Springfield homeowners here is your July 2024 market update in less than 60 seconds.

Springfield's hot streak continues as it is up an amazing 7.7% compared to last year.

This month, we had 99 closed sales, a decrease from the 5-year June average of 141, a slowdown we can attribute to continuously low inventory. With still less than a month of supply, Springfield remains a strong seller's market.

The average sold price is $736,165, an increase of 3.2% year-over-year.

With a shortage of homes, the days on the market remain low with a median of 5 days and condos sell even faster with only 3 days on the market, the best month for condos in terms of speed since March 2023.

The zip code 22153 is the standout performer this month with over 14% increase, bringing the median sold price to $850,000.

These statistics reflect a dynamic and competitive market in Springfield, VA.

If you’re looking to sell a home in Springfield, scan the QR code, or call me directly at 202-812-9933

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