$55,000
3413 E Carpenter St
Springfield, IL
3 bd2 ba1,908 sqft$29/ft²
House
View photos & details
Brokers — List your Company Here
Featured local agent — Springfield, IL
Example placement
Sarah Mitchell
CNESRESABR
Compass Real Estate · Springfield, IL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
Springfield, IL(512) 555-0184TX License #0512847
Visit website →sarahmitchellhomes.com
5.0 · 47 reviews
This spot is open. Be the only brokerage featured on this page — one slot, no auction.
Claim this spot* Example only — dummy agent for illustration. Your logo, name, tagline, link, and lead routing replace this content.
Springfield, IL Housing Market
Strong seller's market+5.3% YoY
Zillow, August 2026 · Refreshes monthlyRedfin, through May 2026 · No longer updatingFreddie Mac via FRED, September 2026 · Refreshes weekly
The typical home in Springfield, IL is worth $172,189, rose 5.3% over the past year (Zillow Home Value Index, August 2026). The last median sale price Redfin published was $195,000, +4.5% year over year (through May 2026). With 1.1 months of supply and homes going under contract in about 5 days, Springfield is a strong seller's market. At today's 7.03% 30-year fixed rate, 20% down on a $172,189 home is about $919/mo in principal and interest.
Key numbers for Springfield, IL
Typical home value
$172,189
+5.3% in 12 months
Zillow, August 2026
Typical asking rent
$1,159/mo
Zillow Observed Rent Index
Zillow, August 2026
Median sale price
$195,000
+4.5% year over year
Redfin, through May 2026
Days on market
5
Fast-moving
Redfin, through May 2026
Active listings
143
1.1 months of supply
Redfin, through May 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$65,537
Home costs 2.6x income
U.S. Census ACS, 2023
Sale-to-list ratio
101.2%
Selling above asking
Redfin, through May 2026
Zillow figures are as of August 2026 and refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Springfield a buyer's or seller's market?
Strong seller's market1.1 months of supply5 days on market101.2% of asking
Springfield, IL is a strong seller's market, based on 1.1 months of supply and homes selling in about 5 days. Under 2 months of supply is a severe shortage: expect competition on almost anything priced correctly, and little room to negotiate below asking.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Springfield housing market data show?
Every row below is Redfin's final published month for Springfield, IL. Redfin, through May 2026
| Metric | Value |
|---|---|
| Median sale price | $195,000 |
| Median list price | $204,900 |
| Year-over-year price change | +4.5% |
| Median price per sq ft | $116/sq ft |
| Median days on market | 5 days |
| Active inventory | 143 listings |
| Months of supply | 1.1 months |
| Sale-to-list price ratio | 101.2% |
| Homes sold (that month) | 133 |
| New listings (that month) | 193 |
| Listings with a price cut | 30.1% |
| Market condition | Strong seller's market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Springfield is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Springfield is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Springfield home prices moved?
Over the last three years the median sale price in Springfield, IL rose 35.2%, from $144,250 to $195,000. The live Zillow value series has rose 5.3% in the last 12 months, which is the more current read now that Redfin's series has stopped. 30.1% of Springfield listings cut their asking price in the final Redfin month — a high share, and the clearest sign that list prices were running ahead of what buyers would pay. For prices to fall meaningfully from here, supply would have to keep building past 1.1 months while the sale-to-list ratio slips below its current 101.2%. Watch those two together — they move before the median does.
Redfin, through May 2026 — the chart ends at Redfin's final published month.
Get Springfield market alerts
Weekly updates on prices, inventory, and trends. Free forever.
What does it cost to buy a home in Springfield?
Priced off the typical home value of $172,189 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $34,438 | $137,751 | $919/mo |
| 5% | $8,609 | $163,580 | $1,092/mo |
Zillow, August 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $919, that implies roughly $39,396 a year before you add taxes and insurance. The median household in Springfield earns $65,537, about $26,141 more than that threshold — the typical local household clears the payment on a typical local home with 20% down. That puts the price-to-income ratio at 2.6x — close to the historical 3x norm, which is unusual in 2026.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Springfield in the next 12 months?
