$3,859 Closing Credit*
$325,000
1,084 SqFt
2 Beds
•1 Full Bath, 1 Partial
#73307764, Amanda Wright, Listing Office: ROVI Homes
Is Springfield, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
Since last year, Springfield has remained a Seller's Market.
Key Takeaway
Springfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Springfield, MA
How much do homes in Springfield, MA cost?
Median Sold Price
$297,500
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$27,521(+10.2%)
Key Takeaway
Homes in Springfield have sold for 10.2% more than they did a year ago.
Summary: The median home sold price in Springfield was $297,500 in September 2024, up 10.2% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $137.5K | $172K | +25.1% |
| 2 Bedrooms | $221.5K | $247.7K | +11.8% |
| 3 Bedrooms | $265K | $287.4K | +8.5% |
| 4 Bedrooms | $285K | $305K | +7.0% |
| 5+ Bedrooms | $310K | $350K | +12.9% |
Summary: Springfield housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.1%, 2 bedroom homes increased by 11.8%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 7%, and 5+ bedroom homes increased by 12.9%.
Median Sold Price Compared To Nearby Cities
| Wilbraham | $400K | $445K | +11.3% |
| Springfield | $269.9K | $297.5K | +10.2% |
| Ludlow | $304K | $330K | +8.6% |
| Chicopee | $275K | $290K | +5.5% |
| East Longmeadow | $377K | $370K | -1.9% |
Housing Supply in Springfield, MA
How many homes are available in Springfield, MA?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 408 | 415 | +1.7% |
Summary: The Springfield real estate market had 415 homes for sale in September 2024, a 1.7% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 3 | -25.0% |
| 2 Bedrooms | 55 | 53 | -3.6% |
| 3 Bedrooms | 142 | 156 | +9.9% |
| 4 Bedrooms | 73 | 82 | +12.3% |
| 5+ Bedrooms | 134 | 121 | -9.7% |
Summary: The Springfield housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes decreased by 3.6%, 3 bedroom homes increased by 9.9%, 4 bedroom homes increased by 12.3%, and 5+ bedroom homes decreased by 9.7%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 124 | 93 | -25.0% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
61 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Springfield, you could pay more than the asking price. 65.6% of homes here sold above asking price last month.
Summary: A total of 93 homes were sold or pending in Springfield in September 2024, down by 25.0% month-over-month. Of the 93 sold homes, 25% were sold under asking, 10% were sold at asking, and 66% were sold over asking.
Days on Market for Springfield, MA
How long does it take to sell a home in Springfield, MA?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 25 Days | 36 Days | +41.1% |
Summary: Homes in Springfield had an average of 36 days on market in Sep 2024, up by 41.1% compared to last year.
Breakdown of Home Sale Times
64 Homes Were Sold
Under 30 Days
26 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Springfield are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 93 homes were sold in Springfield; 69% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
