Is Springfield, MO 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 August 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, MO cost?

Median Sold Price

$179,991

$149/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$23,768(+15.2%)

Key Takeaway

Homes in Springfield have sold for 15.2% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $44.5K$59.5K
+33.7%
2 $94.4K$115K
+21.8%
3 $157.6K$180K
+14.2%
4 $237.8K$272.5K
+14.6%
5+ $340K$385K
+13.2%

Median Sold Price Compared To Nearby Cities

Campbell No. 2C Township
+19.6%
Wilson A Township
+15.3%
Springfield
+15.2%
Springfield Township
+15.2%
Campbell No. 2 Township
+6.8%

How many homes are available in Springfield, MO?

Number of Homes For Sale

Jul 2022Aug 2022%
666674+1.2%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 1820
+11.1%
2 132138
+4.5%
3 354368
+4.0%
4 124112
-9.7%
5+ 3836
-5.3%

Number of Homes Sold

Jul 2022Aug 2022%
201239+18.9%

Asking Price vs. Sold Price

91 Homes Were Sold
Under Asking

49 Homes Were Sold
At Asking

95 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. 40.4% of homes here sold above asking price last month.

Average Sale Time

Aug 2021Aug 2022%
8 Days11 Days+30.1%

Breakdown of Home Sale Times

215 Homes Were Sold
Under 30 Days

22 Homes Were Sold
In 30 - 90 Days

2 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.

About Springfield, MO

There are 674 homes are for sale in Springfield, MO real estate market. Between July 2022 and August 2022, Springfield, MO real estate market has seen increase in the number of listings by 1.2%. While the average time on the market in August 2022 was 11 days, the median list price was $179,991. Listing prices have changed in this real estate market between July 2022 and August 2022: prices of 1 bedroom properties increased by 33.7%, prices of 2 bedrooms properties went up by 21.8%, the cost of 3 bedrooms properties went up by 14.2%, 4 bedrooms properties became 14.6% more expensive, prices of 5 bedrooms properties went up by 13.2%. The following changes in the number of homes for sale were observed in this housing market: 1 bedroom homes inventory increased by 11.1%, volume of 2 bedrooms homes went up by 4.5%, volume of 3 bedrooms homes went up by 4%, 4 bedrooms homes inventory decreased by 9.7%, 5 bedrooms homes became 5.3% less available. In August 2022, from all listings sold in Springfield, MO there were more than 95 sold above asking price, over 91 sold below and more than 49 were sold right at the asked price.

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