Springfield MA MultiFamily March Market Update

[Ian Hogan]

Springfield remains a very active market. Listing inventory looks to have a trend that is counter to most other markets in Massachusetts; usually inventory increases in the Summer and lessens in the Winter! Market Supply in 2024 remains high compared to the previous years, despite decent sales numbers, which can indicate a fluctuating amount of buyer activity. The Sale Price vs List Price in Springfield is some of the highest in Massachusetts, but looks to have possibly been influenced by the low sales in January and has quickly come down below 1%. If this returns to similar numbers to 2023 the market will likely be highly competitive on price.