$55,000
3413 E Carpenter St
Springfield, IL
3 bd2 ba1,908 sqft$29/ft²
House
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Sarah Mitchell
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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
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5.0 · 47 reviews
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Springfield, IL Housing Market & Real Estate
Strong seller's market+4.5% YoY
Housing market overview · Updated monthly ·
$195,000median sale price
How is the Springfield, IL housing market right now?
The median home sale price in Springfield, IL is $195,000, up 4.5% year-over-year. Homes sell in an average of 5 days with 143 active listings. The market is currently a strong seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Springfield a buyer's or seller's market?
Strong seller's market1.1 months of supply5 avg. days on market
Springfield, IL is currently a strong seller's market, based on 1.1 months of supply and homes selling in about 5 days. How we determine this →
Homes sold
133
Last 12 weeks
Days on market
5
Fast-moving
Active listings
143
1.1 months supply
Sale-to-list
101.2%
Above asking
What does the Springfield housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $195,000 |
| Median list price | $204,900 |
| Year-over-year price change | +4.5% |
| Average days on market | 5 days |
| Active inventory | 143 listings |
| Months of supply | 1.1 months |
| Sale-to-list price ratio | 101.2% |
| Median price per sq ft | $116/sq ft |
| Homes sold (latest month) | 133 |
| New listings (latest month) | 193 |
| Listings with a price cut | 30.1% |
| Market condition | Strong seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Springfield by property type?
How the Springfield, IL market breaks down across single-family homes, condos, and townhouses.
| 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 |
Source: Redfin · Updated monthly
The Springfield housing market is currently classified as a strong seller's market with a median sale price of $195,000. Prices have risen 4.5% compared to last year, with homes spending an average of 5 days on market, indicating 1.1 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 2.6x provides context for how home values compare to local earning capacity.
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
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$114,900
958 N 2nd St
Springfield, IL
3 bd1 ba1,312 sqft$88/ft²
House
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$159,900
108 Glen Aire Dr
Springfield, IL
3 bd2 ba1,317 sqft$121/ft²
House
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$178,000
10 Andover Dr
Springfield, IL
4 bd3 ba2,436 sqft$73/ft²
House
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$179,900
3100 S 5th St
Springfield, IL
4 bd2 ba1,389 sqft$130/ft²
House
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$245,000
1817 S Whittier Ave
Springfield, IL
4 bd2 ba1,852 sqft$132/ft²
House
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$250,000
2900 W Lawrence Ave
Springfield, IL
3 bd2 ba2,189 sqft$114/ft²
House18,731 sqft lot
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$265,000
3424 Bluff Rd
Springfield, IL
3 bd3 ba2,234 sqft$119/ft²
House13,939 sqft lot
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$445,500
4800 Longfellow Dr
Springfield, IL
3 bd3 ba3,481 sqft$128/ft²
House11,761 sqft lot
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$499,900
7528 Wentworth Dr
Springfield, IL
3 bd3 ba3,332 sqft$150/ft²
House
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$545,900
2505 Centennial Dr
Springfield, IL
4 bd4 ba4,305 sqft$127/ft²
House
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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%
Who lives in Springfield?
Population
113,714
Median income
$65,537/yr
Median age
40.7 years
Owner-occupied
63.4%
College grads
35.1%
Avg commute
17.7 min
Source: U.S. Census Bureau ACS
What are homes worth in Springfield?
Zillow home value
$173,202
Zillow rent index
$1,176/mo
Price-to-rent ratio
12.3x
Price-to-income
2.6x
Source: Zillow Research
What is it like to live in Springfield?
Springfield is a community of approximately 114K residents with a median age of 40.7 years.The median household income is $65,537, which represents a working-class community with solid middle-income opportunities. 35.1% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 63.4%, showing a blend of owner and renter-occupied properties. The average commute time is 17.7 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Springfield offers a balanced lifestyle with accessible home values relative to local income levels.
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?
Want a head-to-head view? Compare Springfield side-by-side with any other U.S. city using our market-comparison tool.
Is Springfield a good real estate investment market?
For investors evaluating Springfield, the price-to-rent ratio of 12.3x suggests potential rental yield opportunity, making the market attractive for income-focused investors. The market has appreciated 4.5% year-over-year, reflecting ongoing demand and value growth.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Springfield's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Springfield's median home price.
Frequently asked questions
What is the average home price in Springfield?
The median home sale price in Springfield is $195,000, up 4.5% from last year.
How long do homes stay on market in Springfield?
Homes typically spend 5 days on market before going under contract.
What is the median income in Springfield?
The median household income is $65,537 per year.
Is Springfield a buyer's or seller's market?
With 1.1 months of supply, Springfield is currently a strong seller's market.
How many homes are for sale in Springfield?
There are currently 143 homes listed for sale in Springfield, IL.
What is the Zillow home value estimate for Springfield?
The Zillow Home Value Index (ZHVI) for Springfield is $173,202, representing the typical home value in the area.
What is the median condo price in Springfield?
The median condo/co-op sale price in Springfield, IL is $82,450, compared to $199,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Springfield?
The median single-family home price in Springfield, IL is $199,000 (about $118 per square foot).
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