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.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$704,500|
|Per Square Foot||$267|
|Days on Market||44|
|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.
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|