Is Springfield Township, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Springfield Township was a Seller's Market.
Housing Prices in Springfield Township, NJ
How much do homes in Springfield Township, NJ cost?
Median Sold Price
$615,000
$326/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Springfield Township was $615,000 in April 2024, up 12.8% from last year, and the median price per square foot was $326.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $235K | $280K | +19.1% |
2 Bedrooms | $435K | $451K | +3.7% |
3 Bedrooms | $520K | $570K | +9.6% |
4 Bedrooms | $660K | $714K | +8.2% |
5+ Bedrooms | $737.5K | $1.0M | +42.5% |
Summary: Springfield Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.1%, 2 bedroom homes increased by 3.7%, 3 bedroom homes increased by 9.6%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes increased by 42.5%.
Median Sold Price Compared To Nearby Cities
Millburn Township | $1.5M | $1.7M | +15.0% |
Springfield | $542.5K | $615K | +13.4% |
Springfield Township | $545K | $615K | +12.8% |
Summit | $1.1M | $1.2M | +11.4% |
Millburn | $999.9K | $1.1M | +10.0% |
Housing Supply in Springfield Township, NJ
How many homes are available in Springfield Township, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
38 | 46 | +21.1% |
Summary: The Springfield Township real estate market had 46 homes for sale in April 2024, a 21.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 4 | -33.3% |
2 Bedrooms | 4 | 9 | +125.0% |
3 Bedrooms | 10 | 15 | +50.0% |
4 Bedrooms | 13 | 16 | +23.1% |
5+ Bedrooms | 5 | 2 | -60.0% |
Summary: The Springfield Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 125%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes decreased by 60%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
14 | 7 | -50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Springfield Township in April 2024, down by 50.0% month-over-month. Of the 7 sold homes, 29% were sold under asking, 14% were sold at asking, and 57% were sold over asking.
Days on Market for Springfield Township, NJ
We’re sorry, we don't have information for this market at the moment