Springfield New Jersey Real Estate Trends: August 2025 Market Report and Lifestyle Guide

The Springfield market remains resilient, with prices continuing to climb even as the number of closed sales has declined compared with last year. The median sales price year to date is up 7.25% compared with 2024, now at $716,363. Homes are averaging 22 days on market, slightly faster than last year, while the number of homes sold year to date has dipped 15.6%. Despite fewer transactions, sellers are still achieving strong results, with many closings above asking price.

Local Market Snapshot August 2025

Median Listing Price: $633,129
Median Sold Price: $649,878 (up 7.25% YoY)
Sale Price to List Price Ratio: 102.42% (YTD average 106.35%)
Homes Sold: 17 in August | 92 YTD (down 15.6% YoY)
Average Days on Market: 37 in August (YTD average 22, faster than 2024)
Inventory Level: 17 active listings (flat YoY)

Price Ranges in Summit August 2025

Under $500K
Condos and smaller homes continue to attract steady demand. Example: 93A Troy Drive sold 9.4% over asking in just 10 days

$500K–$700K
One of the most active ranges, with several homes trading above asking. Example: 81 Mapes Avenue listed at $599K and closed 8.5% over ask at $650K

$700K–$900K
Competitive but with some variability. Example: 29 Cottage Lane sold 3.25% over ask in 18 days, while 35 Tooker Place closed slightly under list at $727K

$900K–$1M
Higher-end properties are still drawing strong results. Example: 52 Hawthorne Avenue sold 5.4% over asking at $1M after just 19 days

What is Really Happening in the Springfield New Jersey Market

Springfield continues to post steady appreciation, with the median sales price climbing over 7% year over year. The dip in closed sales reflects tighter inventory rather than reduced demand. Homes under $700K are especially competitive, often closing above asking. The upper tiers are showing resilience, with updated and well-located homes still commanding premium prices.

For sellers, correct pricing and presentation remain critical to maximizing results. For buyers, while fewer homes have sold this year, properties that do hit the market are still moving quickly making preparation and decisiveness key.

Buyer and Seller Insights

For Buyers

● Homes under $700K are still moving quickly, often over ask
● Inventory levels remain limited, requiring quick action
● Higher-end homes offer opportunities for negotiation if not updated or turnkey

For Sellers
● Median sales price is up 7.25% YoY
● Strong buyer demand continues to support competitive sales-to-list ratios
● Well-positioned homes are drawing multiple offers, even with fewer overall transactions

Local Market Outlook

As we move into fall, Springfield’s market is expected to remain competitive. Buyers should be prepared to act quickly on desirable listings, especially under $700K. Sellers who align pricing with market conditions can still expect strong results, often above asking, despite a slower pace of overall sales activity compared with last year.

Featured Listings in Springfield New Jersey and Beyond

Explore this month’s standout homes across Springfield and surrounding towns. From charming capes to updated colonials, these listings showcase the variety and appeal of local living.

View Featured Listings

About Springfield, NJ

Springfield is a Union County community founded in 1794 with a name inspired by the springs and brooks that dot the landscape. The town offers a suburban lifestyle with plenty of recreation including parks, youth sports, a community pool, and a strong sense of neighborhood. For commuting, residents can take the 114 bus to New York City or a jitney service connecting to the Short Hills train station. Whether it is a starter home or something more custom, Springfield draws people who want good access, a welcoming community, and a balance between amenities and a quieter pace.

FAQs on Springfield NJ

Q: Are home prices still rising in Springfield NJ?
A: Yes, the median sales price is up 7.25% year over year

Q: Is it a buyer’s or seller’s market?
A: Sellers continue to benefit from strong demand and elevated pricing, though buyers have more leverage at the higher end of the market.

Q: What types of homes are selling fastest?
A:  Homes under $700K, especially updated capes, colonials, and ranches, are closing quickly and often over asking.

Q: How long are homes taking to sell?
A: The YTD average is just 22 days, slightly faster than last year

Q: Should I list now or wait?
A: Listing now allows sellers to capture strong pricing in a competitive environment.

Q: Do luxury homes above $1M sell quickly?
A: Many do — for example, 52 Hawthorne Avenue closed 5.4% over asking at $1M in under three weeks

Are You Ready to Make a Move

Whether you’re preparing to sell a Springfield property, searching for your next home, or planning a move to one of New Jersey’s most desirable towns, The Saritte Harel Team is your trusted partner. Ranked among the Top 5 Realtors in New Jersey and the Top 1.5% nationwide, our team brings the strategy and expertise that deliver results.

Connect with us today to discuss your goals and learn how we can help you succeed in the Springfield market.

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