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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing West Springfield Town is a seller's market

Buyer's
Market

Difference Since August 2023

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

Key Takeaway

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

Housing Prices in West Springfield Town, MA

How much do homes in West Springfield Town, MA cost?

Median Sold Price

$309,500

$212/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2023

+$11,750(+3.9%)

Key Takeaway

Homes in West Springfield Town have sold for 3.9% more than they did a year ago.

Summary: The median home sold price in West Springfield Town was $309,500 in August 2024, up 3.9% from last year, and the median price per square foot was $212.

Median Sold Price By Bedroom Count

# BEDSAug 2023Aug 2024CHANGE
1 $125K$137.5K
+10.0%
2 $140K$258.5K
+84.6%
3 $295K$309K
+4.7%
4 $330K$340K
+3.0%
5+ $345K$338.5K
-1.9%

Summary: West Springfield Town housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10%, 2 bedroom homes increased by 84.6%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 3%, and 5+ bedroom homes decreased by 1.9%.

Median Sold Price Compared To Nearby Cities

Agawam
+8.9%
Agawam Town
+6.6%
West Springfield
+4.0%
West Springfield Town
+3.9%
Feeding Hills
0.0%

Housing Supply in West Springfield Town, MA

How many homes are available in West Springfield Town, MA?

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
68680.0%

Summary: The West Springfield Town real estate market had 68 homes for sale in August 2024, the same as July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 01
+100.0%
2 1716
-5.9%
3 2831
+10.7%
4 1514
-6.7%
5+ 86
-25.0%

Summary: The West Springfield Town housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 5.9%, 3 bedroom homes increased by 10.7%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes decreased by 25%.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
2417-29.2%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in West Springfield Town, you could pay more than the asking price. 64.7% of homes here sold above asking price last month.

Summary: A total of 17 homes were sold or pending in West Springfield Town in August 2024, down by 29.2% month-over-month. Of the 17 sold homes, 24% were sold under asking, 12% were sold at asking, and 65% were sold over asking.

Days on Market for West Springfield Town, MA

How long does it take to sell a home in West Springfield Town, MA?

Average Sale Time

Aug 2023Aug 2024CHANGE
23 Days22 Days-4.6%

Summary: Homes in West Springfield Town had an average of 22 days on market in Aug 2024, down by 4.6% compared to last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in West Springfield Town are selling fast, if you're buying plan to act quickly.

Summary: During August 2024, 17 homes were sold in West Springfield Town; 82% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

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

Report Updated 7 Days Ago

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Newest Listings in West Springfield Town, MA

Nearby Markets to West Springfield Town, MA

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MLS Disclaimers and Copyright

Based on information from MLS Property Information Network Inc. for the period 09/01/2022 - 09/01/2024

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.
Last updated on: 9/8/2024, 7:20:47 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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