What is the typical home value in Springfield - MA?

The typical home in Springfield - MA, MA is worth $366,074 as of the most recent Zillow Home Value Index reading. Year over year the value has changed by +2.2%.

How long do homes stay on the market in Springfield - MA?

The median days to pending (time on market before a sale) in Springfield - MA is currently 16 days. Shorter days on market indicate a seller's market; longer days indicate more buyer leverage.

Are sellers cutting prices in Springfield - MA?

14.3% of active listings in Springfield - MA have had a price reduction. This is a signal of softening seller expectations relative to buyer demand.

Is Springfield - MA a buyer's or seller's market?

Based on days-on-market, price-cut share, and year-over-year appreciation, Springfield - MA is currently a balanced market. Buyers should watch days-on-market and price-cut trends monthly.

PicksByProperty

MA · Metro #85

Springfield - MA housing market

Current home values, days on market, and price-cut activity for the Springfield - MA metro. Data refreshed from Zillow Research monthly.

Typical home value

$366,074

+2.2% vs. year ago

Median list price

$362,967

Days on market

16.0d

Listings w/ price cut

14.3%

Context

How to read this data

The typical home value ($366,074) is the Zillow Home Value Index for the Springfield - MA metro area , a smoothed, seasonally adjusted estimate of the typical value for middle-tier homes (33rd to 67th percentile) across single-family and condo properties.

Prices are up 2.2% over the past year. In Springfield - MA, that means a home worth $358,194 last year is now worth roughly $366,074.

Homes listed in Springfield - MA sit on the market for roughly 16.0 days before going pending. Shorter = seller's market; longer = buyer's market.

About 14.3% of current listings have had at least one price cut. High price-cut shares signal sellers are adjusting expectations downward.