Tue Nov 24 2020
This week the median list price for Springfield, VA is $699,900 with the market action index hovering around 81. This is less than last month's market action index of 86. Inventory has held steady at or around 30.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$699,900|
|Per Square Foot||$241|
|Days on Market||31|
|Strong Seller's Market|
The market continues its bounce again this week. We’re a long way from the market’s high point so watch the Market Action Index as a leading indicator for how long this trend will last.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$1,250,000||6,039||0.5 - 1 acre||5||5||10||0||1||41|
|$799,900||4,311||0.25 - 0.5 acre||5||3||41||1||1||43|
|$654,999||2,717||0.25 - 0.5 acre||4||3||55||2||2||20|
|$540,450||1,529||0.25 - 0.5 acre||3||2||59||0||3||21|