October's First-Time Homebuyer Report for Springfield

Springfield is older than the rest of Virginia, with a median age of 38. It's very affluent as well, with a median income of $87,822 per household. The Springfield market is mostly made up of detached houses, which currently account for 61% of the homes for sale in the area. Heading the list of top schools in the city is Lee High School.

Culture

If you are interested in some outdoor fun, Foursquare says that Fairfax Sportsplex and Kazaxe are the most popular places in Springfield. You might also try Regal Cinemas Springfield Town Center 12, a popular destination for entertainment. Lastly, Mike's American Grill, Silver Diner, and Chick-fil-A are well-known places to eat.

Price Range

The median value of homes in Springfield is $377,300, making it one of the most valuable areas in Virginia. At the same time, the average list price of available homes is presently $488,690.

Make sure you take a look at these eye-catching homes in Springfield that generated the most views from potential buyers:

$549K   $465K   $565K  

Typical Dwelling

A three-bedroom townhouse valued around $475,150 is considered a typical dwelling in Springfield. If a buyer was looking for a similar home, they would need good credit and a $95,030 cash down payment to get a mortgage with a 3.95% interest rate. The monthly payments would be $2,122 and the property tax rate is $10.67 per $1,000 of taxable assessed value.

Get started right now by checking out Springfield homes for sale or reviewing Springfield real estate trends.


Data reported through 10/13/2016

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