Altos Research
Springfield, VA
Single-Family Homes
Market Data for Realtors. Schedule a demo today at altos.re.
Springfield, VA
Sat Sep 22 2018
This week the median list price for Springfield, VA is $550,000 with the market action index hovering around 46. This is about the same as last month's market action index of 46. Inventory has held steady at or around 122.
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
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
Real-Time Market Profile
| Median List Price | $550,000 | |
| Per Square Foot | $273 | |
| Days on Market | 65 | |
| Price Decreased | 51% | |
| Price Increased | 0% | |
| Relisted | 9% | |
| Inventory | 122 | |
| Median House Rent | $2,700 | |
| Most Expensive | $1,299,999 | |
| Least Expensive | $375,000 | |
|
Market Action Index
Strong Seller's Market |
46 |
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 |
|---|---|---|---|---|---|---|---|---|
| $839,000 | 4,500 | 0.25 - 0.5 acre | 5 | 4 | 20 | 2 | 2 | 88 |
| $599,949 | 2,350 | 0.25 - 0.5 acre | 4 | 3 | 41 | 6 | 8 | 49 |
| $529,990 | 1,792 | 0.25 - 0.5 acre | 4 | 3 | 54 | 3 | 5 | 65 |
| $445,000 | 1,404 | 0.25 - 0.5 acre | 3 | 2 | 62 | 3 | 6 | 60 |