$6,886 Closing Credit*
$579,900
2,220 SqFt
3 Beds
•2 Full Baths, 1 Partial
Timothy Dalton, Listing Office: Cope Associates Realty & Auction, LLC
Is Springfield, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Springfield was a Seller's Market.
Key Takeaway
Springfield is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Springfield, TN
How much do homes in Springfield, TN cost?
Median Sold Price
$349,900
$226/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$15,450(+4.6%)
Key Takeaway
Homes in Springfield have sold for 4.6% more than they did a year ago.
Summary: The median home sold price in Springfield was $349,900 in November 2024, up 4.6% from last year, and the median price per square foot was $226.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $288K | $142.5K | -50.5% |
| 2 Bedrooms | $292.6K | $257K | -12.2% |
| 3 Bedrooms | $334.7K | $340K | +1.6% |
| 4 Bedrooms | $405K | $587.6K | +45.1% |
| 5+ Bedrooms | $430K | $733.3K | +70.5% |
Summary: Springfield housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 50.5%, 2 bedroom homes decreased by 12.2%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 45.1%, and 5+ bedroom homes increased by 70.5%.
Median Sold Price Compared To Nearby Cities
| Springfield | $334.4K | $349.9K | +4.6% |
| Greenbrier | $415K | $399.9K | -3.6% |
Housing Supply in Springfield, TN
How many homes are available in Springfield, TN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 163 | 149 | -8.6% |
Summary: The Springfield real estate market had 149 homes for sale in November 2024, a 8.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 22 | 27 | +22.7% |
| 3 Bedrooms | 90 | 91 | +1.1% |
| 4 Bedrooms | 40 | 23 | -42.5% |
| 5+ Bedrooms | 10 | 6 | -40.0% |
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 increased by 22.7%, 3 bedroom homes increased by 1.1%, 4 bedroom homes decreased by 42.5%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 37 | 21 | -43.2% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Springfield, you may be able to get a good deal. 47.4% of homes here sold below asking price last month.
Summary: A total of 21 homes were sold or pending in Springfield in November 2024, down by 43.2% month-over-month. Of the 19 sold homes, 47% were sold under asking, 42% were sold at asking, and 11% were sold over asking.
Days on Market for Springfield, TN
How long does it take to sell a home in Springfield, TN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 33 Days | 39 Days | +15.6% |
Summary: Homes in Springfield had an average of 39 days on market in Nov 2024, up by 15.6% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was 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, 21 homes were sold in Springfield; 67% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.