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SPRINGFIELD, IL 62702

Real Estate Market Report
Seller's Market
February 2026  ·  Source: Realtor.com

Market Analysis

Data as of February 2026. Source: Realtor.com.

The SPRINGFIELD, IL real estate market (62702) currently shows 66 active listings, with 34 pending sales. Homes are averaging 38 days on the market before going under contract.

Inventory has tightened compared to last year, with 14 fewer active listings — creating more competition among buyers.

Homes are selling faster, averaging 38 days on market compared to 48 days last year.

The median listing price has risen 32.9% year-over-year, from $94,000 to $124,900.

Whether you are buying or selling in SPRINGFIELD, IL, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Context

Market Context

Population: 32,539  ·  Density: 817.7/mi²  ·  Median household income: $51,814

Typical home value: $98,285  ·  Homeownership: 63.1%

Market Overview

Active Listings
66
⇩ 17.5% vs 80 last year
Pending
34
52% pending ratio
Median Price
$124,900
⇧ 32.9% vs $94,000 last year
Average Price
$135,402
⇧ 2.5% vs $132,077 last year
Days on Market
38
⇩ 20.8% vs 48 days last year

Price Per Square Foot

Median $/sqft
$92
⇧ 15% vs $80/sqft last year
Median Home Size
1,369 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 66 this year vs 80 last year
  • Days on market: 38 now vs 48 last year

Median & Average Pricing

Year over Year
  • Median: $124,900 (+32.9% YoY)
  • Average: $135,402 (+2.5% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 17.9 miles — 223 listings ($51,243,170 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
62702Springfield, IL 627020.0 mi67$10,070,971$119,950$150,313
62704Springfield, IL 627044.1 mi88$17,389,856$164,900$197,612
62712Springfield, IL 627126.1 mi20$8,079,280$399,900$403,964
62625Cantrall, IL 626256.4 mi2$438,000$219,000$219,000
62561Riverton, IL 625617.9 mi6$1,439,700$240,000$239,950
62563Rochester, IL 6256310.6 mi13$5,846,126$312,922$449,702
62693Williamsville, IL 6269311.3 mi2$499,900$249,950$249,950
62677Pleasant Plains, IL 6267712.6 mi6$3,247,350$259,450$541,225
62670New Berlin, IL 6267014.5 mi3$279,600$93,200$93,200
62519Cornland, IL 6251915.0 mi1$190,000$190,000$190,000
62634Elkhart, IL 6263416.8 mi1$125,000$125,000$125,000
62688Tallula, IL 6268817.1 mi5$1,049,500$209,900$209,900
62675Petersburg, IL 6267517.9 mi9$2,587,887$229,000$287,543

Frequently Asked Questions

How many homes are for sale in SPRINGFIELD, IL 62702?

As of February 2026, there are 66 active listings in SPRINGFIELD, IL (zip code 62702), compared to 80 the prior year.

What is the median home price in SPRINGFIELD, IL 62702?

The median listing price in SPRINGFIELD, IL 62702 is $124,900 as of February 2026, a 32.9% increase from $94,000 the prior year.

How long do homes stay on the market in SPRINGFIELD, IL?

Homes in SPRINGFIELD, IL 62702 spend an average of 38 days on the market before going under contract, compared to 48 days the prior year.

Is it a seller's or buyer's market in SPRINGFIELD, IL 62702?

Based on current inventory and days-on-market data as of February 2026, SPRINGFIELD, IL 62702 is currently a Seller's Market. Inventory has tightened compared to last year, with 14 fewer active listings — creating more competition among buyers. Homes are selling faster, averaging 38 days on market compared to 48 days last year.

How much can I save on real estate commission in SPRINGFIELD, IL?

With SELL123.com's maximum 3% commission, sellers in SPRINGFIELD, IL 62702 save an estimated $2,498 compared to a typical 5% commission on the median listing price of $124,900. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.