Is Springfield, WV a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Springfield has remained a Seller's Market.
Key Takeaway
Springfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Springfield, WV
How much do homes in Springfield, WV cost?
Median Sold Price
$180,000
$138/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Springfield have sold for 14.3% less than they did a year ago.
Summary: The median home sold price in Springfield was $180,000 in May 2024, down 14.3% from last year, and the median price per square foot was $138.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $129.9K | $132.4K | +2.0% |
| 2 Bedrooms | $146.2K | $170K | +16.2% |
| 3 Bedrooms | $217.2K | $180K | -17.1% |
| 4 Bedrooms | $387K | $412.5K | +6.6% |
| 5+ Bedrooms | $382K | $160K | -58.1% |
Summary: Springfield housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2%, 2 bedroom homes increased by 16.2%, 3 bedroom homes decreased by 17.1%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes decreased by 58.1%.
Median Sold Price Compared To Nearby Cities
| Gore | $253K | $294.5K | +16.4% |
| Springfield | $210K | $180K | -14.3% |
Housing Supply in Springfield, WV
How many homes are available in Springfield, WV?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 8 | -11.1% |
Summary: The Springfield real estate market had 8 homes for sale in May 2024, a 11.1% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Springfield housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 33.3%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 2 | -33.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Springfield, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in Springfield in May 2024, down by 33.3% month-over-month. Of the 2 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for Springfield, WV
How long does it take to sell a home in Springfield, WV?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 40 Days | 5 Days | -86.5% |
Summary: Homes in Springfield had an average of 5 days on market in May 2024, down by 86.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Springfield are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in Springfield; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
