The Long & Foster Market Minute

Focus On: South Springfield Housing Market June 2021

Zip Code(s): 22153
Units Sold
Active Inventory
Median Sale Price
Days On Market
Vs. Year Ago
Up 65%
Vs. Year Ago
Up 25%
Vs. Year Ago
Down -46%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 82 sold this month in South Springfield Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is higher by 11 units or 65%. The total number of active inventory this June was 28 compared to 17 in June 2020. This month's total of 28 is higher than the previous month's total supply of available inventory of 22, an increase of 27%.

Median Sale Price
Last June, the median sale price for South Springfield Homes was $538,000. This June, the median sale price was $672,500, an increase of $134,500 compared to last year. The current median sold price is higher than in May.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Up 58%
Vs. Year Ago
Up 37%
Vs. Year Ago
Up 3.6%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In June, there was 0.3 months of supply available in South Springfield. The amount of supply is similar compared to a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 84 homes newly listed for sale in South Springfield compared to 53 in June 2020, an increase of 58%. There were 71 current contracts pending sale this June compared to 52 a year ago. The number of current contracts is 37% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in South Springfield was 105.1% of the average list price, which is 3.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 7, lower than the average last year, which was 13, a decrease of 46%.

The Long & Foster Market Minute South Springfield are defined as properties listed in zip code/s 22153.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.