Springfield sales trends in last 10 years

[Bill Hoff]

I attended the annual SPAR community meeting last night, and a segment was dedicated to talking about real estate trends in the neighborhood over the last decade. A local Realtor (Southern Moss Realty) provided the following data (below), which I copied & pasted from a PDF, so forgive formatting issues. Of note, she mentioned that Springfield is often compared to Riverside regarding housing stock, and that the gap closure in median home sale prices was relatively impressive considering Springfield isn't next to a river nor Avondale. Also, this sales price data does not include build-to-order new construction, like the new "modern" house on East 3rd Street which cost quite a bit more than $465k. Thought those points were interesting.

Anyway, for your reading pleasure:


Sales Trends in Springfield Over the Last Ten Years

                            2009.                  2014.              2019.  (YTD Aug)
Under 12k.           12.                       4.                      0
To 20k.                 14.                      16.                     1
To 30k.                 13.                       6.                      1
To 50k.                 13.                       9.                      3
To 75k.                   7.                      13.                     6
To 100k.                 4.                       9.                      8
To 150k.                 6.                      13.                     9
To 170k.                 5.                       5.                      1
To 200k.                 3.                       5.                      7
To 250k.                 3.                       3 (228k top)   10
To 300k.                 1.                       0.                      13
To 350k.                 1 (302k top)     0.                      14
To 400k.                 0.                        0.                       7
Over 400k.             0.                        0.                       1 (465K top)
Total.                     82.                      83.                     81

Title Status
Foreclosed.          60.                      40.                       2
Short Sale.             5.                        8.                        0
Seller Owned.      17(7 builder)      35(no builder)  79(9 builder)

Median Price.        35k.                   71k.                    230k

Comparison to Riverside

Median Price.       106k.                  165k.                  280k

[Ken_FSU]

Interesting!

The 2009 to 2014 numbers aren't super impressive, but 2014 to 2019 growth is pretty wild.

If you look at the Springfield median sale price versus the city average, Springfield homes have gone from selling at 23% of the average price to 95%, in just one decade.

Here's your data above thrown into some charts:

[MusicMan]

Would like to see price per square foot............ IMO that tells you more than selling price alone.  However the neighborhood continues to make strides.