Inventory in Walnut Street has been expanding in this rolling three-month view, with active listings up nearly 90% from a year ago. New listings have dipped slightly year over year, but they are still higher than earlier this spring, helping keep options on the market. Pending sales have climbed sharply compared with last year, signaling that more homes are moving into contract even as choices widen.
Pricing has been adjusting alongside this stronger contract flow. The typical home value is up more than 25% from a year earlier, and the median list price has grown even faster year over year, despite a recent pullback from the prior three-month period. Compared with the broader Springfield market, Walnut Street’s prices are higher and have risen while the city’s median sale price has stayed essentially flat.
Days on market have lengthened dramatically on a year-over-year basis, with the current median at about six months, which is much slower than the quick sales seen in past years. Even with that slowdown, months of supply around five and a half still lines up with the area’s seller-leaning market gauge. No recent sales have closed above list price, suggesting buyers have more room to negotiate even as values trend upward. Whether buyers are trying to navigate these mixed signals or sellers are aiming to price correctly, Agent Pronto can connect them with a Walnut Street agent who understands these conditions.
