Altos Market Data for Realtors
Springfield, VA
Single-Family Homes
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Springfield, VA
Sun Feb 23 2020
This week the median list price for Springfield, VA is $752,450 with the market action index hovering around 71. This is an increase over last month's market action index of 62. Inventory has held steady at or around 18.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market has been strong for several consecutive weeks. Reflecting these inventory conditions, with the MAI in the Seller’s zone, it is not surprising that prices have recently resumed their climb.
Real-Time Market Profile
| Median List Price | $752,450 | |
| Per Square Foot | $231 | |
| Days on Market | 60 | |
| Price Decreased | 44% | |
| Price Increased | 0% | |
| Relisted | 11% | |
| Inventory | 18 | |
| Median Rent | $2,500 | |
| Most Expensive | $1,550,000 | |
| Least Expensive | $450,000 | |
| Market Action | 71 | |
| Strong Seller's Market | ||
Price trends continued their recent uptrend this week. While still below the market’s high point, we may be seeing the start of a good price stretch here.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,136,950 | 6,375 | 0.5 - 1 acre | 5 | 5 | 10 | 1 | 1 | 103 |
| $874,450 | 5,335 | 0.25 - 0.5 acre | 5 | 5 | 16 | 0 | 2 | 99 |
| $629,900 | 2,551 | 0.25 - 0.5 acre | 5 | 3 | 52 | 4 | 4 | 29 |
| $549,990 | 1,644 | 0.25 - 0.5 acre | 4 | 2 | 63 | 2 | 5 | 22 |