Is Springfield Township, PA 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 Township was a Seller's Market.
Key Takeaway
Springfield Township 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 Township, PA
How much do homes in Springfield Township, PA cost?
Median Sold Price
$452,000
$247/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Springfield Township have sold for 5.1% more than they did a year ago.
Summary: The median home sold price in Springfield Township was $452,000 in May 2024, up 5.1% from last year, and the median price per square foot was $247.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $285K | $383K | +34.4% |
| 3 Bedrooms | $425K | $440K | +3.5% |
| 4 Bedrooms | $510K | $525K | +2.9% |
| 5+ Bedrooms | $825K | $757.6K | -8.2% |
Summary: Springfield Township 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 increased by 34.4%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes decreased by 8.2%.
Median Sold Price Compared To Nearby Cities
| Coopersburg | $394.9K | $425K | +7.6% |
| Springfield Township | $430K | $452K | +5.1% |
| Upper Saucon Township | $525K | $506.5K | -3.5% |
| Lower Saucon Township | $500K | $438.2K | -12.3% |
Housing Supply in Springfield Township, PA
How many homes are available in Springfield Township, PA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 64 | 84 | +31.3% |
Summary: The Springfield Township real estate market had 84 homes for sale in May 2024, a 31.3% 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 | 6 | 6 | 0.0% |
| 3 Bedrooms | 35 | 47 | +34.3% |
| 4 Bedrooms | 18 | 26 | +44.4% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Springfield Township 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 remained the same, 3 bedroom homes increased by 34.3%, 4 bedroom homes increased by 44.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 14 | +16.7% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Springfield Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Springfield Township in May 2024, up by 16.7% month-over-month. Of the 14 sold homes, 50% were sold under asking, 14% were sold at asking, and 36% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 18 Days | 12 Days | -29.6% |
Summary: Homes in Springfield Township had an average of 12 days on market in May 2024, down by 29.6% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Springfield Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 14 homes were sold in Springfield Township; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
