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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Springfield Township is a seller's market

Buyer's
Market

Difference Since August 2021

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

Key Takeaway

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

How much do homes in Springfield Township, PA cost?

Median Sold Price

$400,000

$214/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$25,000(+6.7%)

Key Takeaway

Homes in Springfield Township have sold for 6.7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $100K-
N/A
2 $285K$338.2K
+18.7%
3 $370K$382.5K
+3.4%
4 $420K$445K
+6.0%
5+ $490K$451K
-8.0%

Median Sold Price Compared To Nearby Cities

Morton
+28.9%
Swarthmore
+12.3%
Springfield Township
+6.7%
Springfield
+5.2%
Nether Providence Township
-9.2%

How many homes are available in Springfield Township, PA?

Number of Homes For Sale

Jul 2022Aug 2022%
4563+40.0%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 00
0.0%
2 11
0.0%
3 2841
+46.4%
4 1418
+28.6%
5+ 23
+50.0%

Number of Homes Sold

Jul 2022Aug 2022%
121+2000.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Springfield Township, you could pay more than the asking price. 61.9% of homes here sold above asking price last month.

Average Sale Time

Aug 2021Aug 2022%
16 Days15 Days-4.2%

Breakdown of Home Sale Times

17 Homes Were Sold
Under 30 Days

4 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 Township 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 Township, PA

Homes for sale in Springfield Township, PA have reached 63. The number of listings in Springfield Township, PA increased by 40% between July 2022 and August 2022. Listings spent 15 days on the market in August 2022, and had a median list price of $400,000 during the same period. Between July 2022 and August 2022, listing prices of homes in this real estate market have seen the following changes: 1 bedroom properties prices increased by 0%, prices of 2 bedrooms properties went up by 18.7%, 3 bedrooms properties became 3.4% more expensive, prices of 4 bedrooms properties increased by 6%, prices of 5 bedrooms properties decreased by 8%. This housing market inventory have changed: 1 bedroom homes inventory did not change, number of 2 bedrooms homes remained the same, volume of 3 bedrooms homes went up by 46.4%, volume of 4 bedrooms homes went up by 28.6%, volume of 5 bedrooms homes went up by 50%. Springfield Township, PA housing market in August 2022 saw over 13 listings sold above listed price, more than 2 sold at listed price and over 6 sold below.

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