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 2021

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

$260,000

$168/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2021

+$24,998(+10.6%)

Key Takeaway

Homes in Springfield have sold for 10.6% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2021Dec 2022%
1 $131.2K$112.5K
-14.3%
2 $191.6K$216K
+12.7%
3 $235K$259.6K
+10.5%
4 $249.8K$270K
+8.1%
5+ $255K$300K
+17.6%

Median Sold Price Compared To Nearby Cities

East Longmeadow
+11.1%
Springfield
+10.6%
Ludlow
+8.4%
Chicopee
+7.6%
Wilbraham
+3.9%

How many homes are available in Springfield, MA?

Number of Homes For Sale

Nov 2022Dec 2022%
450354-21.3%

Homes For Sale By Bedroom Count

# BEDSNov 2022Dec 2022%
1 97
-22.2%
2 5849
-15.5%
3 154120
-22.1%
4 9571
-25.3%
5+ 134107
-20.1%

Number of Homes Sold

Nov 2022Dec 2022%
137109-20.4%

Asking Price vs. Sold Price

36 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

62 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. 56.9% of homes here sold above asking price last month.

Average Sale Time

Dec 2021Dec 2022%
31 Days38 Days+21.6%

Breakdown of Home Sale Times

59 Homes Were Sold
Under 30 Days

41 Homes Were Sold
In 30 - 90 Days

9 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.

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

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151 Switzer Ave, Springfield, MA 01109

$210,000

2

1

720 SqFt

151 Switzer Ave, Springfield MA, 01109

Keeley Tessier

Listing Office:

Naples Realty Group

#73074252

MLS logo
271 Parkerview St, Springfield, MA 01129

$295,000

3

1 Full, 1 Partial

1,092 SqFt

271 Parkerview St, Springfield MA, 01129

Donald Thompson

Listing Office:

NextHome Elite Realty

#73074228

MLS logo
138 Bloomfield St, Springfield, MA 01108

$329,000

4

2

1,610 SqFt

138 Bloomfield St, Springfield MA, 01108

Christine Moore

Listing Office:

Crescent Hill Real Estate

#73074144

MLS logo
140 Eddy St, Springfield, MA 01104

$239,000

3

1

1,015 SqFt

140 Eddy St, Springfield MA, 01104

Gretchen O'Neil

Listing Office:

Coldwell Banker Community REALTORS®

#73074097

MLS logo
109 Bretton Rd, Springfield, MA 01119

$304,900

3

2

1,628 SqFt

109 Bretton Rd, Springfield MA, 01119

Stacie Pride

Listing Office:

Gallagher Real Estate

#73074087

MLS logo
60-62 Edgemont St, Springfield, MA 01109

$319,900

6

2

2,329 SqFt

60-62 Edgemont St, Springfield MA, 01109

Jorge Zea

Listing Office:

Jorge Andres Zea

#73073994

MLS logo
91-93 Fenwick St, Springfield, MA 01109

$305,000

9

2 Full, 1 Partial

3,624 SqFt

91-93 Fenwick St, Springfield MA, 01109

Ian Ross

Listing Office:

Dorrance Realty LLC

#73073899

MLS logo
21 Forest St, Springfield, MA 01108

$299,900

8

3

3,297 SqFt

21 Forest St, Springfield MA, 01108

Christine Santaniello

Listing Office:

Christine Santaniello Realty

#73073873

MLS logo
360 Eastern Ave, Springfield, MA 01109

$259,900

3

1 Full, 1 Partial

1,328 SqFt

360 Eastern Ave, Springfield MA, 01109

Michael Parker

Listing Office:

Coldwell Banker Realty - Chicopee

#73073714

MLS logo
72 Malden St, Springfield, MA 01108

$319,900

9

2

2,340 SqFt

72 Malden St, Springfield MA, 01108

Anthony Ardolino

Listing Office:

Berkshire Hathaway HomeServices Realty Professionals

#73073691

MLS logo
66 Warrenton St, Springfield, MA 01109

$320,000

4

2

2,070 SqFt

66 Warrenton St, Springfield MA, 01109

Nicholas Graveline

Listing Office:

The Graveline Group, LLC

#73073663

MLS logo
35 Helberg Rd, Springfield, MA 01128

$279,900

4

1

1,269 SqFt

35 Helberg Rd, Springfield MA, 01128

Lisa Oleksak-Sullivan

Listing Office:

Coldwell Banker Realty - Westfield

#73073654

MLS logo

About Springfield, MA

Springfield, MA has 354 homes on the market. Between November 2022 and December 2022, Springfield, MA real estate market has seen decrease in the number of listings by 21.3%. The median list price of listings available in December 2022 was $260,000, while the average time on the real estate market was 38 days. Listing prices have changed in this real estate market between November 2022 and December 2022: the cost of 1 bedroom properties went down by 14.3%, prices of 2 bedrooms properties went up by 12.7%, prices of 3 bedrooms properties increased by 10.5%, prices of 4 bedrooms properties increased by 8.1%, 5 bedrooms properties prices increased by 17.6%. Volume of homes for sale changed: 1 bedroom homes became 22.2% less available, the quantity of 2 bedrooms homes went down by 15.5%, 3 bedrooms homes inventory decreased by 22.1%, number of 4 bedrooms homes decreased by 25.3%, 5 bedrooms homes inventory decreased by 20.1%. Over 62 listings were sold over their listed price in December 2022 in Springfield, MA. In the same period over 36 listings were sold below the listed price and 11 listings were sold for the listed price.

MLS Disclaimers and Copyright

Based on information from MLS Property Information Network Inc. for the period 01/01/2021 - 01/01/2023

IDX Disclaimer: The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. We may make use of information provided by users of this website - see our Terms of Use for more details on our privacy policy.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.

Note: Any Compensation information displayed on listing details is only applicable to other member participants of the source MLS.

Last updated on: 1/28/2023, 1:20:51 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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