Is Springfield Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Springfield Township has remained a Seller's Market.
Housing Prices in Springfield Township, NJ
How much do homes in Springfield Township, NJ cost?
Median Sold Price
$615,000
$326/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Springfield Township was $615,000 in March 2024, up 11.8% from last year, and the median price per square foot was $326.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $235K | $277.5K | +18.1% |
2 Bedrooms | $430K | $441.5K | +2.7% |
3 Bedrooms | $532.5K | $572.5K | +7.5% |
4 Bedrooms | $655K | $698K | +6.6% |
5+ Bedrooms | $737.5K | $1.0M | +42.5% |
Summary: Springfield Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.1%, 2 bedroom homes increased by 2.7%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes increased by 42.5%.
Median Sold Price Compared To Nearby Cities
Millburn Township | $1.5M | $1.7M | +16.7% |
Summit | $1.0M | $1.2M | +14.0% |
Millburn | $999.4K | $1.1M | +13.6% |
Springfield | $547.5K | $615K | +12.3% |
Springfield Township | $550K | $615K | +11.8% |
Housing Supply in Springfield Township, NJ
How many homes are available in Springfield Township, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
39 | 40 | +2.6% |
Summary: The Springfield Township real estate market had 40 homes for sale in March 2024, a 2.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 6 | +50.0% |
2 Bedrooms | 5 | 5 | 0.0% |
3 Bedrooms | 11 | 10 | -9.1% |
4 Bedrooms | 14 | 14 | 0.0% |
5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Springfield Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 9.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
11 | 13 | +18.2% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in Springfield Township in March 2024, up by 18.2% month-over-month. Of the 13 sold homes, 31% were sold under asking, 15% were sold at asking, and 54% were sold over asking.
Days on Market for Springfield Township, NJ
How long does it take to sell a home in Springfield Township, NJ?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 13 homes were sold in Springfield Township; 0% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.