NY Real Estate

Springfield Gardens, NY

When purchasing or selling Springfield Gardens NY Real Estste, it is important to have information on the vitality of the market, indicated by the number of homes that have sold, if home prices are increasing or decreasing and the effect of foreclosures and short sales.

The Springfield Gardens NY Homes for Sale and Real Estate Trends Report covers Springfield Gardens NY Real Estate market activity, year to year, for the 4 year period ended December 31 2013.

The report focuses on the number of Springfield Gardens NY homes sold and median sales price with particular attention to foreclosure and short sale data. A Springfield Gardens NY Search for Homes link is also available. For the years indicated, the periods covered are as follows

Springfield Gardens, NY Overview

Springfield Gardens, NY was first settled by Europeans in 1660, and was subsequently farmed until the mid nineteenth-century. The consolidation of the borough of Queens, creation of
the Springfield Railraoad station by the New York and Rockaway Railroad and its connection to the south side railroad of Long Island at Springfield in 1871 were seminal in the areas development.

Major residential development came in the 1920s as Long Island Rail Road service was
expanded to the area at the Springfield Gardens station (closed in 1979).

Springfield Gardens is located in southeastern area of the New York City borough of Queens.
It is bound on the north by St. 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 neighborhood is served by Queens Community Board  12.

Springfield Gardens NY Real Estate Sold

The total number of Springfield Gardens NY homes sold for the four year period ended December 31 2013 decreased from 101 in 2010 to 85 in 2013. This represents a 15.8% decrease in sales volume. The volume of Springfield Gardens NY Real Estate sales realized its first increase in the four year period from 71 in 2012 to 85 in 2013.

A closer look at the type of sales over the four year period reveals a decrease in the overall  number of Springfield Gardens NY Real Estate foreclosures and Springfield Gardens NY Real Estate short Sales. The number of foreclosures decreased from 35 in 2010 to 5 in 2013. The number of short sales increased from at 7 in 2010 and 12 in 2013.

With total Springfield Gardens, NY Real Estate sales of 85 for 2013, the 12 Springfield Gardens, NY short sales represents 14.1% of total sales. Springfield Gardens, NY  Real Estate foreclosures acconted for 5.9 % of total sales. 

Springfield Gardens, NY Real Estate Median Sales Price

The median sales price of Springfield Gardens, NY Homes over the 4 year period ended December 31 2013 has increased from $307,000 in 2010 to $355,000 in 2013. The median sales price realized its biggest increase from $319,500 in 2011 to $355,000 in 2013, a 11.1% increase.

The increase in  Springfield Gardens NY foreclosure median sales price, stable short sale median sales price from 2013, tightening real estate supply and an improvibg economic picture are factors in strengthening the Springfield Gardens NY Real Estate market.