springfield/spall CONDO - MAY 2 0 2 4
MONTHS OF INVENTORY 5 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 0.5% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 26% VS 2023
▲ 21% VS 2023
▲ 104% VS 2023
▼ 15% VS 2023
There were 55 condo listings in Springfield/Spall in May, 4% above April and 104% higher than May 2023.
May condo sales remained the same month-over-month, at 11, and were 15% below May 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change 4% 5% 9% 4% 0% 4%
The months of inventory for condos in Springfield/Spall, at 5.0, reflected a balanced market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
11 55
13 27
-0.5% 26% 21% 141% -15% 104%
11 53
The condo median price in May was $539,500, a 9% increase from April and 21% above May 2023. The average sold price was $546,591, 5% above last month; the average PSF sale price was $400, up 4% to last month.
$400 $546,591 $539,500 5.0
$402 $433,769 $445,000 2.1
$385 $519,791 $495,000 4.8
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
55
42
53
53
38
37
35
43
31
29
27
27 14
26
25
23
11
13
9
11
5
11
10
3
3
3
1
6
15
$650K
$612K
$560K
$556K
$540K
$518K
$495K
$451K
$445K
$430K
$414K
$410K
$393K
May-23
Apr-24
May-24
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET <5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● MONTHS OF INV.
25
14.0
4+ bdrms
20
15
8.0
3 bdrms
4
10
3.6
10
2 bdrms
5
41
0
1
<$200K $200-$399K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 2 16 8.0 7 25 3.6 1 14 14.0 1 0 n/a
<2 bdrms
10
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. 43 ●
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