Monthly Market Statistics, Springfiled Township – 2017 Year End

Settled Homes

244 residential properties settled in 2017 in Springfield Township. This is down from 280 homes in 2016. The majority of township sales activity fell between the two-hundred thousand dollar and five hundred thousand dollar price ranges (203 homes). 15 homes sold for $200k or less while 26 homes sold above $500k. The $301-350k price range was the most active in 2017 with 51 homes. $250-300k and $351-400k were a close second and third with 43 and 46 homes respectively.

Click here for an interactive map of homes sold in 2017.

Days-On-Market

With the exception of the $201-250k price range, all ranges below $500k had average days-on-market right around 30 days. Overall, 68% of the homes sold in Springfield Township in 2017 were on the market for 30 days or less.

Pending Homes

There were 17 pending homes at the close of 2017. The price range with the most pending homes was the $301-350k range, this is in line with the most active range for sold properties in 2017.

Active Homes

There were 36 active homes at the end of the year. The price range with the most homes on the market was the seven hundred thousand to one million dollar range. 11 homes sold in this range in 2017, 3 more were pending and 8 were active at year end. There were only 2 active properties in the $301-350k price range, this is quite a shortage considering that this is where we had the most sales activity in 2017.

The Total Market from 2013 through 2017

Average homes prices in Springfield township went from $331,125 in 2013 to $391,607 in 2017 for an increase of about 18%. Average days-on-market went from 66 days in 2013 to 38 days in 2017, this was a decrease of 43%. The shortage of listings in 2017 coupled with hungry buyers made for a fairly hot seller’s market.

The Current Market (1/8/2018)

Price Range: $200k-600k

• Current Inventory: 22 (1/8/2018)
• Average Monthly Sales: 17
• Inventory Accumulation: 1.2 Months

Total Springfield Market: $250k-$4.25M

• Current Inventory: 39 (1/8/2018)
• Average Monthly Sales: 20
• Inventory Accumulation: 1.9 Months

Do you have real estate questions? Call or text: 215-520-7166, email to: neil@realtorneil.com or try me at the office: 215-247-3600 ext. 340

Interactive Map - Homes Sold in 2017

Slides from the Video

Leave a Reply

Your email address will not be published. Required fields are marked *