Is Springhill, LA 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, Springhill has remained a Seller's Market.
Key Takeaway
Springhill is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Springhill, LA
How much do homes in Springhill, LA cost?
Median Sold Price
$108,000
$70/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Springhill have sold for 8.6% less than they did a year ago.
Summary: The median home sold price in Springhill was $108,000 in March 2024, down 8.6% from last year, and the median price per square foot was $70.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $20K | - | N/A |
| 2 Bedrooms | $90K | $42.4K | -52.8% |
| 3 Bedrooms | $124.5K | $110K | -11.6% |
| 4 Bedrooms | $197.2K | $173.7K | -11.9% |
| 5+ Bedrooms | $265K | - | N/A |
Summary: Springhill housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 52.8%, 3 bedroom homes decreased by 11.6%, 4 bedroom homes decreased by 11.9%, and 5+ bedroom homes did not change.
Housing Supply in Springhill, LA
How many homes are available in Springhill, LA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 18 | 18 | 0.0% |
Summary: The Springhill real estate market had 18 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 12 | 11 | -8.3% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Springhill housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 8.3%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 5 | +400.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Springhill, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Springhill in March 2024, up by 400.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 40% were sold at asking, and 0% were sold over asking.
Days on Market for Springhill, LA
How long does it take to sell a home in Springhill, LA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 97 Days | 64 Days | -33.3% |
Summary: Homes in Springhill had an average of 64 days on market in Mar 2024, down by 33.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Springhill are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 5 homes were sold in Springhill; 60% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
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