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SPRINGFIELD, IL 62704

Real Estate Market Report  ·  Sangamon County
Balanced Market
April 2026  ·  Source: Realtor.com

Market Analysis

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

The SPRINGFIELD, IL real estate market (62704) currently shows 87 active listings, with 67 pending sales. Homes are averaging 34 days on the market before going under contract.

Inventory has tightened compared to last year, with 19 fewer active listings — creating more competition among buyers.

Homes are taking longer to sell, averaging 34 days on market compared to 25 days last year.

The median listing price has risen 20.4% year-over-year, from $179,725 to $216,350.

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
87
⇩ 17.9% vs 106 last year
Pending
67
77% pending ratio
Median Price
$216,350
⇧ 20.4% vs $179,725 last year
Average Price
$328,479
⇧ 42.1% vs $231,120 last year
Days on Market
34
⇧ 36% vs 25 days last year

Price Per Square Foot

Median $/sqft
$117
⇧ 14.7% vs $102/sqft last year
Median Home Size
2,144 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 87 this year vs 106 last year
  • Days on market: 34 now vs 25 last year

Median & Average Pricing

Year over Year
  • Median: $216,350 (+20.4% YoY)
  • Average: $328,479 (+42.1% 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 April 2026, there are 87 active listings in SPRINGFIELD, IL (zip code 62704), compared to 106 the prior year.

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

The median listing price in SPRINGFIELD, IL 62704 is $216,350 as of April 2026, a 20.4% increase from $179,725 the prior year.

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

Homes in SPRINGFIELD, IL 62704 spend an average of 34 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 62704?

Based on current inventory and days-on-market data as of April 2026, SPRINGFIELD, IL 62704 is currently a Balanced Market. Inventory has tightened compared to last year, with 19 fewer active listings — creating more competition among buyers. Homes are taking longer to sell, averaging 34 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 62704 save an estimated $4,327 compared to a typical 5% commission on the median listing price of $216,350. 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.