Is Springfield, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer'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
$415,000
$287/sqft
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
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $230K | $205K | -10.9% |
| 2 Bedrooms | $315K | $310K | -1.6% |
| 3 Bedrooms | $400.6K | $407K | +1.6% |
| 4 Bedrooms | $498.6K | $489.9K | -1.7% |
| 5+ Bedrooms | $547.5K | $516.1K | -5.7% |
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
| Marcola | $625K | $666K | +6.6% |
| Pleasant Hill | $641.2K | $672K | +4.8% |
| Springfield | $399K | $415K | +4.0% |
| Eugene | $475K | $478.8K | +0.8% |
| Eugene-Springfield | $449.7K | $450K | 0.1% |
Housing Supply in Springfield, OR
How many homes are available in Springfield, OR?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 261 | 248 | -5.0% |
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
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 0 | -100.0% |
| 2 Bedrooms | 30 | 22 | -26.7% |
| 3 Bedrooms | 145 | 145 | 0.0% |
| 4 Bedrooms | 70 | 64 | -8.6% |
| 5+ Bedrooms | 12 | 17 | +41.7% |
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 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 55 | 41 | -25.5% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
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 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 42 Days | 36 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
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.
The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS of Portland, Oregon. Real estate listings held by another brokerage firm are marked with the RMLS logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2023 Regional Multiple Listing Service, Inc. (RMLS™) Portland, Oregon.