$4,986 Closing Credit*
$419,900
1,270 SqFt
3 Beds
•2 Full Baths
Kanwal R Chaudry, Listing Office: RE/MAX Galaxy
Is West Springfield, VA 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, West Springfield has remained a Seller's Market.
Key Takeaway
West Springfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in West Springfield, VA
How much do homes in West Springfield, VA cost?
Median Sold Price
$640,000
$334/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$12,500(-1.9%)
Key Takeaway
Homes in West Springfield have sold for 1.9% less than they did a year ago.
Summary: The median home sold price in West Springfield was $640,000 in October 2024, down 1.9% from last year, and the median price per square foot was $334.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $245K | $259K | +5.7% |
| 2 Bedrooms | $346K | $365K | +5.5% |
| 3 Bedrooms | $615K | $590K | -4.1% |
| 4 Bedrooms | $728.3K | $777.5K | +6.7% |
| 5+ Bedrooms | $915.5K | $941K | +2.8% |
Summary: West Springfield housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.7%, 2 bedroom homes increased by 5.5%, 3 bedroom homes decreased by 4.1%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 2.8%.
Housing Supply in West Springfield, VA
How many homes are available in West Springfield, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 47 | 58 | +23.4% |
Summary: The West Springfield real estate market had 58 homes for sale in October 2024, a 23.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 8 | 12 | +50.0% |
| 3 Bedrooms | 16 | 18 | +12.5% |
| 4 Bedrooms | 12 | 14 | +16.7% |
| 5+ Bedrooms | 9 | 10 | +11.1% |
Summary: The West Springfield housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 16 | 0.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Springfield, you may be able to get a good deal. 56.3% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in West Springfield in October 2024, the same as the previous month. Of the 16 sold homes, 56% were sold under asking, 6% were sold at asking, and 38% were sold over asking.
Days on Market for West Springfield, VA
How long does it take to sell a home in West Springfield, VA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 10 Days | 20 Days | +96.1% |
Summary: Homes in West Springfield had an average of 20 days on market in Oct 2024, up by 96.1% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in West Springfield are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 16 homes were sold in West Springfield; 69% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
