Is Springfield Township, PA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Springfield Township has remained a Seller's Market.
Housing Prices in Springfield Township, PA
How much do homes in Springfield Township, PA cost?
Median Sold Price
$440,333
$245/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Springfield Township was $440,333 in March 2024, up 7.4% from last year, and the median price per square foot was $245.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $287.9K | N/A |
2 Bedrooms | $275K | $386K | +40.4% |
3 Bedrooms | $385.2K | $435K | +12.9% |
4 Bedrooms | $530K | $520K | -1.9% |
5+ Bedrooms | $765K | $632.5K | -17.3% |
Summary: Springfield Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 40.4%, 3 bedroom homes increased by 12.9%, 4 bedroom homes decreased by 1.9%, and 5+ bedroom homes decreased by 17.3%.
Housing Supply in Springfield Township, PA
How many homes are available in Springfield Township, PA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
40 | 44 | +10.0% |
Summary: The Springfield Township real estate market had 44 homes for sale in March 2024, a 10.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 7 | 5 | -28.6% |
3 Bedrooms | 16 | 25 | +56.3% |
4 Bedrooms | 10 | 10 | 0.0% |
5+ Bedrooms | 7 | 4 | -42.9% |
Summary: The Springfield Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 28.6%, 3 bedroom homes increased by 56.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 42.9%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
11 | 12 | +9.1% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Springfield Township in March 2024, up by 9.1% month-over-month. Of the 12 sold homes, 17% were sold under asking, 42% were sold at asking, and 42% were sold over asking.
Days on Market for Springfield Township, PA
How long does it take to sell a home in Springfield Township, PA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
33 Days | 13 Days | -60.0% |
Summary: Homes in Springfield Township had an average of 13 days on market in Mar 2024, down by 60% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 12 homes were sold in Springfield Township; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.