Springfield Real Estate Market Report - August, 2013

By
Real Estate Agent with Samsel & Associates 0790808

Springfield, NJ, is located in northern Union County and is home to roughly 15,000 people. New Jersey Monthly magazine ranked Springfield as the 85th best place to live in New Jersey.

All of Springfield's public schools are named for notably Springfield residents. Students in Springfield attend Edward V. Walton Early Childhood Center for grades Pre-K to 2, James Caldwell Elementary School in grades 3-5, Thelma L. Sandmeier Elementery School for grades 6-8 and Jonathan Dayton High School for grades 9-12.  Springfield students also attend Saint James the Apostle School serving grades Pre-K through 8.

 

 

Springfield currently has 6.3 months of inventory. This number tells you how many months it would take for all the current homes for sale on the market to sell, based upon the rate of sales in the past. A Months of Supply of more than 5 months is what real estate professionals often call a "buyer's market." This means that there are more sellers than buyers in the area and homes are selling slower than they are being put on the market. Typically, this decreases prices. 

 

The average list price of homes in Springfield for July was $462,246 and the average sold price was $320,786. This sold price represents nearly 6% lower than June and nearly 22% lower than July of 2012.

 

 

 

 

 

 

 

Homes in Springfield are selling quickly. The average home sold in July was sold after only 49 days on the market. In July of 2012, the average home sold after 74 days on the market, and as recently as April of 2013, the average home sold after 124 days on the market.

 

 

 

 

To see a complete list of all homes offered for sale in Springfield, NJ, please click here.

If you have a home in Springfield that you'd like to sell, contact us for a free comparative market analysis!

 

For more information on Springfield, NJ:

Springfield Real Estate Market Report - April, 2013 - 05/28/13

10 Union County High Schools Make Newsweek’s Short List - 05/08/13

How long will my Union County home be on the market? - 02/24/13 

Springfield, NJ Market Trends - First half of 2012 - 07/20/12

 

 Springfield, NJ Market Trends - 02/28/12

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~ Wayne & Jean 

Union County, NJ - a great place to live and work!

If you're looking to buy or sell a property in Union County, call us at 908-917-4189 or email TeamZuhl@gmail.com.

 

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All opinions, information and data provided is deemed reliable but is subject to errors and omissions. Not intended to solicit other Brokers' clients. We cooperate with them fully. 

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Rainmaker
3,139,568
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Home and Condo Specialists

Nice spotlight on Springfield NJ. Days on the market really shows how the market is improving!

Aug 02, 2013 09:34 PM #1
Rainmaker
5,305,090
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is good information for home buyers and home sellers.

Have a wonderful weekend.

Aug 02, 2013 11:23 PM #2
Rainmaker
698,827
Chris and Dick Dovorany
Homes for Sale in Naples, Bonita Springs and Estero, Florida - Naples, FL
Broker/Associate at Premiere Plus Realty

In reading your report I think I might be missing something.  If there is a 6 month supply of homes then how can they be selling quickly?  Are the homes that are dragging on the market in a certain price range that is not popular at the moment?

Aug 03, 2013 01:03 AM #3
Rainmaker
1,045,687
Fred Carver Personal Real Estate Corporation
RE/MAX Camosun Victoria BC Real Estate - Victoria, BC
Accredited Real Estate Consultant

Hi Wayne and Jean...Great Real Estate Market update for Consumers in Springfield. Interesting to see Average Sale Prices are Falling when List Prices are up...Could it be many of the higher priced listings are out of the reach of Springfield home buyers...Good pricing always sells homes, home buyers are comparative shoppers.

Cheers

Aug 03, 2013 01:38 AM #4
Rainmaker
1,179,529
Adrian Willanger
206 909-7536 AdrianWillanger-broker.com - Seattle, WA
Profit from my two decades of experience

Good morning Wayne and Jean-

The Springfield sales trend looks very similar to the Seattle market trends, the one exception is days on market in our area is a bit less. Very well presented report. 

Aug 03, 2013 01:54 AM #5
Rainmaker
1,277,546
Wayne and Jean Marie Zuhl
Samsel & Associates - Clark, NJ
The Last Names You'll Ever Need in Real Estate

They're selling quickly, Chris and Dick, and eating away at the inventory. You can see how much it's dropped over the past 18 months.

Aug 03, 2013 03:23 AM #6
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Rainmaker
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Wayne and Jean Marie Zuhl

The Last Names You'll Ever Need in Real Estate
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