Altos Market Data for Realtors

Springfield, VA

Single-Family Homes

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Springfield, VA

Tue Oct 27 2020
This week the median list price for Springfield, VA is $704,500 with the market action index hovering around 85. This is less than last month's market action index of 89. Inventory has held steady at or around 32. 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 started cooling and prices have recently plateaued. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Springfield, VA

Tue Oct 27 2020
This week the median list price for Springfield, VA is $704,500 with the market action index hovering around 85. This is less than last month's market action index of 89. Inventory has held steady at or around 32. 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 started cooling and prices have recently plateaued. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Springfield market.
Median List Price $704,500
Per Square Foot $267
Days on Market 44
Price Decreased 38%
Price Increased 9%
Relisted 6%
Inventory 32
Median Rent $3,000
Most Expensive $1,490,000
Least Expensive $459,900
Market Action 85
Strong Seller's Market

Despite this week’s up tic, the market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this shift.

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
$1,212,500 6,861 0.5 - 1 acre 6 5 18 1 0 91
$780,000 3,421 0.25 - 0.5 acre 5 3 34 2 2 35
$654,500 2,047 0.25 - 0.5 acre 4 3 48 2 2 22
$499,495 1,431 0.25 - 0.5 acre 3 2 61 3 2 24