Is Springfield, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Springfield was a Seller's Market.
Key Takeaway
Springfield is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Springfield, FL
How much do homes in Springfield, FL cost?
Median Sold Price
$243,000
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Springfield have sold for 10.5% more than they did a year ago.
Summary: The median home sold price in Springfield was $243,000 in May 2024, up 10.5% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $140K | $120K | -14.3% |
| 3 Bedrooms | $220.5K | $240K | +8.8% |
| 4 Bedrooms | $287.5K | $275K | -4.3% |
| 5+ Bedrooms | $400K | $245K | -38.8% |
Summary: Springfield housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 8.8%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes decreased by 38.8%.
Median Sold Price Compared To Nearby Cities
| Springfield | $220K | $243K | +10.5% |
| Parker | $222K | $240K | +8.1% |
| Panama City | $340.3K | $348.8K | +2.5% |
| Callaway | $285K | $290K | +1.8% |
Housing Supply in Springfield, FL
How many homes are available in Springfield, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 45 | 51 | +13.3% |
Summary: The Springfield real estate market had 51 homes for sale in May 2024, a 13.3% increase 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 | 27 | 28 | +3.7% |
| 4 Bedrooms | 11 | 16 | +45.5% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
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 3.7%, 4 bedroom homes increased by 45.5%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 8 | +60.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Springfield, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Springfield in May 2024, up by 60.0% month-over-month. Of the 8 sold homes, 63% were sold under asking, 25% were sold at asking, and 13% were sold over asking.
Days on Market for Springfield, FL
How long does it take to sell a home in Springfield, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 39 Days | 88 Days | +127.6% |
Summary: Homes in Springfield had an average of 88 days on market in May 2024, up by 127.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Springfield has remained consistent over time.
Summary: During May 2024, 8 homes were sold in Springfield; 25% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange program of Central Panhandle Association of REALTORS®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Properties subject to prior sale, change, withdrawal or rental. Copyright© 2024 Central Panhandle Association of REALTORS.© All Rights Reserved.
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