Is Springfield, FL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Springfield is a neutral's market

Buyer's
Market

Difference Since January 2023

At the same time last year, Springfield was a Seller's Market.

Key Takeaway

Springfield is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Springfield, FL

How much do homes in Springfield, FL cost?

Median Sold Price

$249,008

$178/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

+$29,558(+13.5%)

Key Takeaway

Homes in Springfield have sold for 13.5% more than they did a year ago.

Summary: The median home sold price in Springfield was $249,008 in January 2024, up 13.5% from last year, and the median price per square foot was $178.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 --
N/A
2 $139.5K$107K
-23.3%
3 $215K$241K
+12.1%
4 $295K$285K
-3.4%
5+ $374.9K$399.9K
+6.7%

Summary: Springfield housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 23.3%, 3 bedroom homes increased by 12.1%, 4 bedroom homes decreased by 3.4%, and 5+ bedroom homes increased by 6.7%.

Median Sold Price Compared To Nearby Cities

Springfield
+13.5%
Panama City
+12.8%
Callaway
+9.3%

Housing Supply in Springfield, FL

How many homes are available in Springfield, FL?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
3739+5.4%

Summary: The Springfield real estate market had 39 homes for sale in January 2024, a 5.4% increase compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 00
0.0%
2 02
+100.0%
3 2420
-16.7%
4 1114
+27.3%
5+ 23
+50.0%

Summary: The Springfield housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
116-45.5%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Springfield, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 6 homes were sold or pending in Springfield in January 2024, down by 45.5% month-over-month. Of the 6 sold homes, 33% were sold under asking, 50% were sold at asking, and 17% were sold over asking.

Days on Market for Springfield, FL

How long does it take to sell a home in Springfield, FL?

Average Sale Time

Jan 2023Jan 2024CHANGE
43 Days77 Days+76.0%

Summary: Homes in Springfield had an average of 77 days on market in Jan 2024, up by 76% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Springfield are selling fast, if you're buying plan to act quickly.

Summary: During January 2024, 6 homes were sold in Springfield; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 23 Days Ago

Newest Listings in Springfield, FL

Nearby Markets to Springfield, FL

What housing markets are near Springfield, FL?