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How’s the Real Estate
Market
in Springfield?
July, 2014
If you're planning on
buying or selling a home
in Springfield,
the first step is to
learn about the
Springfield real estate
market conditions.
Inventory
There are
currently 85
homes
offered for
sale in
Springfield
and they
range in price
from
$119,000 to
$1,199,000.
0
20
40
60
80
100
120
140
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Homes
Active and Sold Listings - Springfield, NJ
0
20
40
60
80
100
120
140
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Homes
Active and Sold Listings - Springfield, NJ
Inventory
12 month avg= 95
July 2014 = 113
July 2013 = 108
July 2012 = 100
July ‘12
July ‘13
July ‘14
12 month avg
0
20
40
60
80
100
120
140
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Homes
Active and Sold Listings - Springfield, NJ
Inventory
12 month avg= 95
July 2014 = 113
July 2013 = 108
July 2012 = 100
July ‘12
July ‘13
July ‘14
12 month avg
Increasing
inventory
usually results
in decreasing
prices.
Prices
The average
selling price
of a home
in
Springfield
in July was
$469,874.
0
100000
200000
300000
400000
500000
600000
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Average Sale Price and List Price - Springfield, NJ
0
100000
200000
300000
400000
500000
600000
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Average Sale Price and List Price - Springfield, NJ
Prices
12 month avg = $390,822
July 2014 = $ 469,874
July 2013 = $320,785
July 2012 = $411,109
July ‘12
July ‘13
July ‘14
0
100000
200000
300000
400000
500000
600000
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Average Sale Price and List Price - Springfield, NJ
Prices
12 month avg = $390,822
July 2014 = $ 469,874
July 2013 = $320,785
July 2012 = $411,109
July ‘12
July ‘13
July ‘14
Prices have recovered
from last summer’s low
and are now well above
the 12 month average.
Days on Market
The average
sold home in
Springfield in
July was sold
after 43
days.
0
20
40
60
80
100
120
140
160
180
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Average Days on Market - Springfield
0
20
40
60
80
100
120
140
160
180
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Average Days on Market - Springfield
Days on Market
12 month avg = 63
July 2014 = 40
July 2013 = 49
July 2012 = 74
July ‘12
July ‘13
July ‘14
0
20
40
60
80
100
120
140
160
180
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Average Days on Market - Springfield
Days on Market
12 month avg = 63
July 2014 = 40
July 2013 = 49
July 2012 = 74
July ‘12
July ‘13
July ‘14Homes are selling more
quickly now than they
have in years!
What does this mean to you?
Homes are selling quickly and an increase in prices
indicates that there is some competition for
homes. Inventory is still relatively high, though,
and this may impact the fall market.
If you’re planning to BUY a home, be prepared to
act fast!
If you’re planning to SELL a home, you need to
make sure your home is in top showing condition
and that it’s priced right so that it stands up to
the competition!
Springfield Real Estate Market Report - July 2014

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Springfield Real Estate Market Report - July 2014