Springfield Housing Market Data: 2024
Housing Market Trends: Springfield Oregon
Welcome to our Springfield Housing Market Data page, a comprehensive resource designed to keep you informed about the latest trends and statistics in Springfield's real estate market. Whether you're planning to buy your dream house in Springfield or sell your home with our 1.95% Listing Advantage, understanding the current market dynamics is crucial for making informed decisions. Each month, we’ll analyze key real estate metrics and summarize their implications for our local housing market, providing you with a clear picture of what's happening in Springfield's housing landscape. Our data is collected from our local MLS and Altos.re, ensuring that both buyers and sellers have access to accurate and relevant information. Stay tuned for our monthly updates and insights, empowering you to make the best real estate choices in Springfield.
* Exluded from the real estate data are: condos, townhomes, mobile homes
Springfield Oregon Housing Market: January 2024
- Market Overview: The Springfield, Oregon real estate market exhibits a slight seller's advantage, reflecting a Market Action Index (MAI) of 42. This means that while buyers are active, sellers still enjoy favorable conditions.
- Median List Price: The median list price remains stable at $484,990, making Springfield an attractive destination for both homebuyers and sellers alike.
- Inventory Insights: Inventory levels have decreased, with 85 properties available on average over the past seven days. This reduction in supply suggests a competitive market.
- Days on Market: Properties in Springfield typically stay on the market for an average of 101 days, with a median of 63 days. This balanced timeframe allows buyers and sellers to make informed decisions.
- Monthly Day Supply: Our Monthly Day Supply currently stands at 1.7 months, calculated by dividing available homes by the last 30 days of homes in contract. This metric helps gauge the pace of the market, highlighting the supply and demand dynamics.
- Price Negotiations: Approximately 47% of properties have experienced a price decrease, indicating room for negotiation, which can be advantageous for buyers. This signifies an opportunity to explore flexible pricing options.
- Market Stability: Springfield's real estate market is experiencing a cooling trend while remaining in the seller's zone. Consistent prices and a balanced sales-to-inventory rate provide a stable environment for transactions.
*Graph provided by altos.re
In summary, Springfield, Oregon's real estate market offers opportunities for both buyers and sellers, with stable pricing and a balanced environment. Whether you're considering buying or selling, our team at Heart & Home Real Estate is here to assist you every step of the way. Stay informed, stay connected, and let’s make your next real estate move with confidence and success.