Springfield’s home seller’s continue to see gains in the local housing market. May continues the upward trend of 2016 over 2015, the 5th straight month this year showing positive sales gains over 2015. Home sales continue to out perform last year’s sales numbers according to the Greater Springfield Board of Realtors Multiple Listing Service. The number of sold homes for May 2016 is up over a whopping 21% compared to May 2015. The average Days on Market continues to drop and is down to 76 days, that’s a 10.6% drop over May 2015.
These big gains coupled with the continued rise in sales prices is great news for Springfield’s home sellers. The continued sellers market has created a shortage of inventory in some parts of the city. If you have thought about selling your home, now might be the perfect time to do so.
The number of total number of active listings in the month of May is down 4.9% over May of 2015, and the number of houses currently under contract is up a 13.5%. With total listings down and the number of houses under contract up, these are good signs for a strong housing market. I expect these trends to continue for the remainder of the year.
Year to Date Sales Stats
The year to date stats shown above, illustrate how strong the Springfield housing market has become. The number of sold listings year to date is up by an additional 198 homes. More home sales with shorter days on market indicate a strong housing market. With the days on market dropping and the number of homes selling on the rise, this is welcome news for anyone thinking of selling their home.
What Does This Mean for You?
With prices up and homes selling faster, this could be a great time to sell your home. Click HERE to get a free no hassle home valuation. Even if you are not looking to sell your home and are just curious, this is great information to have.
Thinking of Buying A New Home?
It is still a great time to buy a new home with interest rates still down. Prices in the Springfield market are on the rise, so now is the time to upgrade to the home of your dreams. There are a lot of great loan programs designed to help you afford the home you have always wanted.
To find your new home visit NEW HOME
As always, if you have any specific questions about the market or if you need help buying and/or selling real estate in the Springfield area, let me know. I would love to hear from you.
Brice@BriceDavis.com or 417-693-3254
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