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SPRINGFIELD, IL 62704

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

Market Analysis

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

The SPRINGFIELD, IL real estate market (62704) currently shows 118 active listings, with 69 pending sales. Homes are averaging 35 days on the market before going under contract.

Inventory has increased compared to last year, with 22 more homes available — giving buyers more choice.

Homes are taking longer to sell, averaging 35 days on market compared to 26 days last year.

The median listing price has risen 3.3% year-over-year, from $188,675 to $194,975.

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 Context

Market Context

Population: 40,495  ·  Density: 1,278.9/mi²  ·  Median household income: $63,120

Typical home value: $156,157  ·  Homeownership: 59.5%

Market Overview

Active Listings
118
⇧ 22.9% vs 96 last year
Pending
69
58% pending ratio
Median Price
$194,975
⇧ 3.3% vs $188,675 last year
Average Price
$267,963
⇧ 6.4% vs $251,903 last year
Days on Market
35
⇧ 34.6% vs 26 days last year

Price Per Square Foot

Median $/sqft
$120
⇧ 12.1% vs $107/sqft last year
Median Home Size
1,831 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 118 this year vs 96 last year
  • Days on market: 35 now vs 26 last year

Median & Average Pricing

Year over Year
  • Median: $194,975 (+3.3% YoY)
  • Average: $267,963 (+6.4% 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 18.9 miles — 210 listings ($47,886,353 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
62704Springfield, IL 627040.0 mi82$16,600,080$148,425$202,440
62703Springfield, IL 627033.0 mi43$4,157,670$87,450$96,690
62712Springfield, IL 627125.7 mi17$7,139,592$388,750$419,976
62629Chatham, IL 626296.8 mi25$11,234,625$452,900$449,385
62536Glenarm, IL 6253610.1 mi0$0$660,000$660,000
62684Sherman, IL 6268410.8 mi15$4,750,380$328,850$316,692
62670New Berlin, IL 6267011.4 mi3$450,975$150,325$150,325
62561Riverton, IL 6256111.5 mi5$1,162,445$230,000$232,489
62530Divernon, IL 6253014.7 mi3$449,901$152,450$149,967
62613Athens, IL 6261315.0 mi8$1,066,736$134,975$133,342
62545Mechanicsburg, IL 6254515.8 mi2$315,450$157,725$157,725
62531Edinburg, IL 6253118.1 mi3$354,699$119,900$118,233
62692Waverly, IL 6269218.9 mi4$203,800$50,950$50,950

Frequently Asked Questions

How many homes are for sale in SPRINGFIELD, IL 62704?

As of July 2026, there are 118 active listings in SPRINGFIELD, IL (zip code 62704), compared to 96 the prior year.

What is the median home price in SPRINGFIELD, IL 62704?

The median listing price in SPRINGFIELD, IL 62704 is $194,975 as of July 2026, a 3.3% increase from $188,675 the prior year.

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

Homes in SPRINGFIELD, IL 62704 spend an average of 35 days on the market before going under contract, compared to 26 days the prior year.

Is it a seller's or buyer's market in SPRINGFIELD, IL 62704?

Based on current inventory and days-on-market data as of July 2026, SPRINGFIELD, IL 62704 is currently a Buyer's Market. Inventory has increased compared to last year, with 22 more homes available — giving buyers more choice. Homes are taking longer to sell, averaging 35 days on market compared to 26 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 62704 save an estimated $3,900 compared to a typical 5% commission on the median listing price of $194,975. 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.