- Homes currently for sale: 24
- Closed sales for homes in September 2013: 11
- Average sale price: $388,909
- Average list price: $401,766
- Sales price to list price ratio: 96.8%
- Average days on the market: 33
- Number of sales currently pending: 23
- Springfield 22150 Absorption rate for homes: 2.18 months of inventory. A normal, or balanced absorption rate is 5-7 months of inventory. Less than 5 months of inventory is indicative of a seller’s market, while more than 7 months of inventory is indicative of a buyer’s market.
Currently Listed Springfield Single Family Homes for Sale
This Springfield home market report takes a look at detached, single family home sales (not sales of townhomes or condominiums) in Springfield, VA 22150. This zip code in Springfield is currently in a seller’s market, as you can see from the low inventory, which is 2.18 months as of today, November 8th. The average number of days on the market for Springfield homes in this area was 33 in September, which was slightly less than the average over the past five years in September, which was 38. A lower average number of days on the market can often reflect higher demand, but it can also be caused by home sellers pricing their homes more competitively.
Another important home market indicator is the contract ratio, which is the number of pending home sales compared to the number of active listings not yet under contract. The contract ratio for home sales in Woodbridge, 22150 was 0.62 in September. This represented virtually no change from August of this year and a decrease from September of 2012, when the contract ratio was 1.03. September’s contract ratio was 52% lower than the average contract ratio over the past five years in September, which was 1.30. Generally speaking, a higher contract ratio points to market movement toward sellers, while a lower contract ratio points to market movement toward buyers.
Home sellers in Springfield, 22150 are still in a position to benefit from the low level of inventory. If you’d like to learn more about what your Springfield home is worth, call me on my cell phone at 703-462-0700 to request a free comparative market analysis.
If you’re in the market to buy a home in Springfield, contact me so I can go to work for you and get you the best deal possible. I’m an experienced buyer agent who grew up in Northern Virginia and knows the Springfield home market very well.