Is Springfield Township, PA 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 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
$475,000
$250/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 $475,000 in April 2024, up 7% from last year, and the median price per square foot was $250.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $290K | $383K | +32.1% |
3 Bedrooms | $416.5K | $442.5K | +6.2% |
4 Bedrooms | $529.5K | $525K | -0.8% |
5+ Bedrooms | $690K | $725K | +5.1% |
Summary: Springfield Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 32.1%, 3 bedroom homes increased by 6.2%, 4 bedroom homes decreased by 0.8%, and 5+ bedroom homes increased by 5.1%.
Median Sold Price Compared To Nearby Cities
Springfield Township | $443.9K | $475K | +7.0% |
Whitemarsh Township | $555K | $580.5K | +4.6% |
Upper Dublin Township | $549.9K | $563.4K | +2.5% |
Fort Washington | $625K | $630K | +0.8% |
Housing Supply in Springfield Township, PA
How many homes are available in Springfield Township, PA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
78 | 90 | +15.4% |
Summary: The Springfield Township real estate market had 90 homes for sale in April 2024, a 15.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 3 | 0.0% |
3 Bedrooms | 37 | 49 | +32.4% |
4 Bedrooms | 31 | 27 | -12.9% |
5+ Bedrooms | 7 | 11 | +57.1% |
Summary: The Springfield Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 32.4%, 4 bedroom homes decreased by 12.9%, and 5+ bedroom homes increased by 57.1%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
27 | 20 | -25.9% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in Springfield Township in April 2024, down by 25.9% month-over-month. Of the 20 sold homes, 10% were sold under asking, 30% were sold at asking, and 60% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
16 Days | 15 Days | -1.6% |
Summary: Homes in Springfield Township had an average of 15 days on market in Apr 2024, down by 1.6% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 20 homes were sold in Springfield Township; 85% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.