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Springfield VA (22152) Market Update: January 2016

Real Estate Agent with Browning Homes Group

January 16, 2016 10:20 AM

Home Prices in Springfield (22152) VA for January 2016

Real estate market insider data for Springfield, VA provided by Browning Homes Group.

Springfield (22152) Home Prices

We have seen steady sold price increases on home prices in Springfield and they should continue to increase as the Spring market gets into full swing. If you are thinking of buying a home in 2016, there are good deals to be found in Springfield, but the key is making sure you have a team of professionals who know the area and understand the market. Another thing to remember is that more buyers will be entering the home buying market soon, which means more competition for you. As you can see in the graph below, homes are now starting to sell at or even above listing price. This makes having an agent who has their pulse on the market even more important so that you can buy the home of your dreams for the best price in the least amount of time.

You can see the current inventory on the market in Springfield (22152) by clicking on the link. Typically, the higher the inventory, the longer the homes are sitting on the market. Right now homes in 22152 have a median time of 71 days on the market, which is significantly lower than the national average. This indicates that buyers have the perfect opportunity to make a strong offer on a home. However, the number of active listings currently on the market has dropped by almost 30% from the previous month. While it isn't expected that home prices will go as high as they were in the peak, low inventory opens the door to multiple offer situations on homes. This makes it a great time for anyone thinking of selling to enter the market, since low inventory is usually indicative of rising prices.

Springfield Real Estate Report Summary

The median list price in January for homes in Springfield (22152) is $441,990. Of the listings currently active on the market, 11.4% are distressed properties (Short Sales/Foreclosures).