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 September 2023

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.

Housing Prices in Springfield Township, PA

How much do homes in Springfield Township, PA cost?

Median Sold Price

$480,000

$265/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$27,475(+6.1%)

Key Takeaway

Homes in Springfield Township have sold for 6.1% more than they did a year ago.

Summary: The median home sold price in Springfield Township was $480,000 in September 2024, up 6.1% from last year, and the median price per square foot was $265.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 --
N/A
2 $336K$375K
+11.6%
3 $430K$450K
+4.7%
4 $524.5K$540K
+3.0%
5+ $758.8K$607.5K
-19.9%

Summary: Springfield Township housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 11.6%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 3%, and 5+ bedroom homes decreased by 19.9%.

Median Sold Price Compared To Nearby Cities

Lafayette Hill
+17.2%
Whitemarsh Township
+12.6%
Upper Dublin Township
+9.5%
Springfield Township
+6.1%
Fort Washington
+4.0%

Housing Supply in Springfield Township, PA

How many homes are available in Springfield Township, PA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
108100-7.4%

Summary: The Springfield Township real estate market had 100 homes for sale in September 2024, a 7.4% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 67
+16.7%
3 5653
-5.4%
4 3327
-18.2%
5+ 1313
0.0%

Summary: The Springfield Township housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 16.7%, 3 bedroom homes decreased by 5.4%, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
4427-38.6%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

9 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 Township, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.

Summary: A total of 27 homes were sold or pending in Springfield Township in September 2024, down by 38.6% month-over-month. Of the 27 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% 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

Sep 2023Sep 2024CHANGE
12 Days23 Days+85.6%

Summary: Homes in Springfield Township had an average of 23 days on market in Sep 2024, up by 85.6% compared to last year.

Breakdown of Home Sale Times

22 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

4 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.

Summary: During September 2024, 27 homes were sold in Springfield Township; 81% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.

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

Report Updated 30 Days Ago

Newest Listings in Springfield Township, PA

Nearby Markets to Springfield Township, PA

What housing markets are near Springfield Township, PA?