Prairie Fields, in Savoy IL, has proved to be a great neighborhood for new construction home buyers. Lower real estate taxes than Champaign and Urbana, attractive neighborhoods and the enticement of a new Unit 4 School have all increased demand for the area.
The Champaign News Gazette recently reviewed the housing starts in Savoy reporting 74 single family housing starts though mid November, a 61% increase from the 46 starts in 2008 . Compare this to 70 new homes in Champaign and 46 in Urbana (both are much larger communities) and Savoy really stands out.
As of 11/30, the CCAR MLS statistics show 36 closed sales of new construction homes in Savoy for 2009, up almost 40% from the prior year. A large portion of these new homes are in Prairie Fields XII, a new phase developed with slightly smaller lot sizes and prices. Prairie Fields XII lots are sized at a minimum of 55′ x 120′ and priced from $37,000. These homes were built mainly by home builders Signature Homes and Ironwood Homes. Out of 46 lots in the subdivision only 9 are currently available. As sales continue, the plan is to start another phase with an almost identical layout just to the North of this area in the Spring of 2010.
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Average Sale Prices for new construction homes in Savoy, IL ranged from $189,900 to $449,000 in 2009 with an average of $273,717. Prices of new construction in Prairie Fields XII ranged from $189,900 to $234,025 with an average just over $205k. These homes are a mix of 2 Story and Ranch styles. The majority are on built on basements and feature 3 bedroom floor plans with most if not all of the amenities that new home buyers are currently looking for.
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