Home Values

97478 Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$188,500

  • 5.6% 1-year change
  • 3.5% 1-year forecast

The median home value in 97478 is $188,500. 97478 home values have gone up 5.6% over the past year and Zillow predicts they will rise 3.5% within the next year. The median list price per square foot in 97478 is $139, which is lower than the Springfield average of $139. The median price of homes currently listed in 97478 is $199,000 while the median price of homes that sold is $168,570. The median rent price in 97478 is $725, which is the same as the Springfield median of $725.

Foreclosures will be a factor impacting home values in the next several years. In 97478 7.1 homes are foreclosed (per 10,000). This is greater than the Springfield value of 6.2 and also greater than the national value of 3.9

With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of 97478 homeowners underwater on their mortgage is 17.4%, which is lower than Springfield at 19.6%.

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Relative ZHVI
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97478 Market Overview

Data through Feb 28, 2015
  • $188,500 ZHVI
  • 3.5% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Feb 29, 2016)
  • $199,000 Median listing price
  • $168,570 Median sale price
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97478 Market Health

Data through Feb 28, 2015
  • 2.3/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 17.4% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • No data Delinquent on mortgage (6.3% US Avg)

Homes foreclosed (per 10,000)

7.1 homes 97478
6.2 homes Springfield
3.9 homes United States
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Nearby Zip Codes

Name Median ZHVI
97403 $327,500
97408 $274,000
97401 $247,900
Name Median ZHVI
97426 $196,600
97404 $196,500
97477 $167,300
Name Median ZHVI
97446 $166,800
97327 $152,300
97386 $127,100

Listings & Sales

Data through Feb 28, 2015
  • $139 Median list price / sq ft
  • $134 Median sale price / sq ft
  • 13.8% Listings with price cut
18.8%
Sold below listing
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97478 Rentals

Data through Feb 28, 2015
  • Zillow Rent Index

  • $1,160 97478
    $1,147 Springfield
    $1,355 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 2.5 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $725 Rent list price
  • $0.73 Rent list price / sq ft
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