Altos Market Data for Realtors

Springfield, VA

Single-Family Homes

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Springfield, VA

Tue Aug 09 2022
This week the median list price for Springfield, VA is $725,000 with the market action index hovering around 70. This is less than last month's market action index of 82. Inventory has increased to 71. 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 over time and prices plateaued for a while. Despite the consistent decrease in MAI, 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 Aug 09 2022
This week the median list price for Springfield, VA is $725,000 with the market action index hovering around 70. This is less than last month's market action index of 82. Inventory has increased to 71. 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 over time and prices plateaued for a while. Despite the consistent decrease in MAI, 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 $725,000
Median Price of New Listings $739,000
Per Square Foot $317
Average Days on Market 25
Median Days on Market 14
Price Decreased 41%
Price Increased 1%
Relisted 8%
Inventory 71
Median Rent
Market Action 70
Strong Seller's Market

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
$899,900 3,090 0.25 - 0.5 acre 5 3.5 36 4 5 35
$744,900 2,304 0.25 - 0.5 acre 4 3 52 5 4 21
$677,500 2,380 0.25 - 0.5 acre 4 3 58 2 4 21
$610,000 1,664 0.25 - 0.5 acre 4 2 64 6 3 7