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SPRINGFIELD, IL 62703

Real Estate Market Report  ·  Sangamon County
Buyer's Market
September 2026  ·  Source: Realtor.com

Market Analysis

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

The SPRINGFIELD, IL real estate market (62703) currently shows 87 active listings, with 42 pending sales. Homes are averaging 48 days on the market before going under contract.

Inventory has increased compared to last year, with 21 more homes available — giving buyers more choice.

Homes are taking longer to sell, averaging 48 days on market compared to 25 days last year.

The median listing price has fallen 5% year-over-year, from $86,850 to $82,475.

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Market Context

Market Context

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

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

Market Overview

Active Listings
87
⇧ 31.8% vs 66 last year
Pending
42
48% pending ratio
Median Price
$82,475
⇩ 5% vs $86,850 last year
Average Price
$105,906
⇧ 0.4% vs $105,506 last year
Days on Market
48
⇧ 92% vs 25 days last year

Price Per Square Foot

Median $/sqft
$81
⇧ 9.5% vs $74/sqft last year
Median Home Size
1,172 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 87 this year vs 66 last year
  • Days on market: 48 now vs 25 last year

Median & Average Pricing

Year over Year
  • Median: $82,475 (-5% YoY)
  • Average: $105,906 (+0.4% 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
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 20.0 miles — 207 listings ($55,145,714 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
62703Springfield, IL 627030.0 mi43$4,157,670$87,450$96,690
62704Springfield, IL 627043.0 mi82$16,600,080$148,425$202,440
62711Springfield, IL 627115.4 mi33$16,043,214$436,925$486,158
62629Chatham, IL 626297.5 mi25$11,234,625$452,900$449,385
62536Glenarm, IL 625369.2 mi0$0$660,000$660,000
62625Cantrall, IL 6262510.5 mi3$2,220,000$740,000$740,000
62558Pawnee, IL 6255812.9 mi3$599,700$199,900$199,900
62661Loami, IL 6266113.0 mi3$449,700$149,900$149,900
62530Divernon, IL 6253013.9 mi3$449,901$152,450$149,967
62677Pleasant Plains, IL 6267714.4 mi5$2,416,525$381,175$483,305
62531Edinburg, IL 6253115.2 mi3$354,699$119,900$118,233
62540Kincaid, IL 6254016.7 mi3$494,700$164,900$164,900
62634Elkhart, IL 6263420.0 mi1$124,900$124,900$124,900

Frequently Asked Questions

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

As of September 2026, there are 87 active listings in SPRINGFIELD, IL (zip code 62703), compared to 66 the prior year.

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

The median listing price in SPRINGFIELD, IL 62703 is $82,475 as of September 2026, a 5% decrease from $86,850 the prior year.

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

Homes in SPRINGFIELD, IL 62703 spend an average of 48 days on the market before going under contract, compared to 25 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 September 2026, SPRINGFIELD, IL 62703 is currently a Buyer's Market. Inventory has increased compared to last year, with 21 more homes available — giving buyers more choice. Homes are taking longer to sell, averaging 48 days on market compared to 25 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 $1,650 compared to a typical 5% commission on the median listing price of $82,475. 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.