Is Springfield, OH 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 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.
Housing Prices in Springfield, OH
How much do homes in Springfield, OH cost?
Median Sold Price
$179,500
$132/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Springfield have sold for 35.3% more than they did a year ago.
Summary: The median home sold price in Springfield was $179,500 in March 2024, up 35.3% from last year, and the median price per square foot was $132.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $191.7K | $58.7K | -69.4% |
| 2 Bedrooms | $100K | $135K | +35.0% |
| 3 Bedrooms | $140K | $189.3K | +35.2% |
| 4 Bedrooms | $170K | $231.3K | +36.1% |
| 5+ Bedrooms | $157.5K | $216K | +37.1% |
Summary: Springfield housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 69.4%, 2 bedroom homes increased by 35%, 3 bedroom homes increased by 35.2%, 4 bedroom homes increased by 36.1%, and 5+ bedroom homes increased by 37.1%.
Median Sold Price Compared To Nearby Cities
| Springfield | $132.6K | $179.5K | +35.3% |
| German Township | $249K | $290K | +16.5% |
| Moorefield Township | $215K | $239.9K | +11.6% |
| Harmony Township | $262.7K | $289K | +10.0% |
| Springfield Township | $180K | $179.6K | -0.2% |
Housing Supply in Springfield, OH
How many homes are available in Springfield, OH?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 219 | 215 | -1.8% |
Summary: The Springfield real estate market had 215 homes for sale in March 2024, a 1.8% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 43 | 38 | -11.6% |
| 3 Bedrooms | 111 | 111 | 0.0% |
| 4 Bedrooms | 46 | 49 | +6.5% |
| 5+ Bedrooms | 18 | 16 | -11.1% |
Summary: The Springfield housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 11.6%, 3 bedroom homes remained the same, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes decreased by 11.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 66 | 56 | -15.2% |
Asking Price vs. Sold Price
31 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Springfield, you may be able to get a good deal. 55.4% of homes here sold below asking price last month.
Summary: A total of 56 homes were sold or pending in Springfield in March 2024, down by 15.2% month-over-month. Of the 56 sold homes, 55% were sold under asking, 20% were sold at asking, and 25% were sold over asking.
Days on Market for Springfield, OH
How long does it take to sell a home in Springfield, OH?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 69 Days | 46 Days | -33.2% |
Summary: Homes in Springfield had an average of 46 days on market in Mar 2024, down by 33.2% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
36 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Springfield has remained consistent over time.
Summary: During March 2024, 56 homes were sold in Springfield; 27% of homes were sold within 30 days, 64% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
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The information is being provided by Columbus and Central Ohio Regional Multiple Listing Service. Information deemed reliable but not guaranteed. Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase.