"The Springfield, IL metro housing market recorded a median days on market of 28 days for the week ending Nov. 7, 2025, moving faster than the Illinois state median of 49 days. The accelerated sales pace comes as the metro's median list price sits at $199,700, well below the state median of $309,900. Springfield's housing market shows buyer-favorable conditions with 232 active listings and 2.2 months of supply."
"Price adjustments remain elevated, with 43.1% of active listings taking price cuts compared to just 0.4% increasing prices. Active inventory totaled 232 single-family homes in the Springfield metro, with sellers adding 37 new properties to the market during the week. The market absorbed 25 homes, maintaining a 2.2-month supply that matches the Illinois state level of 2.3 months. Both remain below the national 2.9 months of supply."
"The 28-day median days on market represents one of the fastest sales paces in the region. Homes in Springfield sell faster than the national median of 77 days. The rapid turnover occurs despite limited price appreciation pressure, with the median list price at $199,700. Springfield's median list price of $199,700 translates to $113.2 per square foot, significantly below the state median of $168.1 per square foot and the national median of $213.1."
The Springfield, IL metro recorded a 28-day median days on market for the week ending Nov. 7, 2025, faster than the Illinois median of 49 days and the national median of 77 days. The metro's median list price is $199,700, translating to $113.2 per square foot, well below state and national per-square-foot medians. Active inventory totaled 232 single-family listings, with 37 new listings added and 25 homes absorbed, yielding a 2.2-month supply. Price reductions affected 43.1% of active listings while 0.4% increased prices and 1.7% were relisted.
Read at www.housingwire.com
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