Is Springfield, MO a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Springfield has remained a Seller's Market.
Housing Prices in Springfield, MO
How much do homes in Springfield, MO cost?
Median Sold Price
$233,702
$146/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Springfield was $233,702 in April 2024, up 9.6% from last year, and the median price per square foot was $146.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $61K | $83K | +36.1% |
2 Bedrooms | $122.9K | $131.8K | +7.2% |
3 Bedrooms | $205.2K | $225.3K | +9.8% |
4 Bedrooms | $320K | $340K | +6.3% |
5+ Bedrooms | $427.4K | $477.4K | +11.7% |
Summary: Springfield housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 36.1%, 2 bedroom homes increased by 7.2%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 11.7%.
Median Sold Price Compared To Nearby Cities
Springfield | $213.2K | $233.7K | +9.6% |
Springfield Township | $213.2K | $233.6K | +9.6% |
Campbell No. 2 Township | $242.5K | $262K | +8.0% |
Wilson A Township | $214K | $230.5K | +7.7% |
Campbell No. 2C Township | $279.9K | $290K | +3.6% |
Housing Supply in Springfield, MO
How many homes are available in Springfield, MO?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
909 | 972 | +6.9% |
Summary: The Springfield real estate market had 972 homes for sale in April 2024, a 6.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 8 | 11 | +37.5% |
2 Bedrooms | 144 | 169 | +17.4% |
3 Bedrooms | 437 | 480 | +9.8% |
4 Bedrooms | 213 | 204 | -4.2% |
5+ Bedrooms | 107 | 108 | +0.9% |
Summary: The Springfield housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 37.5%, 2 bedroom homes increased by 17.4%, 3 bedroom homes increased by 9.8%, 4 bedroom homes decreased by 4.2%, and 5+ bedroom homes increased by 0.9%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
256 | 269 | +5.1% |
Asking Price vs. Sold Price
115 Homes Were Sold
Under Asking
65 Homes Were Sold
At Asking
84 Homes Were Sold
Over Asking
Summary: A total of 269 homes were sold or pending in Springfield in April 2024, up by 5.1% month-over-month. Of the 264 sold homes, 44% were sold under asking, 25% were sold at asking, and 32% were sold over asking.
Days on Market for Springfield, MO
How long does it take to sell a home in Springfield, MO?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
25 Days | 26 Days | +5.1% |
Summary: Homes in Springfield had an average of 26 days on market in Apr 2024, up by 5.1% compared to last year.
Breakdown of Home Sale Times
201 Homes Were Sold
Under 30 Days
48 Homes Were Sold
In 30 - 90 Days
20 Homes Were Sold
Over 90 Days
Summary: During April 2024, 269 homes were sold in Springfield; 75% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.