January 2025 Market Update: Strong Start to the Year
Springfield area real estate market shows positive momentum with increased sales and stable pricing
January 2025 Market Update: Strong Start to the Year
The Greater Springfield area real estate market is demonstrating robust activity to begin 2025, with encouraging trends across all three counties served by GSBOR.
Key Market Highlights
Sales Activity
- Total Units Sold: 342 homes (15% increase from January 2024)
- Average Days on Market: 28 days (improvement from 35 days last year)
- Inventory Levels: 2.1 months of supply (balanced market conditions)
Pricing Trends
- Median Sale Price: $185,000 (3.2% increase year-over-year)
- Average Sale Price: $205,500 (2.8% increase year-over-year)
- Price Per Square Foot: $112 (stable from previous year)
County-Specific Performance
Greene County
Greene County continues to lead the market with 198 closed sales, representing a 12% increase from January 2024. The median sale price of $195,000 reflects the county's strong demand and limited inventory.
Christian County
Christian County showed impressive growth with 89 closed sales, marking an 18% increase year-over-year. The area's affordability with a median price of $168,000 continues to attract first-time homebuyers.
Webster County
Webster County maintained steady performance with 55 closed sales and a median price of $175,000, showing the area's consistent appeal to buyers seeking value.
Market Outlook
Several factors are contributing to the positive market conditions:
- Low Interest Rates: Continued favorable lending conditions
- Job Growth: Springfield area employment expansion
- Population Growth: Steady in-migration to the region
- Limited Inventory: Balanced supply and demand
What This Means for REALTORS®
The current market conditions present opportunities for both listing and buyer agents:
- Listing Agents: Strong demand and quick sales times
- Buyer Agents: Competitive market requiring skilled negotiation
- All Agents: Importance of pricing strategy and market knowledge
Resources for Members
GSBOR members can access detailed market statistics and analysis through:
- Monthly market reports in the member portal
- Weekly market updates via email
- Quarterly market webinars
- Market Statistics Page
Looking Ahead
The market research team will continue monitoring key indicators including:
- Interest rate trends
- Employment data
- New construction permits
- Seasonal buying patterns
Stay informed with our regular market updates and analysis. For questions about specific market conditions or to request custom market reports, contact our research team at research@gsbor.com.
Market data compiled from MLS statistics for the Greater Springfield area. For the most current market information, visit our Market Statistics page.