Is Springfield, MA 01128 a buyer’s or seller’s market?
Springfield is a seller’s market. With about 0.5 months of supply and 85% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
The Springfield housing market right now
In the three months ending August 31, 2026, 85% of homes in Springfield, MA 01128 sold above their list price, the typical home went under contract in 21 days and there were 0.5 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 13 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 73%, homes sold about as fast and the median sale price rose 20% to $384,833. Overall, Springfield is more competitive than a year ago, so tougher for buyers.
Within Hampden County, homes here sell faster than in 51% of the county’s ZIP codes, and sell more often over asking than in 97%.
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) is even more competitive.
Run the numbers for 01128
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 seller’s market: there were 0.5 months of supply in Springfield, MA 01128 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 21 days in the latest three months.
Do homes in Springfield sell over asking?
85% of homes sold above their original list price, and the typical sale closed at 105.4% 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 $384,833 in the three months ending August 31, 2026, about $236 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