Tell us your timeline. We send the Springfield market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Springfield?
Typical asking rent in Springfield, IL is $1,159/mo, against a typical home value of $172,189. That is a price-to-rent ratio of 12.4x, which means buying tends to beat renting on monthly cost over a typical hold. Compared head to head, 20% down puts principal and interest at $919 a month — $240 less than renting before taxes and insurance, so ownership can win on monthly cost alone once you have the down payment.
Zillow, August 2026 for both value and rent
Add your own down payment, tax rate and time horizon in the rent vs. buy calculator.
Is inventory rising or falling in Springfield?
Active listings in Springfield, IL went from 149 in May 2025 to 143 in May 2026, a -4.0% change. Inventory has been roughly flat, which usually keeps prices moving with rates rather than with local supply.
| Month | Active listings | New listings |
|---|---|---|
| June 2025 | 157 | 174 |
| July 2025 | 188 | 168 |
| August 2025 | 187 | 166 |
| September 2025 | 176 | 143 |
| October 2025 | 203 | 167 |
| November 2025 | 171 | 93 |
| December 2025 | 147 | 89 |
| January 2026 | 138 | 88 |
| February 2026 | 106 | 75 |
| March 2026 | 137 | 158 |
| April 2026 | 121 | 145 |
| May 2026 | 143 | 193 |
Redfin, through May 2026
How does Springfield compare to Illinois and the U.S.?
Springfield homes sell for $195,000 — 42% below the Illinois median of $337,900. Against the national median of $410,700, Springfield runs 53% lower. Year-over-year, Springfield moved +4.5% against Illinois's +5.9% — a smaller swing than the state as a whole.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Springfield, IL | $195,000 | +4.5% | 5 days |
| Illinois statewide | $337,900 | +5.9% | 43 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through May 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Springfield
What buyers should watch
- Months of supply, currently 1.1. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The share of listings cutting price, currently 30.1%. A listing that has already cut once is the one most likely to accept below asking.
- The gap between 5% and 20% down here is $172 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $172,189 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Springfield listing goes under contract in 5 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 101.2% of asking. Price at the number you want and let competition do the rest.
- In the last published month Springfield added 193 new listings against 133 sales — more competition arriving than clearing, so early timing matters.
- Your equity moved +5.3% in the last 12 months on the Zillow value series. That, not the price you paid, is what sets your net proceeds.
- Comparable ZIP-level pricing inside Springfield varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Springfield
There are currently 143 homes listed for sale in Springfield, Illinois. The median listing price is $205K. Featured listings range from $55,000 to $545,900.
$86,000
1819 E Watch Ave
Springfield, IL
4 bd2 ba1,956 sqft$44/ft²
House
View photos & details
$114,900
958 N 2nd St
Springfield, IL
3 bd1 ba1,312 sqft$88/ft²
House
View photos & details
$159,900
108 Glen Aire Dr
Springfield, IL
3 bd2 ba1,317 sqft$121/ft²
House
View photos & details
$178,000
10 Andover Dr
Springfield, IL
4 bd3 ba2,436 sqft$73/ft²
House
View photos & details
$179,900
3100 S 5th St
Springfield, IL
4 bd2 ba1,389 sqft$130/ft²
House
View photos & details
$245,000
1817 S Whittier Ave
Springfield, IL
4 bd2 ba1,852 sqft$132/ft²
House
View photos & details
$250,000
2900 W Lawrence Ave
Springfield, IL
3 bd2 ba2,189 sqft$114/ft²
House18,731 sqft lot
View photos & details
$265,000
3424 Bluff Rd
Springfield, IL
3 bd3 ba2,234 sqft$119/ft²
House13,939 sqft lot
View photos & details
$445,500
4800 Longfellow Dr
Springfield, IL
3 bd3 ba3,481 sqft$128/ft²
House11,761 sqft lot
View photos & details
$499,900
7528 Wentworth Dr
Springfield, IL
3 bd3 ba3,332 sqft$150/ft²
House
View photos & details
$545,900
2505 Centennial Dr
Springfield, IL
4 bd4 ba4,305 sqft$127/ft²
House
View photos & details
Looking to buy in Springfield?
