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
$450,000
$249/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 $450,000 in May 2024, up 5.5% from last year, and the median price per square foot was $249.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $97.5K | - | N/A |
2 Bedrooms | $280K | $380K | +35.7% |
3 Bedrooms | $414K | $440K | +6.3% |
4 Bedrooms | $520K | $525K | +1.0% |
5+ Bedrooms | $697.5K | $565K | -19.0% |
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 35.7%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 1%, and 5+ bedroom homes decreased by 19%.
Median Sold Price Compared To Nearby Cities
Nether Providence Township | $382.5K | $450K | +17.6% |
Morton | $321.5K | $376K | +17.0% |
Springfield Township | $426.5K | $450K | +5.5% |
Springfield | $435K | $455K | +4.6% |
Swarthmore | $497.5K | $382.5K | -23.1% |
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 |
---|---|---|
51 | 71 | +39.2% |
Summary: The Springfield Township real estate market had 71 homes for sale in May 2024, a 39.2% 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 | 33 | 44 | +33.3% |
4 Bedrooms | 15 | 22 | +46.7% |
5+ Bedrooms | 0 | 0 | 0.0% |
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 33.3%, 4 bedroom homes increased by 46.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
11 | 12 | +9.1% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Springfield Township in May 2024, up by 9.1% month-over-month. Of the 12 sold homes, 42% were sold under asking, 17% were sold at asking, and 42% 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 | 10 Days | -45.4% |
Summary: Homes in Springfield Township had an average of 10 days on market in May 2024, down by 45.4% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 12 homes were sold in Springfield Township; 92% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.