Spring Northeast Housing Market
Updated Feb 3, 2023
What does this mean for you?
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Spring Northeast homes have a median sale price of $276,500 and typically sell within 26 days. This is a price increase of 5.5%, and a decrease of 3 days in the length of time it takes to sell a home compared to a year ago.
In January, the number of sales were down 69%. Looking ahead, pending sales have decreased 58% and there are 600% more price reductions compared to last year.
Pending sales are the #1 indicator of future closings.
Days on market is the #1 indicator of future price reductions.
Price reductions are the #1 indicator of future sales prices.
Current Real Estate Data
Sources & Methodology
Data from the HAR MLS for purchases of single-family homes and townhomes over $125,000 from the respective Geo Market area.
The average days on market is calculated using the average of the trailing 4 weeks of data from the Days on Market graph.
The median sale price is from the most recent month on the Home Prices - Monthly graph, comparing the value to the same month one year ago.
The number of homes sold is from the most recent month on the Home Sales - Monthly graph, comparing the value to the same month one year ago.
Pending sales values are calculated by summing the number of new “Pending” listings from the trailing four weeks for the past two years and then expressing the differences in a percentage value.
Number of properties with price reductions are calculated by summing the number of new properties with a price change and comparing it with same time periods over the last two years.
Pending Sales graph displays the weekly count of new “Pending” listings in the HAR MLS. It does not include “Option Pending” or “Pending Continuing To Show” status fields so contracts are not double or triple counted.
The Days on Market graph displays the average of the Cumulative Days on Market field for sold properties from the HAR MLS field for the past 13 weeks, as compared to the same data over the past three years.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
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