Is Springfield Gardens, NY a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Springfield Gardens is a buyer's market

Buyer's
Market

Difference Since November 2023

Since last year, Springfield Gardens has remained a Buyer's Market.

Key Takeaway

Springfield Gardens is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Springfield Gardens, NY

How much do homes in Springfield Gardens, NY cost?

Median Sold Price

$700,000

$465/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$67,500(-8.8%)

Key Takeaway

Homes in Springfield Gardens have sold for 8.8% less than they did a year ago.

Summary: The median home sold price in Springfield Gardens was $700,000 in November 2024, down 8.8% from last year, and the median price per square foot was $465.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 -$187K
N/A
2 $482K$550K
+14.1%
3 $685K$641.2K
-6.4%
4 $715K$735K
+2.8%
5+ $900K$980K
+8.9%

Summary: Springfield Gardens housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 14.1%, 3 bedroom homes decreased by 6.4%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes increased by 8.9%.

Median Sold Price Compared To Nearby Neighborhoods

Southeastern Queens
+4.8%
Rochdale
+3.7%
Locust Manor
+1.5%
Brookville
-0.7%
Springfield Gardens
-8.8%

Housing Supply in Springfield Gardens, NY

How many homes are available in Springfield Gardens, NY?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
7273+1.4%

Summary: The Springfield Gardens real estate market had 73 homes for sale in November 2024, a 1.4% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 21
-50.0%
2 910
+11.1%
3 1417
+21.4%
4 1415
+7.1%
5+ 3330
-9.1%

Summary: The Springfield Gardens housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 21.4%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes decreased by 9.1%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
440.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Springfield Gardens, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in Springfield Gardens in November 2024, the same as the previous month. Of the 4 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Springfield Gardens, NY

How long does it take to sell a home in Springfield Gardens, NY?

Average Sale Time

Nov 2023Nov 2024CHANGE
48 Days34 Days-27.6%

Summary: Homes in Springfield Gardens had an average of 34 days on market in Nov 2024, down by 27.6% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Springfield Gardens has remained consistent over time.

Summary: During November 2024, 4 homes were sold in Springfield Gardens; 25% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 22 Days Ago

Newest Listings in Springfield Gardens, NY

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