Springfield Gardens, New York Real Estate Trends-December 8 2011

Springfield Gardens, New York Real Estate Trends-December 8 2011

Springfield Gardens, NY Homes for Sale

Springfiel Gardens, NY Real Estate

Springfield Gardens, New York 11413

The Springfield Gardens, New York Real Estate Trends-December 8 2011 , part of a Queens, New York Real Estate overview, covers Springfield Gardens, New York Real Estate that is available for sale and homes that have closed over the 12 month period ended December 8 2011. The report, prepared by Home Driven Realty Inc includes analysis of Springfield Gardens New York Short Sales, Springfield Gardens New York Foreclosures, Springfield Gardens New York cooperatives and Springfield Gardens New York Condominiums. A free search Springfield Gardens, New York Homes for Sale and Springfield Gardens, New York Real Estate listings option is also available.

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 Homes for Sale

As of December 8 2011 there were 105 Springfield Gardens,  New York Homes for Sale. Of the 105 Springfield Gardens, New York Homes for Sale, there are 0 foreclosures and 38 homes marketed as short sales. The median list price is $319,999.

The Springfield Gardens, New York Homes for Sale by price range analysis indicates that the $350,001-$400,000 bands have the most homes for sale with 24.

Springfield Gardens, New York Homes Sold

There were 88 Springfield Gardens, New York Real Estate homes sold for the year ended December 8 2011. Of this number 12 were Springfield Gardens, New York Real Estate short sales and 19 were Springfield Gardens, New York Real Estate foreclosures.

The three month period September 9 2011 to December 8 2011, acounted for 18 of the 88 Springfield Gardens, New York Real Estate home sales. The median sales price for this three month period was $275,000.

In My Opinion

Although sales volume is down for the first time since 2008, the good news for Springfield Gardens reak estate is the first increase in property value as measured by median sales price sinc 2008.

Unlike many communities in Southeast Queens, the number of homes sold for the period 2008, when sales were 85, to 2010, when sales were 100, increased. The year 2011 has seen a drop in this number to 88. Even with this the percentage of total sales represented by distressed properties (Foreclosures and short sales) has fallen to its lowest level since 2009 with 35.2%

2011 median sales price was another bright spot for the Springfield Gardens Market, showing its first median sales price increase since 2008 of $320,000. As shown on the graph below the 2010 median sales price was $306,000.

There is still a large inventory of distressed properties in this market, but the median price increase is a positive sign. There are some very good opportunities in this market but purchasers should be very selective and work the numbers.