Is Springfield Township, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Springfield Township has remained a Seller's Market.
Housing Prices in Springfield Township, PA
How much do homes in Springfield Township, PA cost?
Median Sold Price
$475,000
$253/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Springfield Township was $475,000 in May 2024, up 5.6% from last year, and the median price per square foot was $253.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $290K | $383K | +32.1% |
3 Bedrooms | $425K | $440K | +3.5% |
4 Bedrooms | $520K | $535K | +2.9% |
5+ Bedrooms | $727.5K | $735K | +1.0% |
Summary: Springfield Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 32.1%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 1%.
Median Sold Price Compared To Nearby Cities
Whitemarsh Township | $525K | $590K | +12.4% |
Lafayette Hill | $535K | $600K | +12.2% |
Fort Washington | $600K | $650K | +8.3% |
Springfield Township | $450K | $475K | +5.6% |
Upper Dublin Township | $550K | $570K | +3.6% |
Housing Supply in Springfield Township, PA
How many homes are available in Springfield Township, PA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
90 | 135 | +50.0% |
Summary: The Springfield Township real estate market had 135 homes for sale in May 2024, a 50.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 5 | +66.7% |
3 Bedrooms | 48 | 73 | +52.1% |
4 Bedrooms | 29 | 43 | +48.3% |
5+ Bedrooms | 10 | 14 | +40.0% |
Summary: The Springfield Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 52.1%, 4 bedroom homes increased by 48.3%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
20 | 23 | +15.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in Springfield Township in May 2024, up by 15.0% month-over-month. Of the 23 sold homes, 39% were sold under asking, 17% were sold at asking, and 43% were sold over asking.
Days on Market for Springfield Township, PA
How long does it take to sell a home in Springfield Township, PA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
18 Days | 17 Days | -3.9% |
Summary: Homes in Springfield Township had an average of 17 days on market in May 2024, down by 3.9% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 23 homes were sold in Springfield Township; 87% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.