Call or Text (240) SELL-123

SPRINGFIELD, IL 62704

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

Market Analysis

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

The SPRINGFIELD, IL real estate market (62704) currently shows 78 active listings, with 45 pending sales. Homes are averaging 31 days on the market before going under contract.

Inventory has increased compared to last year, with 5 more homes available — giving buyers more choice.

Homes are selling faster, averaging 31 days on market compared to 34 days last year.

The median listing price has risen 20.8% year-over-year, from $165,250 to $199,675.

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.

★ Page Sponsor
🏠
Sponsor This Market
Realtors & Brokers — reserve this page for SPRINGFIELD, IL 62704 and connect with motivated buyers & sellers.
Contact SELL123.com →

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
78
⇧ 6.8% vs 73 last year
Pending
45
58% pending ratio
Median Price
$199,675
⇧ 20.8% vs $165,250 last year
Average Price
$273,442
⇧ 18.6% vs $230,651 last year
Days on Market
31
⇩ 8.8% vs 34 days last year

Price Per Square Foot

Median $/sqft
$119
⇧ 22.7% vs $97/sqft last year
Median Home Size
1,849 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 78 this year vs 73 last year
  • Days on market: 31 now vs 34 last year

Median & Average Pricing

Year over Year
  • Median: $199,675 (+20.8% YoY)
  • Average: $273,442 (+18.6% 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 March 2026, there are 78 active listings in SPRINGFIELD, IL (zip code 62704), compared to 73 the prior year.

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

The median listing price in SPRINGFIELD, IL 62704 is $199,675 as of March 2026, a 20.8% increase from $165,250 the prior year.

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

Homes in SPRINGFIELD, IL 62704 spend an average of 31 days on the market before going under contract, compared to 34 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 March 2026, SPRINGFIELD, IL 62704 is currently a Balanced Market. Inventory has increased compared to last year, with 5 more homes available — giving buyers more choice. Homes are selling faster, averaging 31 days on market compared to 34 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 $3,994 compared to a typical 5% commission on the median listing price of $199,675. 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.