$4,275 Closing Credit*
$360,000
1,499 SqFt
4 Beds
•2 Full Baths, 1 Partial
Gregory Blackall, Listing Office: OPENDOOR BROKERAGE, LLC
Is Springfield, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 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, TN
How much do homes in Springfield, TN cost?
Median Sold Price
$353,266
$229/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$18,366(+5.5%)
Key Takeaway
Homes in Springfield have sold for 5.5% more than they did a year ago.
Summary: The median home sold price in Springfield was $353,266 in December 2024, up 5.5% from last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $500K | $142.5K | -71.5% |
| 2 Bedrooms | $289.7K | $265K | -8.5% |
| 3 Bedrooms | $334.9K | $344.9K | +3.0% |
| 4 Bedrooms | $436.2K | $626.4K | +43.6% |
| 5+ Bedrooms | $615K | $735.1K | +19.5% |
Summary: Springfield housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 71.5%, 2 bedroom homes decreased by 8.5%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 43.6%, and 5+ bedroom homes increased by 19.5%.
Median Sold Price Compared To Nearby Cities
| Springfield | $334.9K | $353.2K | +5.5% |
| Greenbrier | $425K | $399.9K | -5.9% |
Housing Supply in Springfield, TN
How many homes are available in Springfield, TN?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 154 | 153 | -0.6% |
Summary: The Springfield real estate market had 153 homes for sale in December 2024, a 0.6% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 27 | 22 | -18.5% |
| 3 Bedrooms | 93 | 99 | +6.5% |
| 4 Bedrooms | 26 | 25 | -3.8% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Springfield housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 18.5%, 3 bedroom homes increased by 6.5%, 4 bedroom homes decreased by 3.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 23 | 36 | +56.5% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Springfield, you may be able to get a good deal. 51.4% of homes here sold below asking price last month.
Summary: A total of 36 homes were sold or pending in Springfield in December 2024, up by 56.5% month-over-month. Of the 35 sold homes, 51% were sold under asking, 26% were sold at asking, and 23% 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
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 34 Days | 42 Days | +24.7% |
Summary: Homes in Springfield had an average of 42 days on market in Dec 2024, up by 24.7% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
7 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 December 2024, 36 homes were sold in Springfield; 50% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
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