Altos Market Data for Realtors

Springfield, VA

Single-Family Homes

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Springfield, VA

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. Click here to stay informed with the Springfield market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. However, the market is still notably in the Seller’s zone so we haven’t yet seen prices move lower as a result. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.

Springfield, VA

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. Click here to stay informed with the Springfield market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. However, the market is still notably in the Seller’s zone so we haven’t yet seen prices move lower as a result. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.

Real-Time Market Profile

Never miss important changes in the Springfield market.
Median List Price $699,900
Per Square Foot $241
Days on Market 31
Price Decreased 43%
Price Increased 3%
Relisted 0%
Inventory 30
Median Rent $2,850
Most Expensive $1,790,000
Least Expensive $409,900
Market Action 81
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.

Market Segments

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