Is Springfield, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Springfield has remained a Seller's Market.
Housing Prices in Springfield, PA
How much do homes in Springfield, PA cost?
Median Sold Price
$459,666
$245/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Springfield was $459,666 in April 2024, up 8.2% from last year, and the median price per square foot was $245.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $262.5K | $400K | +52.4% |
3 Bedrooms | $399.5K | $450K | +12.6% |
4 Bedrooms | $530K | $522.5K | -1.4% |
5+ Bedrooms | $630K | $565K | -10.3% |
Summary: Springfield housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 52.4%, 3 bedroom homes increased by 12.6%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes decreased by 10.3%.
Median Sold Price Compared To Nearby Cities
Drexel Hill | $260K | $299K | +15.0% |
Morton | $336K | $373K | +11.0% |
Springfield Township | $414K | $450.3K | +8.8% |
Springfield | $425K | $459.6K | +8.2% |
Swarthmore | $510K | $385K | -24.5% |
Housing Supply in Springfield, PA
How many homes are available in Springfield, PA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
39 | 53 | +35.9% |
Summary: The Springfield real estate market had 53 homes for sale in April 2024, a 35.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 3 | 0.0% |
3 Bedrooms | 24 | 35 | +45.8% |
4 Bedrooms | 12 | 14 | +16.7% |
5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Springfield housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 45.8%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
14 | 11 | -21.4% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Springfield in April 2024, down by 21.4% month-over-month. Of the 11 sold homes, 0% were sold under asking, 27% were sold at asking, and 73% were sold over asking.
Days on Market for Springfield, PA
How long does it take to sell a home in Springfield, PA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
17 Days | 16 Days | -5.3% |
Summary: Homes in Springfield had an average of 16 days on market in Apr 2024, down by 5.3% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 11 homes were sold in Springfield; 91% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.