Is Springfield a buyer's or seller's market right now?

Springfield is currently a seller's market with 1.5 months of supply. 16.2% of homes sell above asking price, and 45.3% go pending within two weeks. The Ridley Sell Score for Springfield is 55/100 (Moderate), based on 7 real-time market signals including inventory, pricing trends, and buyer demand.

What's the median home price in Springfield?

The median home price in Springfield is $177,500, down 8% year-over-year. The median price per square foot is $101. Homes sell in a median of 7 days with a sale-to-list ratio of 97.9%.

How much does it cost to sell a home in Springfield, Illinois?

On a $177,500 home in Springfield, a traditional listing agent charges around $5,325 (3% commission). Add buyer agent commission (3%), closing costs (1–2%), and you could spend $14,200 or more. With Ridley Essentials ($999) you save $4,326, and with Ridley Pro ($3,499) you save $1,826 while getting full agent support.

How does Ridley's flat fee compare to a traditional Springfield agent?

A traditional Springfield listing agent typically charges 3% of the sale price — about $5,325 on a $177,500 home. Ridley offers two flat-fee plans: Essentials ($999) with MLS listing, marketing tools, and self-service support, or Pro ($3,499) with a dedicated licensed agent. That saves you $4,326–$1,826 compared to a traditional agent.

How long does it take to sell a home in Springfield?

The median home in Springfield currently spends 7 days on the market before going under contract. 45.3% of homes go pending within two weeks. At a 97.9% sale-to-list ratio, sellers are seeing some negotiation. Only 36.6% of listings see a price drop, suggesting sellers can hold firm on pricing.

Do I need a real estate agent to sell in Illinois?

No. Illinois does not require you to use a real estate agent to sell your home. You can sell independently (FSBO) or use a flat-fee service like Ridley that gives you MLS access, professional tools, and expert support at a fraction of the traditional commission. On a $177,500 home, that could save you up to $1,826.

What's included with Ridley Essentials and Pro?

Ridley offers two plans in Illinois. Essentials ($999) includes MLS listing distribution, professional listing tools, marketing materials, and self-service support. Pro ($3,499) includes everything in Essentials plus a dedicated licensed agent partner, expert pricing consultation, offer review and negotiation support, contract and deadline management, and full closing coordination. Both save significantly vs. the traditional $5,325 commission.

National/Illinois

Springfield, IL

Is Now a Good Time to Sell in Springfield, Illinois?

The median home in Springfield sells for $177,500 with prices down 8% year-over-year. The average seller pays $5,325 in commissions — Ridley’s flat fee saves you $1,826.

Springfield Real Estate Market Conditions — March 2026

55out of 100

Ridley Sell Score

How it's scored →

Moderate

55/100

A balanced market with opportunities for well-priced homes.

What this means for sellers

The Springfield market is balanced — neither strongly favoring buyers nor sellers. Accurate pricing is key: overpriced homes will sit, but correctly priced listings are still moving. Watch for competing listings dropping prices — come in sharp from day one. Sellers who prepare well can still achieve strong results.

Inventory TightnessFavors sellers

1.5 months of supply — well below the 5-month balanced threshold — 48% below the Illinois average of 2.9.

Price MomentumFavors buyers

Prices down 8% year-over-year — vs. +8% statewide.

Seller LeverageNeutral

Homes selling at 97.9% of asking — buyers are negotiating 2.1% below list. Illinois average is 98.1%.

Bidding ActivityFavors buyers

16.2% of homes selling above list price — 34% below the Illinois average of 24.7%.

Sale SpeedFavors sellers

7 median days on market — 52 days faster than the Illinois average.

Market UrgencyFavors sellers

45.3% of listings go pending within 2 weeks — vs. 38.4% statewide.

Price StabilityFavors buyers

36.6% of listings have dropped their price — accurate initial pricing is critical. Illinois average is 18.2%.

Score based on 7 real-time market signals. Updated with latest available data.

How it works →

Median Sale Price

The midpoint price of all homes sold in the past month. Half sold for more, half for less.

$177,500

-8%

Days on Market

How long the typical home sits on the market before going under contract. Lower is better for sellers.

Price per Sq Ft

Average cost per square foot of living space. Useful for comparing homes of different sizes.

$101

Sale-to-List Ratio

How close homes sell to their asking price. Above 100% means bidding wars; below means negotiation room.

97.9%

Months of Supply

How long it would take to sell all current listings at the current pace. Under 3 months favors sellers; over 6 favors buyers.

1.5

Seller’s market

Competitiveness

Overall market competition based on offers per listing, days on market, and sale-to-list ratio.

Somewhat Competitive

Sold Above List

Percentage of homes that sold for more than their list price.

16.2%

Room to negotiate

Price Drops

Percentage of active listings that had a price reduction.

36.6%

Price carefully

Pending in 2 Weeks

Percentage of listings that went under contract within 14 days.

45.3%

Moderate pace

12-Month Price Trend

$148,625 → $177,500

▲19.4%

$200K$180K$160K

AprJunAugOctDecFebMar

Data updated March 2026

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Personalized pricing signals, demand shifts, and Sell Score changes for Springfield — delivered monthly.

Your savings

How much can you save selling your home in Springfield?

The average Springfield homeowner saves $1,826 by selling with Ridley instead of paying the traditional 3% listing commission on a $177,500 home.

$0Estimated savings

That covers your moving costs — save 1.0% of your home value

Your Springfield home value

$177,500

$50,000$10M

Traditional Agent (3%)

$5,325

Ridley Pro (flat fee)

$3,499

Ready to sell in Springfield?

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Cost comparison

How much does it cost to sell a house in Springfield?

The total cost to sell a house in Springfield in 2026 ranges from $999 with Ridley Essentials to approximately $5,325 with a traditional 3% commission on a $177,500 home.

	Traditional Agent	Best valueRidley Pro	Ridley Essentials	FSBO
Listing fee	$5,325	$3,499	$999	$0
Buyer agent	$4,9702.8% avg	$3,550~2% avg	$3,550~2% avg	$4,9702.8% avg
Closing costs (~1.5%)	$2,663	$2,663	$2,663	$2,663
Total cost	$12,958	$9,712	$7,212	$7,633
Net proceeds	$164,542	$167,788	$170,288	$169,867
You save	—	$1,826	$4,326	$5,325No support