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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Springfield is a seller's market

Buyer's
Market

Difference Since September 2021

Since last year, Springfield has remained a Seller's Market.

Key Takeaway

Springfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Springfield, PA cost?

Median Sold Price

$420,000

$215/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2021

+$34,166(+8.9%)

Key Takeaway

Homes in Springfield have sold for 8.9% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSSep 2021Sep 2022%
1 --
N/A
2 $265K$365K
+37.7%
3 $380K$397.5K
+4.6%
4 $429K$470K
+9.6%
5+ $485K$460K
-5.2%

Median Sold Price Compared To Nearby Cities

Morton
+18.2%
Swarthmore
+12.9%
Drexel Hill
+11.3%
Springfield
+8.9%
Springfield Township
+8.0%

How many homes are available in Springfield, PA?

Number of Homes For Sale

Aug 2022Sep 2022%
72720.0%

Homes For Sale By Bedroom Count

# BEDSAug 2022Sep 2022%
1 00
0.0%
2 53
-40.0%
3 4340
-7.0%
4 2025
+25.0%
5+ 44
0.0%

Number of Homes Sold

Aug 2022Sep 2022%
2219-13.6%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Springfield, you could pay more than the asking price. 47.4% of homes here sold above asking price last month.

Average Sale Time

Sep 2021Sep 2022%
12 Days19 Days+50.2%

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

0 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Springfield, PA

Springfield, PA has 72 homes on the market. The median list price of listings available in September 2022 was $420,000, while the average time on the real estate market was 19 days. This housing market listing prices have changed between August 2022 and September 2022: the cost of 1 bedroom properties went up by 0%, 2 bedrooms properties prices increased by 37.7%, the cost of 3 bedrooms properties went up by 4.6%, prices of 4 bedrooms properties increased by 9.6%, 5 bedrooms properties became 5.2% more cheaper. Volume of homes for sale in this real estate market have seen the following changes: 1 bedroom homes did not move, volume of 2 bedrooms homes went down by 40%, 3 bedrooms homes inventory decreased by 7%, 4 bedrooms homes inventory increased by 25%, the quantity of 5 bedrooms homes have not changed. In September 2022 more than 9 listings in Springfield, PA were sold above the asking price. During the same period more than 2 listings were sold at asking price, while more than 8 were sold below.

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