Springfield’s housing market outpaced others nationwide and was named August’s hottest market by Realtor.com.
The real estate company’s market heat index analyzes supply and rising demand in 300 metros across the nation using active inventory data, listing views by market and median days on market. Data from August showed Springfield taking the lead once again.
During the month of August, Springfield attracted over three times more viewers per property than the national average. Plus, homes spent a median of just 29 days on the market. The median listing price for Springfield homes sat around $355,000.
According to researchers at Realtor.com, Springfield pulls a significant share of buyers from larger nearby metros like Boston, New York City and Hartford.
“This is the seventh time Springfield has been at the helm,” researchers said. “High demand and low inventory have driven the larger Boston/New England area to the top of the hot markets list over the past few years as views per property and time on the market outpace the rest of the country.”