Springfield, NJ Real Estate Market Trends

Springfield, NJ

Springfield, NJ Real Estate Market Trends – Listing vs. Sold Prices

If you are planning to buy a home in Springfield, NJ or if selling a home in Springfield, NJ is in your future, I thought it might be helpful to take a minute to talk about the current Springfield, NJ Real Estate Market Trends.  Before we do that, let me explain what the difference is between a “listing price” and a “sold price”. The price that a seller is asking for their home is referred to as the “listing price”. The dollar amount the buyers are willing to pay for the home is the sold price. When we start to compare the listing and sold prices, it gives us a good idea of where the real estate market is heading. The median listing and sold property prices are calculated based on the market activity each month. In looking at the chart that follows, we can see that the median listing prices in Springfield, NJ started to rise in the Spring of 2016 and have been remaining fairly steady through the Summer and now into the Fall. The median sold prices reached a low in December of last year and have been rising since, with the exception of a dip in June of 2016. The gap between the median listing and median sold prices started closing in the Springfield, NJ Real Estate Market in March 2016, with the median sold prices peaking in September, 2016.

Springfield, NJ Real Estate Market Trends

Springfield, NJ Real Estate Market Pricing Trends

New Providence, NJ Real Estate Market Trends – Market Inventory Trends

Looking further into recent Springfield, NJ Real Estate Market Trends, let’s look at the number of active listings and how long they were on the market. The number of active listings in Springfield, NJ dropped by 5% from the previous month.  The median number of days active properties have been listed is 63, which is significantly shorter than the national average. The number of sales increased by 200% from the previous month.

Springfield, NJ Market Inventory Trends

Springfield, NJ Real Estate Market Trends – Learn More!

As we continue to examine recent Springfield, NJ Real Estate Market Trends, other important statistics to note for Single Family Homes and Condos in Springfield, NJ are as follows:  The median listing price is:  $496,370.  The Median Days on Market is:  63  The number of Active Listings are:  65.

I hope you found this information helpful. If you want to see any of the homes for sale in Springfield, NJ, please be sure to contact me. I would love to set up a showing for you. To learn more about Springfield, NJ, please be sure to visit my website at www.NJRealEstateDirect.com.