Is Springfield, IL 62712 a buyer’s or seller’s market?

The Springfield housing market right now

In the three months ending August 31, 2026, 29% of homes in Springfield, IL 62712 sold above their list price, the typical home went under contract in 8 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 52 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 40%, homes sold more slowly (5 days then) and the median sale price fell 14% to $295,272. Overall, Springfield is less competitive than a year ago, which gives buyers more room.

Within Sangamon County, homes here sell more slowly than in 65% of the county’s ZIP codes, and sell less often over asking than in 70%. On our competition score, Springfield ranks #189 of 464 IL ZIP codes with enough sales (score 71 out of 100).

Nearby, buyers who want less competition could look at Loami 62661 (0% sold over asking) or Cantrall 62625 (0% sold over asking), while Springfield 62707 (64% sold over asking) and Rochester 62563 (56% sold over asking) are even more competitive.