Altos Market Data for Realtors
Springfield, VA
Single-Family Homes
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Springfield, VA
Wed Oct 23 2019
This week the median list price for Springfield, VA is $622,450 with the market action index hovering around 57. This is an increase over last month's market action index of 54. Inventory has held steady at or around 70.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
While the Market Action Index shows some strengthening in the last few weeks, prices have settled in a bit of a plateau. We are currently in a Seller’s market so prices will likely resume their climb should this trend persist.
Real-Time Market Profile
| Median List Price | $622,450 | |
| Per Square Foot | $231 | |
| Days on Market | 59 | |
| Price Decreased | 47% | |
| Price Increased | 1% | |
| Relisted | 17% | |
| Inventory | 70 | |
| Median House Rent | $2,600 | |
| Most Expensive | $1,800,000 | |
| Least Expensive | $420,000 | |
| Market Action Index Strong Seller's Market | 57 |
The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.
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 |
|---|---|---|---|---|---|---|---|---|
| $937,500 | 5,342 | 0.25 - 0.5 acre | 5 | 4 | 16 | 2 | 1 | 72 |
| $699,000 | 3,050 | 0.25 - 0.5 acre | 5 | 3 | 41 | 2 | 2 | 49 |
| $580,000 | 2,262 | 0.25 - 0.5 acre | 4 | 2 | 53 | 4 | 7 | 68 |
| $517,450 | 1,630 | 0.25 - 0.5 acre | 4 | 2 | 60 | 2 | 5 | 46 |