$5,914 Closing Credit*
$498,000
3 Beds
•1 Full Bath, 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 October 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
$660,000
$360/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$110,000(+20.0%)
Key Takeaway
Homes in Springfield have sold for 20% more than they did a year ago.
Summary: The median home sold price in Springfield was $660,000 in October 2024, up 20% from last year, and the median price per square foot was $360.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $255K | $280K | +9.8% |
| 2 Bedrooms | $435K | $408K | -6.2% |
| 3 Bedrooms | $525K | $640K | +21.9% |
| 4 Bedrooms | $677K | $770K | +13.7% |
| 5+ Bedrooms | $885K | $972K | +9.8% |
Summary: Springfield housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.8%, 2 bedroom homes decreased by 6.2%, 3 bedroom homes increased by 21.9%, 4 bedroom homes increased by 13.7%, and 5+ bedroom homes increased by 9.8%.
Median Sold Price Compared To Nearby Cities
| Springfield | $550K | $660K | +20.0% |
| Springfield Township | $550K | $656.2K | +19.3% |
| Millburn | $1.1M | $1.2M | +15.3% |
| Mountainside | $850K | $894K | +5.2% |
Housing Supply in Springfield, NJ
How many homes are available in Springfield, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 42 | 45 | +7.1% |
Summary: The Springfield real estate market had 45 homes for sale in October 2024, a 7.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 13 | 16 | +23.1% |
| 4 Bedrooms | 18 | 19 | +5.6% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Springfield housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 23.1%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 17 | 8 | -52.9% |
Asking Price vs. Sold Price
2 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. 75% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in Springfield in October 2024, down by 52.9% month-over-month. Of the 8 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for Springfield, NJ
We’re sorry, we don't have information for this market at the moment
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.