$3,432 Closing Credit*
$289,000
1 Bed
•1 Full Bath
Listing Office: RE/MAX FIRST REALTY
Is Springfield Township, 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 Township has remained a Seller's Market.
Key Takeaway
Springfield Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Springfield Township, NJ
How much do homes in Springfield Township, NJ cost?
Median Sold Price
$656,250
$360/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$106,250(+19.3%)
Key Takeaway
Homes in Springfield Township have sold for 19.3% more than they did a year ago.
Summary: The median home sold price in Springfield Township was $656,250 in October 2024, up 19.3% 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 | $426K | -2.1% |
| 3 Bedrooms | $530K | $640K | +20.8% |
| 4 Bedrooms | $677K | $770K | +13.7% |
| 5+ Bedrooms | $885K | $972K | +9.8% |
Summary: Springfield Township 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 2.1%, 3 bedroom homes increased by 20.8%, 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% |
| Summit | $1.1M | $1.2M | +12.2% |
| Millburn Township | $1.6M | $1.7M | +5.6% |
Housing Supply in Springfield Township, NJ
How many homes are available in Springfield Township, NJ?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 42 | 45 | +7.1% |
Summary: The Springfield Township 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 Township 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 Township, 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 Township 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 Township, NJ
We’re sorry, we don't have information for this market at the moment
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