Get connected with a local real estate expert — free, no obligation.
Active listings
143
Homes on market
Median list price
$205K
Avg. days on market
5
Days until sale
New this week
193
Newly listed
Price drops:30.1%of listings
Sale-to-list:101.2%
How much do homes cost in Springfield by property type?
How the Springfield, IL market breaks down across single-family homes, condos and townhouses. Redfin, through May 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $199,000 | $118/sq ft | 123 | 5 days |
| Condo / co-op | $82,450 | $85/sq ft | 6 | 7 days |
Who lives in Springfield?
American Community Survey estimates for Springfield. U.S. Census ACS, 2023
Population
113,714
Households
50,803
Median income
$65,537/yr
Median age
40.7 years
Owner-occupied
63.4%
Median home value
$155,200
Median gross rent
$945/mo
Mean commute
17.7 min
63.4% of occupied homes in Springfield are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market. The Census self-reported median home value is $155,200 against Zillow's $172,189 typical value; the gap is normal — ACS asks owners what they think their home is worth, Zillow models transactions. Census median gross rent (all leases, including long-held ones) is $945/mo, below Zillow's $1,159/mo asking rent on new leases — the difference is roughly what a mover pays over a stayer.
Which public schools serve Springfield?
41 schools tracked · 12,920 students
The largest public schools serving Springfield, IL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Springfield High School
Grades 9-12 · 1,446 students
Springfield Southeast High Sch
Grades 9-12 · 1,189 students
Lanphier High School
Grades 9-12 · 1,084 students
Benjamin Franklin Middle School
Grades 6-8 · 705 students
Early Learning Center
Grades PK · 558 students
U S Grant Middle School
Grades 6-8 · 527 students
Washington Middle School
Grades 6-8 · 521 students
Jefferson Middle School
Grades 6-8 · 495 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Springfield, IL?
Ordered by distance from Springfield, not by size. Compare Springfield side by side with any of them.
Springfield housing market FAQ
Is Springfield a buyer's or seller's market?
Springfield, IL is currently a strong seller's market. That read comes from 1.1 months of supply, homes going under contract in about 5 days, and sellers getting 101.2% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in Springfield?
The typical home in Springfield, IL is worth $172,189 (Zillow Home Value Index, August 2026). The median sale price in the last month Redfin published was $195,000, about $116 per square foot.
Is Springfield cheaper than the rest of Illinois?
Springfield's median sale price of $195,000 is 42% lower than the Illinois statewide median of $337,900, and 53% below the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Springfield?
Homes in Springfield, IL spent a median of 5 days on market before going under contract, versus 43 days statewide. Under three weeks means well-priced listings move before most buyers can schedule a second showing. (Redfin, through May 2026.)
What income do you need to buy a home in Springfield?
At the current 30-year fixed rate of 7.03%, 20% down on a $172,189 home is about $919 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $39,396 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $65,537.
Are home prices rising in Springfield?
The typical home value in Springfield, IL rose 5.3% over the last 12 months, from $163,480 to $172,189 (Zillow, August 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in Springfield?
Springfield ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Springfield?
That depends on your timeline, not on a headline. What the data says today: Springfield, IL is a strong seller's market with 1.1 months of supply, the 30-year fixed rate is 7.03%, and the price-to-rent ratio of 12.4x means buying tends to beat renting on monthly cost over a typical hold. Properties Incorporated publishes the data; it does not give financial advice.
Be the brokerage on this page
1 slot per pageGet featured on Springfield, IL
Your logo, brokerage name, and direct link to your site — featured at the top of this page in front of every visitor researching this whole city. One brokerage, no rotation, no bidding war.
- Goes live in 24 hours
- Cancel anytime
- Do-follow backlink to your site
Keep researching Springfield
Nearby markets
Get the Springfield market brief
Get the Springfield, IL market brief
One email: what homes are actually clearing at around $172,189, how long they sit, which ZIPs run cheaper, and what to fix on your credit before you apply.