Is Springfield, MA 01118 a buyer’s or seller’s market?

The Springfield housing market right now

In the three months ending August 31, 2026, 77% of homes in Springfield, MA 01118 sold above their list price, the typical home went under contract in 20 days and there were 1.1 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 68 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 67%, homes sold about as fast and the median sale price fell 1% to $320,361. Overall, Springfield is more competitive than a year ago, so tougher for buyers.

Within Hampden County, homes here sell faster than in 71% of the county’s ZIP codes, and sell more often over asking than in 91%. On our competition score, Springfield ranks #3 of 362 MA ZIP codes with enough sales (score 94 out of 100).

Nearby, buyers who want less competition could look at Springfield 01103 (0% sold over asking) or Russell 01071 (0% sold over asking), while Bondsville 01009 (100% sold over asking) and Springfield 01128 (85% sold over asking) are even more competitive.