Total Units Sold: 3
Detached: 3
Condo/Lofts:n/a
Days on Market: 110
Detached: 110
Condo/Loft: n/a
Average Sales Price: $149,667
Detached: $149,667
Condo/Loft: n/a
Median Sales Price: $36,000
Detached: $36,000
Condo Loft: n/a
Average Sale Price/List Price: 89%
Detached: 89%
Condo/Loft: n/a
Sales decreased 50% in January from December of 2008. 66% of the sales in January were REO.
In January, there were 81 homes for sale. This represents an inventory of 18 months for detached homes based on the current rate of sales over the last 6 months. These absorption rates continue to be encouraging when compared to many other parts of the country, some of which have over 2 years of inventory.
In January 16 new homes came on the market. During this time, 11 went into pending (one of which fell through and is active again), compared to 20 going pending in December. (Remember, just because a home goes pending does not mean it will close).
This overview of the Springfield real estate market is based on information provided by the MLS for homes that went under contract in the last couple of months and closed in January. More details can be provided if needed with regard to current activity as well as within the specific Historic District of Springfield.
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