springfield/spall CONDO - AUGUST 2 0 2 4
MONTHS OF INVENTORY 7.1 BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 7% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 128% VS 2023
▲ 60% VS 2023
▼ 9% VS 2023
▼ 17% VS 2023
There were 57 condo listings in Springeld/Spall in August, 1.7% below July and 128% higher than August 2023. August condo sales increased by 14% month-over-month, to 8, and were 60% above August 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The months of inventory for condos in Springeld/Spall, at 7.1, re)ected a balanced market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$498 $433,463 $462,500 7.1 8 57
$467 $478,000 $560,000 5.0 5 25
7% -9% -17% 43% 60% 128%
$429 $442,786 $425,000 8.3 7 58
16% -2% 9% -14% 14% -1.7%
The condo median price in August was $462,500, a 9% increase from July and 17% below August 2023. The average sold price was $433,463, 2% below last month; the average PSF sale price was $498, up 16% to last month.
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
56
57
53
58
58
55
53
38
43
31
29
25
35
26
23
11
11
9
8
11
3
3
3
5
1
8
7
6
22
$650K
$612K
$560K
$556K
$540K
$518K
$495K
$487K
$463K
$430K
$425K
$410K
$393K
Aug-23
Jul-24
Aug-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.
30
17.0
4+ bdrms
25
20
10.0
3 bdrms
15
4
5.8
10
6
2 bdrms
43
5
1.0
0
2
<$200K $200K-399K $400K-599K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M+ MOI INVENTORY SALES 1 1 1.0 1 17 17.0 5 29 5.8 1 10 10.0
<2 bdrms
10
Copyright © 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 September 9, 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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