Is Springfield Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Springfield Township has remained a Seller's Market.
Housing Prices in Springfield Township, IL
How much do homes in Springfield Township, IL cost?
Median Sold Price
$155,509
$100/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Springfield Township was $155,509 in March 2024, up 29.6% from last year, and the median price per square foot was $100.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $34K | $41.5K | +22.1% |
2 Bedrooms | $78.5K | $95.8K | +22.1% |
3 Bedrooms | $144K | $160K | +11.1% |
4 Bedrooms | $244.2K | $250.6K | +2.6% |
5+ Bedrooms | $377.5K | $455K | +20.5% |
Summary: Springfield Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22.1%, 2 bedroom homes increased by 22.1%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 20.5%.
Median Sold Price Compared To Nearby Cities
Springfield Township | $120K | $155.5K | +29.6% |
Capital Township | $145.3K | $159.7K | +9.9% |
Clear Lake Township | $172K | $184.9K | +7.5% |
Springfield | $144.9K | $155.7K | +7.4% |
Housing Supply in Springfield Township, IL
How many homes are available in Springfield Township, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
349 | 416 | +19.2% |
Summary: The Springfield Township real estate market had 416 homes for sale in March 2024, a 19.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 9 | 8 | -11.1% |
2 Bedrooms | 97 | 121 | +24.7% |
3 Bedrooms | 158 | 189 | +19.6% |
4 Bedrooms | 60 | 67 | +11.7% |
5+ Bedrooms | 25 | 31 | +24.0% |
Summary: The Springfield Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 11.1%, 2 bedroom homes increased by 24.7%, 3 bedroom homes increased by 19.6%, 4 bedroom homes increased by 11.7%, and 5+ bedroom homes increased by 24%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
90 | 143 | +58.9% |
Asking Price vs. Sold Price
71 Homes Were Sold
Under Asking
27 Homes Were Sold
At Asking
45 Homes Were Sold
Over Asking
Summary: A total of 143 homes were sold or pending in Springfield Township in March 2024, up by 58.9% month-over-month. Of the 143 sold homes, 50% were sold under asking, 19% were sold at asking, and 31% were sold over asking.
Days on Market for Springfield Township, IL
How long does it take to sell a home in Springfield Township, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
20 Days | 22 Days | +6.9% |
Summary: Homes in Springfield Township had an average of 22 days on market in Mar 2024, up by 6.9% compared to last year.
Breakdown of Home Sale Times
110 Homes Were Sold
Under 30 Days
24 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During March 2024, 143 homes were sold in Springfield Township; 77% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.