South Springfield Housing Market Data

There was an increase in total units sold in April, with 29 sold this month in South Springfield Real Estate versus 26 last month, an increase of 12%. This month's total units sold was lower than at this time last year, a decrease of 15% versus April 2011.

Versus last year, the total number of homes available this month is lower by 20 units or 23%. The total number of active inventory this April was 67 compared to 87 in April 2011. This month's total of 67 is lower than the previous month's total supply of available inventory of 81, a decrease of 17%.

Due to the relatively small number of units sold, the median sale price showed significant change this month. Last April, the median sale price for South Springfield Homes was $398,500. This April, the median sale price was $445,000, an increase of $46,500 compared to last year. The current median sold price is higher than in March.

In April, there was 2.3 months of supply available in South Springfield, compared to 2.6 in April 2011. That is a decrease of 10% versus a year ago.

This month there were 53 homes newly listed for sale in South Springfield compared to 66 in April 2011, a decrease of 20%. There were 57 current contracts pending sale this April compared to 52 a year ago. The number of current contracts is 10% higher than last April.

In April, the average sale price in South Springfield was 98.6% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 24, lower than the average last year, which was 37, a decrease of 35%.




Focus On: South Springfield Housing Market			April 2012
Zip Code(s): 22153
Units Sold 29	Active Inventory 67	Median Sale Price $445,000	Days On Market 24

Down -15% Vs. Year Ago	Down -23% Vs. Year Ago	Up Vs. Year Ago	Down -35% Vs. Year Ago

		Units Sold There was an increase in total units sold in April, with 29 sold this month in South Springfield Real Estate versus 26 last month, an increase of 12%. This month's total units sold was lower than at this time last year, a decrease of 15% versus April 2011.
Active Inventory Versus last year, the total number of homes available this month is lower by 20 units or 23%. The total number of active inventory this April was 67 compared to 87 in April 2011. This month's total of 67 is lower than the previous month's total supply of available inventory of 81, a decrease of 17%.
		Median Sale Price Due to the relatively small number of units sold, the median sale price showed significant change this month. Last April, the median sale price for South Springfield Homes was $398,500. This April, the median sale price was $445,000, an increase of $46,500 compared to last year. The current median sold price is higher than in March. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 53	Current Contracts 57	Sold Vs. List Price 98.6%	Months of Supply 2.3

Down -20% Vs. Year Ago	Up 10% Vs. Year Ago	No Change Vs. Year Ago	Down -10% Vs. Year Ago

		Months of Supply In April, there was 2.3 months of supply available in South Springfield, compared to 2.6 in April 2011. That is a decrease of 10% versus a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.
New Listings & Current Contracts This month there were 53 homes newly listed for sale in South Springfield compared to 66 in April 2011, a decrease of 20%. There were 57 current contracts pending sale this April compared to 52 a year ago. The number of current contracts is 10% higher than last April.
		Sale Price to List Price Ratio In April, the average sale price in South Springfield was 98.6% of the average list price, which is similar compared to a year ago. Days on Market This month, the average number of days on market was 24, lower than the average last year, which was 37, a decrease of 35%.



South Springfield are defined as properties listed in zip code/s 22153.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
Information included in this report is based on data supplied by MRIS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of MRIS or Long & Foster Real Estate, Inc.