Is Springfield, MA 01103 a buyer’s or seller’s market?
Springfield is a buyer’s market. With about 8.8 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The Springfield housing market right now
In the three months ending August 31, 2026, 0% of homes in Springfield, MA 01103 sold above their list price, the typical home went under contract in 29 days and there were 8.8 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 4 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking fell from 57%, homes sold more slowly (25 days then) and the median sale price fell 20% to $167,428. Overall, Springfield is less competitive than a year ago, which gives buyers more room.
Within Hampden County, homes here sell more slowly than in 91% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Bondsville 01009 (100% sold over asking) and Springfield 01128 (85% sold over asking) are even more competitive.
Run the numbers for 01103
Nearby markets
Agawam 01001Seller’s market $249 /sq ftBlandford 01008Seller’s market $257 /sq ftBondsville 01009Buyer’s market $218 /sq ftBrimfield 01010Balanced $247 /sq ft Browse all markets →Towns like Springfield nearby
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Questions about Springfield real estate
Is Springfield a buyer’s or seller’s market?
A buyer’s market: there were 8.8 months of supply in Springfield, MA 01103 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Springfield?
The typical home went under contract in 29 days in the latest three months.
Do homes in Springfield sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 96.4% of the list price.
What are property taxes in Springfield?
About 1.49% of a home’s value a year in Hampden County, or roughly $5,960 on a $400,000 home.
What is the median home price in Springfield?
The median sale price was $167,428 in the three months ending August 31, 2026, about $172 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology