Is Springfield, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Springfield was a Seller's Market.
Housing Prices in Springfield, OR
How much do homes in Springfield, OR cost?
Median Sold Price
$420,470
$288/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Springfield was $420,470 in March 2024, up 5.1% from last year, and the median price per square foot was $288.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $235K | $233.7K | -0.5% |
2 Bedrooms | $315K | $318.5K | +1.1% |
3 Bedrooms | $400.2K | $411.5K | +2.8% |
4 Bedrooms | $504K | $490K | -2.8% |
5+ Bedrooms | $529.4K | $517.7K | -2.2% |
Summary: Springfield housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.5%, 2 bedroom homes increased by 1.1%, 3 bedroom homes increased by 2.8%, 4 bedroom homes decreased by 2.8%, and 5+ bedroom homes decreased by 2.2%.
Median Sold Price Compared To Nearby Cities
Marcola | $605K | $639.6K | +5.7% |
Springfield | $400K | $420.4K | +5.1% |
Eugene | $478.1K | $484.7K | +1.4% |
Eugene-Springfield | $453.6K | $450.3K | -0.7% |
Housing Supply in Springfield, OR
How many homes are available in Springfield, OR?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
263 | 268 | +1.9% |
Summary: The Springfield real estate market had 268 homes for sale in March 2024, a 1.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 29 | 21 | -27.6% |
3 Bedrooms | 157 | 171 | +8.9% |
4 Bedrooms | 64 | 65 | +1.6% |
5+ Bedrooms | 11 | 10 | -9.1% |
Summary: The Springfield housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 27.6%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes decreased by 9.1%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
41 | 42 | +2.4% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Summary: A total of 42 homes were sold or pending in Springfield in March 2024, up by 2.4% month-over-month. Of the 41 sold homes, 29% were sold under asking, 24% were sold at asking, and 46% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
32 Days | 62 Days | +96.5% |
Summary: Homes in Springfield had an average of 62 days on market in Mar 2024, up by 96.5% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During March 2024, 42 homes were sold in Springfield; 43% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.