Is South Springfield, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, South Springfield was a Seller's Market.
Key Takeaway
South Springfield is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in South Springfield, OR
How much do homes in South Springfield, OR cost?
Median Sold Price
$465,000
$291/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in South Springfield have sold for 2.2% more than they did a year ago.
Summary: The median home sold price in South Springfield was $465,000 in April 2024, up 2.2% from last year, and the median price per square foot was $291.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $338K | $390K | +15.4% |
| 3 Bedrooms | $446.2K | $439K | -1.6% |
| 4 Bedrooms | $540K | $522.5K | -3.2% |
| 5+ Bedrooms | $755.5K | $895K | +18.5% |
Summary: South Springfield housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15.4%, 3 bedroom homes decreased by 1.6%, 4 bedroom homes decreased by 3.2%, and 5+ bedroom homes increased by 18.5%.
Housing Supply in South Springfield, OR
How many homes are available in South Springfield, OR?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 21 | 27 | +28.6% |
Summary: The South Springfield real estate market had 27 homes for sale in April 2024, a 28.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 17 | 22 | +29.4% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The South Springfield housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 29.4%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 3 | -57.1% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Springfield, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in South Springfield in April 2024, down by 57.1% month-over-month. Of the 3 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% were sold over asking.
Days on Market for South Springfield, OR
How long does it take to sell a home in South Springfield, OR?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 43 Days | 10 Days | -75.4% |
Summary: Homes in South Springfield had an average of 10 days on market in Apr 2024, down by 75.4% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Springfield are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 3 homes were sold in South Springfield; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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