springfield/spall DETACHED - MAY 2 0 2 4
MONTHS OF INVENTORY 5.4 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 0.6% VS 2023
▲ 29% VS 2023
▼ 13% VS 2023
▼ 50% VS 2023
There were 27 detached listings in Springfield/Spall in May, 10% below April and 29% higher than May 2023.
May detached home sales decreased by 17% month-over-month, to 5, and were 50% below May 2023.
THIS MONTH No.
PREVIOUS MONTH No.
PREVIOUS YEAR
No.
% Change
% Change
The months of inventory for detached in Springfield/Spall, at 5.4, reflected a balanced market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$740,700 $870,000 5.4 5 27
10 21
-13% 0.6% 157% -50% 29%
$659,646 $672,500 5.0 6 30
12% 29% 8% -17% -10%
The detached median price in May was $870,000, a 28% increase from April and 0.6% above May 2023.
$847,750 $864,500 2.1
The average sold price was $740,700, 12% above last month and down 13% to May 2023.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
36
34
46
32
35
30
29
32
27
27
28
26
25
34
21
10
7
7
6
5
3
3
5
2
2
1
3
16
$900K
$865K
$870K
$833K
$816K
$735K
$673K
$659K
$580K
$585K
$500K
$505K
May-23
Apr-24
May-24
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY ● MONTHS OF INVENTORY
7
6.0
6
5
4
2.3
3
2
1.0
1
0
<$600K
$600-799K
$800-999K
$1.0M-1.24M $1.25M-1.49M $1.5M-1.74M $1.75M-1.99M $2.0M-2.49M $2.5M-2.99M
$3M+
MOI INVENTORY SALES
1 6 6.0
1 1 1.0
3 7 2.3
0 2 n/a
0 5 n/a
0 1 n/a
0 4 n/a
0 1 n/a
Copyright © June 10, 2024 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of June 10, 2024. All data from Association of Interior Realtors & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E. 41 ●
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