Is Springfield Township, OH a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Springfield Township is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Springfield Township, OH

How much do homes in Springfield Township, OH cost?

Median Sold Price

$184,380

$134/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$14,198(+8.3%)

Key Takeaway

Homes in Springfield Township have sold for 8.3% more than they did a year ago.

Summary: The median home sold price in Springfield Township was $184,380 in May 2024, up 8.3% from last year, and the median price per square foot was $134.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $77K$67.5K
-12.3%
2 $114K$137.7K
+20.8%
3 $178K$190K
+6.7%
4 $246K$245K
-0.4%
5+ $214K$240K
+12.1%

Summary: Springfield Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.3%, 2 bedroom homes increased by 20.8%, 3 bedroom homes increased by 6.7%, 4 bedroom homes decreased by 0.4%, and 5+ bedroom homes increased by 12.1%.

Median Sold Price Compared To Nearby Cities

Mogadore
+17.6%
Mogadore
+15.1%
Suffield Township
+10.1%
Springfield Township
+8.3%
Lakemore
-1.4%

Housing Supply in Springfield Township, OH

How many homes are available in Springfield Township, OH?

Number of Homes For Sale

Apr 2024May 2024CHANGE
255283+11.0%

Summary: The Springfield Township real estate market had 283 homes for sale in May 2024, a 11.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 4858
+20.8%
3 134137
+2.2%
4 6171
+16.4%
5+ 1217
+41.7%

Summary: The Springfield Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20.8%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 16.4%, and 5+ bedroom homes increased by 41.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
8283+1.2%

Asking Price vs. Sold Price

28 Homes Were Sold
Under Asking

14 Homes Were Sold
At Asking

39 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Springfield Township, you could pay more than the asking price. 48.1% of homes here sold above asking price last month.

Summary: A total of 83 homes were sold or pending in Springfield Township in May 2024, up by 1.2% month-over-month. Of the 81 sold homes, 35% were sold under asking, 17% were sold at asking, and 48% were sold over asking.

Days on Market for Springfield Township, OH

How long does it take to sell a home in Springfield Township, OH?

Average Sale Time

May 2023May 2024CHANGE
50 Days44 Days-12.9%

Summary: Homes in Springfield Township had an average of 44 days on market in May 2024, down by 12.9% compared to last year.

Breakdown of Home Sale Times

34 Homes Were Sold
Under 30 Days

39 Homes Were Sold
In 30 - 90 Days

10 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Springfield Township has remained consistent over time.

Summary: During May 2024, 83 homes were sold in Springfield Township; 41% of homes were sold within 30 days, 47% of homes were sold within 30 to 90 days, and 12% 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 18 Days Ago

Newest Listings in Springfield Township, OH

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