From January through December of 2017, there were 10 homes sold, with a median sale price of $86,500 - a 27.2% increase over the $68,000 median sale price for the previous year. There were 10 homes sold in Spring Bay in 2016, as well.
The median sales tax in Spring Bay for 2017 was $1,566. In 2016, the median sales tax was $1,695. This marks an decrease of 7.6%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1.8%.
The following table compares Spring Bay to other Woodford County cities with similar median sales prices in 2017:
| City | Jan. - Dec. 2017 Home Sales | Jan. - Dec. 2016 Home Sales | % change (Total Home Sales) | Jan. - Dec. 2017 Median Sales Price | Jan. - Dec. 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Goodfield | 11 | 8 | 37.5% | $181,000 | $126,000 | 43.7% |
| Metamora | 63 | 69 | -8.7% | $142,000 | $145,000 | -2.1% |
| Eureka | 67 | 63 | 6.3% | $121,000 | $136,000 | -11% |
| El Paso | 52 | 61 | -14.8% | $112,500 | $95,250 | 18.1% |
| Bay View Gardens | 1 | 7 | -85.7% | $98,900 | $77,500 | 27.6% |
| Roanoke | 38 | 43 | -11.6% | $90,000 | $100,000 | -10% |
| Spring Bay | 10 | 10 | 0% | $86,500 | $68,000 | 27.2% |
| Washburn | 14 | 33 | -57.6% | $78,450 | $37,500 | 109.2% |
| Minonk | 37 | 30 | 23.3% | $67,500 | $69,450 | -2.8% |
| Benson | 5 | 11 | -54.5% | $54,000 | $76,220 | -29.2% |
| Secor | 9 | 9 | 0% | $40,000 | $48,000 | -16.7% |
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