(STACKER) – During the height of the pandemic in 2022, the typical home took less than a month to go from listed to under contract, creating the fastest housing market in history. But since then, home prices and mortgage rates have climbed substantially, pricing out many would-be buyers and sellers and slowing the market to a crawl.
It’s not all bad news, though. Recently, more consumers have been testing the waters on the heels of slowly improving affordability—and buyers who are in the market are especially keen to take advantage of a slow and favorable landscape. Buyers face less competition in most parts of the country, giving them more room to negotiate.
So, how is the Springfield, IL market doing in 2026? How long does it take to buy a house in the city, and how much above or below asking do they sell? To find out, Redfin Real Estate analyzed the city’s market speed using several metrics, such as median days on market, share of homes that sell within one week, and the sale-to-list ratio. Metro-level data is not seasonally adjusted. National-level data is seasonally adjusted except for median sale price. All data represents the monthly median for May 2026.
How long does it take to buy a house in Springfield, IL?
- Median days on market: 6 (-2 days YoY)
- Share of listings off-market in one week: 65.5% (+15.9% ppt YoY)
- Share of listings off-market in two weeks: 76.4% (+8.9% ppt YoY)
- Average sale-to-list ratio: 100.72% (+0.4% ppt YoY)
- Median sale price: $209,355 (+1.1% YoY)
How long does it take to buy a house nationwide?
- Median days on market: 49 days (+3 days YoY)
- Share of listings off-market in one week: 20.4% (+0.1 ppt YoY)
- Share of listings off-market in two weeks: 31.9% (+0.2 ppt YoY)
- Average sale-to-list ratio: 98.3% (-0.1 ppt YoY)
- Median sale price: $398,771 (+2.0% YoY)
This story was produced by Redfin Real Estate and reviewed and distributed by Stacker.
