Is Springfield, MO a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Springfield has remained a Seller's Market.
Housing Prices in Springfield, MO
How much do homes in Springfield, MO cost?
Median Sold Price
$234,257
$154/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Springfield was $234,257 in May 2024, up 6.6% from last year, and the median price per square foot was $154.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $72K | $79.5K | +10.5% |
2 Bedrooms | $125K | $131.5K | +5.2% |
3 Bedrooms | $210K | $225.2K | +7.3% |
4 Bedrooms | $331.9K | $343K | +3.3% |
5+ Bedrooms | $426.9K | $488.7K | +14.5% |
Summary: Springfield housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.5%, 2 bedroom homes increased by 5.2%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 14.5%.
Median Sold Price Compared To Nearby Cities
Campbell No. 2 Township | $235K | $276K | +17.4% |
Wilson A Township | $215K | $230.7K | +7.3% |
Springfield | $219.7K | $234.2K | +6.6% |
Springfield Township | $219.7K | $234.2K | +6.6% |
Campbell No. 2C Township | $279.9K | $291K | +4.0% |
Housing Supply in Springfield, MO
How many homes are available in Springfield, MO?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
992 | 1,044 | +5.2% |
Summary: The Springfield real estate market had 1,044 homes for sale in May 2024, a 5.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 11 | 13 | +18.2% |
2 Bedrooms | 175 | 162 | -7.4% |
3 Bedrooms | 488 | 520 | +6.6% |
4 Bedrooms | 201 | 230 | +14.4% |
5+ Bedrooms | 117 | 119 | +1.7% |
Summary: The Springfield housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 18.2%, 2 bedroom homes decreased by 7.4%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 14.4%, and 5+ bedroom homes increased by 1.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
278 | 313 | +12.6% |
Asking Price vs. Sold Price
139 Homes Were Sold
Under Asking
92 Homes Were Sold
At Asking
73 Homes Were Sold
Over Asking
Summary: A total of 313 homes were sold or pending in Springfield in May 2024, up by 12.6% month-over-month. Of the 304 sold homes, 46% were sold under asking, 30% were sold at asking, and 24% were sold over asking.
Days on Market for Springfield, MO
How long does it take to sell a home in Springfield, MO?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
21 Days | 23 Days | +9.9% |
Summary: Homes in Springfield had an average of 23 days on market in May 2024, up by 9.9% compared to last year.
Breakdown of Home Sale Times
244 Homes Were Sold
Under 30 Days
45 Homes Were Sold
In 30 - 90 Days
23 Homes Were Sold
Over 90 Days
Summary: During May 2024, 313 homes were sold in Springfield; 78% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.