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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Springfield is a neutral'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

+$15,965(+4.0%)

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
-10.9%
2 $315K$310K
-1.6%
3 $400.6K$407K
+1.6%
4 $498.6K$489.9K
-1.7%
5+ $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
+6.6%
Pleasant Hill
+4.8%
Springfield
+4.0%
Eugene
+0.8%
Eugene-Springfield
0.1%

Housing Supply in Springfield, OR

How many homes are available in Springfield, OR?

Number of Homes For Sale

Oct 2023Nov 2023CHANGE
261248-5.0%

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

# BEDSOct 2023Nov 2023CHANGE
1 40
-100.0%
2 3022
-26.7%
3 145145
0.0%
4 7064
-8.6%
5+ 1217
+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 2023Nov 2023CHANGE
5541-25.5%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

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?