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
$440,000
$244/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 $440,000 in March 2024, up 9.7% from last year, and the median price per square foot was $244.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $262.5K | $383K | +45.9% |
3 Bedrooms | $385K | $430K | +11.7% |
4 Bedrooms | $505K | $517.5K | +2.5% |
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 45.9%, 3 bedroom homes increased by 11.7%, 4 bedroom homes increased by 2.5%, 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 |
---|---|---|
42 | 45 | +7.1% |
Summary: The Springfield Township real estate market had 45 homes for sale in March 2024, a 7.1% 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 | 19 | 27 | +42.1% |
4 Bedrooms | 10 | 10 | 0.0% |
5+ Bedrooms | 6 | 3 | -50.0% |
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 42.1%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
12 | 13 | +8.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in Springfield Township in March 2024, up by 8.3% month-over-month. Of the 13 sold homes, 23% were sold under asking, 38% were sold at asking, and 38% 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 |
---|---|---|
32 Days | 14 Days | -56.0% |
Summary: Homes in Springfield Township had an average of 14 days on market in Mar 2024, down by 56% compared to last year.
Breakdown of Home Sale Times
11 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, 13 homes were sold in Springfield Township; 85% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.