$6,888 Closing Credit*
$580,000
3 Beds
•3 Full Baths, 1 Partial
Listing Office: COLDWELL BANKER REALTY
Is Springfield, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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, NJ
How much do homes in Springfield, NJ cost?
Median Sold Price
$675,000
$360/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$115,000(+20.5%)
Key Takeaway
Homes in Springfield have sold for 20.5% more than they did a year ago.
Summary: The median home sold price in Springfield was $675,000 in November 2024, up 20.5% from last year, and the median price per square foot was $360.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $277.5K | $280K | +0.9% |
| 2 Bedrooms | $436K | $408K | -6.4% |
| 3 Bedrooms | $535K | $640K | +19.6% |
| 4 Bedrooms | $670K | $775K | +15.7% |
| 5+ Bedrooms | $899K | $942.5K | +4.8% |
Summary: Springfield housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.9%, 2 bedroom homes decreased by 6.4%, 3 bedroom homes increased by 19.6%, 4 bedroom homes increased by 15.7%, and 5+ bedroom homes increased by 4.8%.
Median Sold Price Compared To Nearby Cities
| Springfield | $560K | $675K | +20.5% |
| Springfield Township | $562.5K | $672.5K | +19.6% |
| Millburn | $1.1M | $1.1M | +5.9% |
| Mountainside | $854K | $884.5K | +3.6% |
Housing Supply in Springfield, NJ
How many homes are available in Springfield, NJ?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 44 | 47 | +6.8% |
Summary: The Springfield real estate market had 47 homes for sale in November 2024, a 6.8% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 2 | +100.0% |
| 2 Bedrooms | 7 | 7 | 0.0% |
| 3 Bedrooms | 14 | 16 | +14.3% |
| 4 Bedrooms | 19 | 19 | 0.0% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Springfield housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 14.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 8 | 10 | +25.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Springfield, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in Springfield in November 2024, up by 25.0% month-over-month. Of the 10 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% were sold over asking.
Days on Market for Springfield, NJ
How long does it take to sell a home in Springfield, NJ?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 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 November 2024, 10 homes were sold in Springfield; 10% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.
The data relating to real estate for sale or rent on this web site comes in part from the IDX program of the HCMLS. Real estate listings held by brokerage firms other than this broker are marked with the HCIDX mark and the information about them includes the name of the listing broker. Information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Listing(s) information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright © 2024 Realty Multiple Listing System, Inc. Incorporated in 1952 (aka RMLS, Hudson County MLS). All rights reserved.