Is East 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, East Springfield has remained a Seller's Market.
Key Takeaway
East Springfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in East Springfield, MA
How much do homes in East Springfield, MA cost?
Median Sold Price
$265,000
$199/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in East Springfield have sold for 3.9% more than they did a year ago.
Summary: The median home sold price in East Springfield was $265,000 in April 2024, up 3.9% from last year, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $170.1K | N/A |
| 2 Bedrooms | $215K | $240K | +11.6% |
| 3 Bedrooms | $259K | $252.5K | -2.5% |
| 4 Bedrooms | $255K | $300K | +17.6% |
| 5+ Bedrooms | $350K | $350K | 0.0% |
Summary: East Springfield housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 11.6%, 3 bedroom homes decreased by 2.5%, 4 bedroom homes increased by 17.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Indian Orchard | $260K | $290K | +11.5% |
| Liberty Heights | $257K | $286K | +11.3% |
| Pine Point | $240K | $261K | +8.8% |
| Bay | $254.7K | $265K | +4.0% |
| East Springfield | $255K | $265K | +3.9% |
Housing Supply in East Springfield, MA
How many homes are available in East Springfield, MA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 18 | 17 | -5.6% |
Summary: The East Springfield real estate market had 17 homes for sale in April 2024, a 5.6% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 6 | 6 | 0.0% |
| 4 Bedrooms | 6 | 3 | -50.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The East Springfield housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 50%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 7 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in East Springfield, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in East Springfield in April 2024, the same as the previous month. Of the 7 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for East Springfield, MA
How long does it take to sell a home in East Springfield, MA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 36 Days | 25 Days | -30.0% |
Summary: Homes in East Springfield had an average of 25 days on market in Apr 2024, down by 30% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in East Springfield are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 7 homes were sold in East Springfield; 86% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
