Springwood Estates Neighborhood Real Estate Report
While we’ve been seeing an increase in construction activity in Springwood Estates real estate, resale home prices have not been on the rise. After hitting an average sale price of $471,750 in October of 2013, that number dropped to $427,500 in October of 2014 (a 9% decrease).
Not only have prices on existing homes dropped in the last year, but it’s taking longer to sell. The 2013 average days on market was 140, while the 2014 average currently stands at 181.
Number of homes sold in Springwood
Not only have prices come down from last year, but interest in existing homes has dropped dramatically. Competition from the Parks of Plaquemines and Chapel Hill is definitely having an impact on sales in Springwood.