Is Springfield, OR a buyer’s or seller’s market?

Housing Market Conditions



Gauge showing Springfield is a neutral's market


Difference Since November 2022

At the same time last year, Springfield was a Seller's Market.

Key Takeaway

Springfield is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Springfield, OR

How much do homes in Springfield, OR cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since November 2022


Key Takeaway

Homes in Springfield have sold for 4% more than they did a year ago.

Summary: The median home sold price in Springfield was $415,000 in November 2023, up 4% from last year, and the median price per square foot was $287.

Median Sold Price By Bedroom Count

# BEDSNov 2022Nov 2023CHANGE
1 $230K$205K
2 $315K$310K
3 $400.6K$407K
4 $498.6K$489.9K
5+ $547.5K$516.1K

Summary: Springfield housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 10.9%, 2 bedroom homes decreased by 1.6%, 3 bedroom homes increased by 1.6%, 4 bedroom homes decreased by 1.7%, and 5+ bedroom homes decreased by 5.7%.

Median Sold Price Compared To Nearby Cities

Pleasant Hill

Housing Supply in Springfield, OR

How many homes are available in Springfield, OR?

Number of Homes For Sale

Oct 2023Nov 2023CHANGE

Summary: The Springfield real estate market had 248 homes for sale in November 2023, a 5.0% decrease compared to October 2023.

Homes For Sale By Bedroom Count

# BEDSOct 2023Nov 2023CHANGE
1 40
2 3022
3 145145
4 7064
5+ 1217

Summary: The Springfield housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 26.7%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 8.6%, and 5+ bedroom homes increased by 41.7%.

Number of Homes Sold

Oct 2023Nov 2023CHANGE

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Springfield, you may be able to get a good deal. 46.3% of homes here sold below asking price last month.

Summary: A total of 41 homes were sold or pending in Springfield in November 2023, down by 25.5% month-over-month. Of the 41 sold homes, 46% were sold under asking, 24% were sold at asking, and 29% were sold over asking.

Days on Market for Springfield, OR

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

Average Sale Time

Nov 2022Nov 2023CHANGE
42 Days36 Days-14.4%

Summary: Homes in Springfield had an average of 36 days on market in Nov 2023, down by 14.4% compared to last year.

Breakdown of Home Sale Times

21 Homes Were Sold
Under 30 Days

18 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Springfield are selling fast, if you're buying plan to act quickly.

Summary: During November 2023, 41 homes were sold in Springfield; 51% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 5% 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 2 Days Ago

Newest Listings in Springfield, OR

Nearby Markets to Springfield, OR

What housing markets are near Springfield, OR?