Is Springfield, MO a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Springfield has remained a Seller's Market.
Housing Prices in Springfield, MO
How much do homes in Springfield, MO cost?
Median Sold Price
$230,125
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Springfield was $230,125 in February 2024, up 9.6% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $61K | $84K | +37.7% |
2 Bedrooms | $122.4K | $127.9K | +4.4% |
3 Bedrooms | $203.3K | $225K | +10.7% |
4 Bedrooms | $320K | $340K | +6.3% |
5+ Bedrooms | $420K | $473.5K | +12.7% |
Summary: Springfield housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 37.7%, 2 bedroom homes increased by 4.4%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 12.7%.
Median Sold Price Compared To Nearby Cities
Campbell No. 2 Township | $242.5K | $274.5K | +13.2% |
Springfield | $210K | $230.1K | +9.6% |
Springfield Township | $210K | $230.2K | +9.6% |
Wilson A Township | $221K | $230.2K | +4.2% |
Campbell No. 2C Township | $279.9K | $281K | 0.4% |
Housing Supply in Springfield, MO
How many homes are available in Springfield, MO?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
791 | 831 | +5.1% |
Summary: The Springfield real estate market had 831 homes for sale in February 2024, a 5.1% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 12 | 11 | -8.3% |
2 Bedrooms | 123 | 135 | +9.8% |
3 Bedrooms | 385 | 400 | +3.9% |
4 Bedrooms | 194 | 198 | +2.1% |
5+ Bedrooms | 77 | 87 | +13.0% |
Summary: The Springfield housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 8.3%, 2 bedroom homes increased by 9.8%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes increased by 13%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
192 | 204 | +6.3% |
Asking Price vs. Sold Price
112 Homes Were Sold
Under Asking
41 Homes Were Sold
At Asking
40 Homes Were Sold
Over Asking
Summary: A total of 204 homes were sold or pending in Springfield in February 2024, up by 6.3% month-over-month. Of the 193 sold homes, 58% were sold under asking, 21% were sold at asking, and 21% were sold over asking.
Days on Market for Springfield, MO
How long does it take to sell a home in Springfield, MO?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
30 Days | 38 Days | +27.3% |
Summary: Homes in Springfield had an average of 38 days on market in Feb 2024, up by 27.3% compared to last year.
Breakdown of Home Sale Times
120 Homes Were Sold
Under 30 Days
60 Homes Were Sold
In 30 - 90 Days
24 Homes Were Sold
Over 90 Days
Summary: During February 2024, 204 homes were sold in Springfield; 59% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.