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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Springfield is a seller's market

Buyer's
Market

Difference Since December 2020

Since last year, Springfield has remained a Seller's Market.

Key Takeaway

Springfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Springfield, MA cost?

Median Sold Price

$235,167

$155/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2020

+$36,233(+18.2%)

Key Takeaway

Homes in Springfield have sold for 18.2% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2020Dec 2021%
1 $120K$130.5K
+8.8%
2 $165.9K$191.5K
+15.4%
3 $198.7K$235K
+18.3%
4 $214K$249.9K
+16.8%
5+ $230K$255.5K
+11.1%

Median Sold Price Compared To Nearby Cities

Springfield
+18.2%
Wilbraham
+17.2%
Ludlow
+14.5%
Chicopee
+14.1%
East Longmeadow
+3.3%

How many homes are available in Springfield, MA?

Number of Homes For Sale

Nov 2021Dec 2021%
644604-6.2%

Homes For Sale By Bedroom Count

# BEDSNov 2021Dec 2021%
1 108
-20.0%
2 6368
+7.9%
3 223197
-11.7%
4 160144
-10.0%
5+ 188187
-0.5%

Number of Homes Sold

Nov 2021Dec 2021%
156178+14.1%

Asking Price vs. Sold Price

49 Homes Were Sold
Under Asking

16 Homes Were Sold
At Asking

113 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Springfield, you could pay more than the asking price. 63.5% of homes here sold above asking price last month.

Average Sale Time

Dec 2020Dec 2021%
30 Days31 Days+3.1%

Breakdown of Home Sale Times

120 Homes Were Sold
Under 30 Days

52 Homes Were Sold
In 30 - 90 Days

6 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.

About Springfield, MA

Homes for sale in Springfield, MA have reached 604. The inventory of homes for sale in Springfield, MA between November 2021 and December 2021 decreased by 6.2%. In December 2021 median list price was $235,167 and the average listing age was 31 days. This housing market listing prices have changed between November 2021 and December 2021: the cost of 1 bedroom properties went up by 8.8%, the cost of 2 bedrooms properties went up by 15.4%, the cost of 3 bedrooms properties went up by 18.3%, prices of 4 bedrooms properties went up by 16.8%, prices of 5 bedrooms properties went up by 11.1%. Volume of homes for sale in this real estate market have seen the following changes: the quantity of 1 bedroom homes went down by 20%, volume of 2 bedrooms homes went up by 7.9%, number of 3 bedrooms homes decreased by 11.7%, volume of 4 bedrooms homes went down by 10%, volume of 5 bedrooms homes went down by 0.5%. Over 113 listings were sold over their listed price in December 2021 in Springfield, MA. In the same period over 49 listings were sold below the listed price and 16 listings were sold for the listed price.

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