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SPRINGFIELD, IL 62703

Real Estate Market Report  ·  Sangamon County
Seller's Market
January 2026  ·  Source: Realtor.com

Market Overview

Active Listings
42
⇩ 35.4% vs 65 last year
Pending
17
40% pending ratio
Median Price
$84,900
⇩ 6.6% vs $90,925 last year
Average Price
$99,743
⇩ 8.7% vs $109,247 last year
Days on Market
58
⇩ 6.5% vs 62 days last year

Market Context

Population: 28,809  ·  Density: 745.6/mi²  ·  Median household income: $43,760

Typical home value: $94,473  ·  Homeownership: 55.0%

Market Analysis

Data as of January 2026. Source: Realtor.com.

The SPRINGFIELD, IL real estate market (62703) currently shows 42 active listings, with 17 pending sales. Homes are averaging 58 days on the market before going under contract.

Inventory has tightened compared to last year, with 23 fewer active listings — creating more competition among buyers.

Homes are selling faster, averaging 58 days on market compared to 62 days last year.

The median listing price has fallen 6.6% year-over-year, from $90,925 to $84,900.

Whether you are buying or selling in SPRINGFIELD, IL, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 42 this year vs 65 last year
  • Days on market: 58 now vs 62 last year

Median & Average Pricing

Year over Year
  • Median: $84,900 (-6.6% YoY)
  • Average: $99,743 (-8.7% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 15.8 miles — 227 listings ($60,207,498 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
62703Springfield, IL 627030.0 mi42$4,189,206$84,900$99,743
62704Springfield, IL 627043.0 mi88$17,389,856$164,900$197,612
62711Springfield, IL 627115.4 mi35$18,367,860$421,000$524,796
62629Chatham, IL 626297.5 mi27$10,840,635$369,000$401,505
62561Riverton, IL 625619.9 mi6$1,439,700$240,000$239,950
62625Cantrall, IL 6262510.5 mi2$438,000$219,000$219,000
62558Pawnee, IL 6255812.9 mi3$616,950$213,900$205,650
62661Loami, IL 6266113.0 mi2$299,800$149,900$149,900
62530Divernon, IL 6253013.9 mi6$914,700$152,450$152,450
62677Pleasant Plains, IL 6267714.4 mi6$3,247,350$259,450$541,225
62531Edinburg, IL 6253115.2 mi2$179,800$89,900$89,900
62517Bulpitt, IL 6251715.7 mi1$60,000$60,000$60,000
62613Athens, IL 6261315.8 mi7$2,223,641$127,450$317,663

Frequently Asked Questions

How many homes are for sale in SPRINGFIELD, IL 62703?

As of January 2026, there are 42 active listings in SPRINGFIELD, IL (zip code 62703), compared to 65 the prior year.

What is the median home price in SPRINGFIELD, IL 62703?

The median listing price in SPRINGFIELD, IL 62703 is $84,900 as of January 2026, a 6.6% decrease from $90,925 the prior year.

How long do homes stay on the market in SPRINGFIELD, IL?

Homes in SPRINGFIELD, IL 62703 spend an average of 58 days on the market before going under contract, compared to 62 days the prior year.

Is it a seller's or buyer's market in SPRINGFIELD, IL 62703?

Based on current inventory and days-on-market data as of January 2026, SPRINGFIELD, IL 62703 is currently a Seller's Market. Inventory has tightened compared to last year, with 23 fewer active listings — creating more competition among buyers. Homes are selling faster, averaging 58 days on market compared to 62 days last year.

How much can I save on real estate commission in SPRINGFIELD, IL?

With SELL123.com's maximum 3% commission, sellers in SPRINGFIELD, IL 62703 save an estimated $1,698 compared to a typical 5% commission on the median listing price of $84,900. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.