Prices, inventory, and demand — distilled every month into one clear verdict: buyer’s market or seller’s. The investor’s read, before you make an offer.
Only on the right house. Neither side has the upper hand in Springfield right now.
Neither side has the upper hand in Springfield. Buyers and sellers are evenly matched. The market will not hand you a discount. You have to find it in one specific listing.
About as many homes are under contract as are sitting unsold. Neither side is desperate. Your room to negotiate depends on the listing, not the market. Few sellers are dropping their price. Asking prices are holding firm. Your discount will come from one stale listing, not from the whole market.
A typical Springfield home takes 38 days to find a buyer. Half of them take even longer. That is 20% faster than a year ago. Those sellers are paying to own a house they want to sell. Search for homes listed 60+ days ago. There are 160 homes for sale in Springfield. That is 3.1 times the tightest month on record, but below the peak of 420. Supply is shrinking against last year.
Asking prices are 3.3% below their Jul 2024 peak. You are not buying at the top. Prices are rising again. Every month you wait costs money. The question is no longer when. It is which house. Springfield prices have risen in 88 of the last 108 months. Drops here have been short and shallow. Buying in a slow month has rarely hurt a long hold.
This market is turning. Which way is not settled yet. Check the monthly numbers above before you commit.
In Springfield, 35 out of every 100 households rent. Most own their home. The renter share is shrinking. Five years ago it was 37 in 100. Springfield lost about 700 renter households in five years. Renter households average 2.3 people. Two and three bedrooms fit the typical renter.
Households grew 2% in five years. The housing stock held flat. Demand is outrunning supply. 9.4% of homes sit empty. That is normal for a healthy market.
The median Springfield household earns $60,487 a year. Incomes here have grown 4.0% a year since 2019. Home prices have outrun incomes. Locals are being priced out. A typical home costs 3.6 times the median income. Locals can afford to buy here. Your exit buyer can be a family, not just another investor. A tenant on the median income can pay about $1,512 a month. That is the standard 30% affordability line. Rents above it thin your tenant pool fast.
That is the market, not your address. Run an address through the app to see its rent estimate and cash flow.
Only on the right house. Neither side has the upper hand in Springfield right now. 102 out of every 100 homes for sale have a buyer, 17% of sellers have cut their price, and a typical home takes 38 days to sell.
Asking prices are 3.3% below their Jul 2024 peak. You are not buying at the top. Prices are rising again. Every month you wait costs money. The question is no longer when. It is which house.
Assume +6.4% a year. Springfield has grown about 6.4% a year for five years and for ten. That is a durable trend, not a boom artifact. It is a fair long-run input. Prices rose 5.7% over the last year. That is a timing signal, not a trend.
A typical Springfield home takes 38 days to find a buyer. Half of them take even longer. That is 20% faster than a year ago. Those sellers are paying to own a house they want to sell. Search for homes listed 60+ days ago.
In Springfield, 35 out of every 100 households rent. Most own their home. The renter share is shrinking. Five years ago it was 37 in 100. 9.4% of homes sit empty. That is normal for a healthy market.
A tenant on the median income can pay about $1,512 a month. That is the standard 30% affordability line. Rents above it thin your tenant pool fast. The median Springfield household earns $60,487 a year.
Springfield has six ZIP codes. Each links to its live market dashboard.
Closest matches on asking price, price per square foot, days to sell, buyer demand, and price cuts.
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