Springfield MA Real Estate Market Trends & Home Values

Springfield

Springfield, MA Home Values & Market Trends

Real estate market trends reflect that there have been 1,755 transactions over the past year in Springfield. The median value for residential home transactions that occurred over the previous year is $284,444. The number of current listings in Springfield is 25, and the percentage of properties for sale in the city is 25.00%. Springfield, MA currently has 210 properties in foreclosure, 9 bank owned properties, 33 properties headed for auction, and 25 properties for sale.

Springfield, MA Real Estate Market Overview

Zip	Median Est. Value	Zip	Median Est. Value
01109	$ 242,400 $ 151/sqft	01108	$ 306,891 $ 198/sqft
01118	$ 301,242 $ 242/sqft	01107	$ 300,524 $ 142/sqft
01104	$ 295,058 $ 258/sqft	01128	$ 259,576 $ 253/sqft
01119	$ 334,331 $ 207/sqft	01105	$ 204,261 $ 66/sqft
01129	$ 302,736 $ 202/sqft	01144	$ -- $ --
01103	$ 153,479 $ 146/sqft

Housing Market Summary for Springfield, MA

	Dec 2023	November 2024	Change
Median Listing Price	$239.9K	$209K	-12.88%
Median Sold Price	$265.2K	$291.9K	10.08%
Homes For Sale	40	25	-37.50%
Homes Sold	938	941	0.32%

Price

$/Sqft

Homes For Sale

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Price Per Square Foot

On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.

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Recently Sold Homes

Explore recent offers and recently sold homes in Springfield, MA

Recently Sold

$415,000

Sold Price

4 beds

3 baths

2,016 sqft

5,001 sqft lot

33 Brooks St, Springfield, MA 01109

Recently Sold

$450,208

Sold Price

4 beds

3 baths

2,016 sqft

5,001 sqft lot

23 Brooks St, Springfield, MA 01109

Recently Sold

$328,900

Sold Price

3 beds

3 baths

1,900 sqft

10,001 sqft lot

23 Brandon Ave, Springfield, MA 01119

Browse Homes in Springfield, MA

Springfield home values range from $20,186 to $2,113,477. The median estimated value of a home in Springfield is $284,444. The median list price of a home is 209,000, and the total count of properties in the city is 1,359.

Foreclosure

There are 11 zips within Springfield, MA; within these zips, the median estimated home value for homes in foreclosure ranges from $476,826 in 01109 to the lowest value of $76,853 in 01109. Foreclosure homes account for 15.00% of properties in Springfield, MA with 01109 containing 53 foreclosures, the highest number of foreclosure properties in a single zip.

Pre-Foreclosure
Pre-foreclosure homes account for 12.36% of all residential properties in Springfield, MA with 01109 containing 36 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There are 11 zips within Springfield, MA; of those zips, the estimated home value for pre-foreclosure homes ranges from $397,210 in 01107 to the lowest home value of $169,843 in 01109.
Bank Owned
The median estimated home value of bank owned homes (REO properties) in Springfield, MA ranges from the highest value of $319,200 in 01128 to the lowest value of $76,853 in 01109. Bank owned homes and properties account for 0.66% of properties in Springfield, MA. There are 11 zips within Springfield, MA; 01109 containing 5 REO properties, has the highest number of bank owned properties in a single zip.
Auctions
01109 has 12 auction properties, the highest number of properties going to auction in a single zip in the state of Springfield, MA. Auction homes and other auction properties account for 2.43% of all properties in Springfield, MA. There are 11 zips within Springfield, MA; of those zips, the median estimated home value for homes going to auction ranges from $357,348 in 01129 to the lowest value of $175,000 in 01129.

Homes for Sale

Homes and properties that are actively listed for sale account for 1.84% of residential properties in Springfield, MA with 01109 containing 5 homes for sale, the highest number of listed properties in a single zip. There are 11 zips within Springfield, MA; homes for sale in those zips, have a range of median values from $363,967 in 01119 to the lowest value of $76,957 in 01103.

Sold Homes

The median value for recently sold homes ranges from $481,278 in 01118 to the lowest price of $20,186 in 01118. There are 11 zips within Springfield, MA. 01109 has 187 recently sold homes, the highest number of recently sold properties in a single zip. Recently sold homes and properties account for 67.26% of properties in Springfield, MA.

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