Altos Research
Springfield, VA
Single-Family Homes
Market Data for Realtors. Schedule a demo today at altos.re.
Springfield, VA
Wed Jan 16 2019
This week the median list price for Springfield, VA is $580,000 with the market action index hovering around 55. This is an increase over last month's market action index of 50. Inventory has held steady at or around 45.
Market Action Index
The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.
| Today |
| Last Month |
Strong Seller's Market
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Real-Time Market Profile
| Median List Price | $580,000 | |
| Per Square Foot | $254 | |
| Days on Market | 91 | |
| Price Decreased | 36% | |
| Price Increased | 7% | |
| Relisted | 18% | |
| Inventory | 45 | |
| Median House Rent | $2,625 | |
| Most Expensive | $995,000 | |
| Least Expensive | $429,999 | |
| Market Action Index Strong Seller's Market | 55 |
The market is hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.
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 |
|---|---|---|---|---|---|---|---|---|
| $869,000 | 3,935 | 0.25 - 0.5 acre | 4 | 3 | 26 | 1 | 1 | 138 |
| $639,500 | 2,600 | 0.25 - 0.5 acre | 4 | 3 | 48 | 3 | 3 | 69 |
| $549,800 | 2,306 | 0.25 - 0.5 acre | 4 | 2 | 48 | 3 | 2 | 90 |
| $504,950 | 1,810 | 0.25 - 0.5 acre | 3 | 2 | 54 | 4 | 3 | 71 |