Appreciation for MSAs:.

Before we disect the appreciation within the MSA for this period, lets consider how Springfield, Illinios did compared to the state as a whole.

The Springfield, Illinios MSA property value change was + 3.19% (+ 1.06% yearly).

All of the property in IL averaged + 10.75% change in value (+ 3.58% yearly).

Springfield-IL

YearQuarterPrice IndexQuarter Increase or DecreaseAnnualized
1997 2 105.34 - 0.14% - 0.57%
1997 3 106.29 + 0.90% + 3.61%
1997 4 106.81 + 0.49% + 1.96%
1998 1 107.6 + 0.74% + 2.96%
1998 2 107.77 + 0.16% + 0.63%
1998 3 108.09 + 0.30% + 1.19%
1998 4 108.51 + 0.39% + 1.55%
1999 1 109.13 + 0.57% + 2.29%
1999 2 109.51 + 0.35% + 1.39%
1999 3 108.93 - 0.53% - 2.12%
1999 4 108.85 - 0.07% - 0.29%


There are a lot of ways to use the appreciation data for Springfield, Illinios .

Lets look at Buffalo, Illinios, a city located in Springfield, Illinios MSA.

Appreciation is an important factor in flipping properties. If appreciation rates are good this area may be prime for fixing up and flipping houses. If you need information on Hard Money Rehab Loans in Buffalo, Illinios check out Spec-Loan.com

If you were going to do a Buffalo, Illinios Refinance, or Buffalo, Illinios Reverse Mortgages, you could estimate your home value.

If you knew your Buffalo, Illinios home was worth $96,000.00 in 1997, you could multiply by + 3.19%, add the gain and see the home should be worth $99,057.73 in 1999. Home value is an important part of every mortgage transaction.


Average YEARLY Real Estate Appreciation for Springfield-IL from 1997 to 1999:
+ 1.06%

Appreciation Comparisons

In contrast, the worst 5 MSAs from 1997 to 1999 were Honolulu-HI, Williamsport-PA, Buffalo-Niagara-Falls-NY, Ithaca-NY, and Reading-PA .

  1. Honolulu-HI decreased by - 5.64% between 1997 and 1999
  2. Williamsport-PA decreased by - 0.53% between 1997 and 1999
  3. Buffalo-Niagara-Falls-NY only increased + 0.14% between 1997 and 1999
  4. Ithaca-NY only increased + 0.26% between 1997 and 1999
  5. Reading-PA only increased + 1.79% between 1997 and 1999

The worst perfoming MSAs ever for a 3 year period, were Grand-Junction-CO, Lafayette-LA, Honolulu-HI, Fairbanks-AK, and Lafayette-LA .

  1. Grand-Junction-CO lost - 34.69% from 1983 to 1985
  2. Lafayette-LA lost - 31.84% from 1985 thru 1987
  3. Honolulu-HI lost - 30.81% from 1979 thru 1981
  4. Fairbanks-AK lost - 29.16% from 1987 thru 1989
  5. Lafayette-LA lost - 28.50% from 1986 thru 1988

Zip Code in MSA: 62515 - BUFFALO, IL

MSA Pop: 204468
Zip Pop: 1010
Avg Value: 75900
County: SANGAMON
Elev: 612
Region: Midwest
Lat: 39.850505
Long: -89.40906