Is West Springfield, MA 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, West Springfield has remained a Seller's Market.
Housing Prices in West Springfield, MA
How much do homes in West Springfield, MA cost?
Median Sold Price
$310,000
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in West Springfield was $310,000 in April 2024, up 3.3% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $120K | $135.1K | +12.6% |
2 Bedrooms | $230K | $224.5K | -2.4% |
3 Bedrooms | $293K | $309.4K | +5.6% |
4 Bedrooms | $325K | $340K | +4.6% |
5+ Bedrooms | $330K | $347K | +5.2% |
Summary: West Springfield housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.6%, 2 bedroom homes decreased by 2.4%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 4.6%, and 5+ bedroom homes increased by 5.2%.
Median Sold Price Compared To Nearby Cities
Agawam | $270K | $301K | +11.5% |
Agawam Town | $297K | $323.3K | +8.9% |
West Springfield | $300K | $310K | +3.3% |
West Springfield Town | $300K | $310K | +3.3% |
Feeding Hills | $345K | $350K | +1.4% |
Housing Supply in West Springfield, MA
How many homes are available in West Springfield, MA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
65 | 51 | -21.5% |
Summary: The West Springfield real estate market had 51 homes for sale in April 2024, a 21.5% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 0 | -100.0% |
2 Bedrooms | 15 | 13 | -13.3% |
3 Bedrooms | 22 | 22 | 0.0% |
4 Bedrooms | 17 | 9 | -47.1% |
5+ Bedrooms | 9 | 7 | -22.2% |
Summary: The West Springfield housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 13.3%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 47.1%, and 5+ bedroom homes decreased by 22.2%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
24 | 12 | -50.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in West Springfield in April 2024, down by 50.0% month-over-month. Of the 12 sold homes, 25% were sold under asking, 17% were sold at asking, and 58% were sold over asking.
Days on Market for West Springfield, MA
How long does it take to sell a home in West Springfield, MA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
41 Days | 35 Days | -15.0% |
Summary: Homes in West Springfield had an average of 35 days on market in Apr 2024, down by 15% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 12 homes were sold in West Springfield; 67% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.