Springfield closed 221 home sales with a reported price in October 2026, down 15.6% from a year ago, at a median of $241,000. New contracts fell harder: 221 homes went under contract, against 308 in October 2025. Sellers pulled back too, with 398 new listings against 447, so active inventory ended the month at 787, down 7.2%. The homes that did sell still moved quickly.
Here is what a slower October means for buyers and sellers heading into winter.
Absorption rate: 2.76 months. Springfield has 2.76 months of supply at the current sales pace. Under 6 months is generally a seller’s market; under 3 months is strong seller territory.
Fewer contracts, but homes still sell fast
The 221 new contracts written in October were down 28.2% from a year ago and fewer than the 245 written in September. Last year went the other way: contracts rose from 258 in September 2025 to 308 that October. New listings fell too, to 398 from 447, which kept supply in check. Absorption was 2.76 months of supply, against 3.17 last October, so Springfield is still a seller’s market. The homes that sold went under contract in a median of 19 days of cumulative market time, against 23 a year ago, at 98.3% of final list price and 96.4% of original list.
| Price band | October 2025 sold | October 2026 sold | Change |
|---|---|---|---|
| Under $50K | 3 | 3 | 0% |
| $50K – $100K | 12 | 7 | −42% |
| $100K – $120K | 10 | 4 | −60% |
| $120K – $140K | 11 | 17 | +55% |
| $140K – $160K | 13 | 9 | −31% |
| $160K – $180K | 8 | 18 | +125% |
| $180K – $200K | 14 | 11 | −21% |
| $200K – $250K | 59 | 51 | −14% |
| $250K – $300K | 38 | 27 | −29% |
| $300K – $400K | 58 | 34 | −41% |
| $400K – $500K | 17 | 16 | −6% |
| $500K – $600K | 5 | 10 | +100% |
| $600K – $700K | 5 | 2 | −60% |
| $700K – $800K | 3 | 6 | +100% |
| $800K – $900K | 1 | 2 | +100% |
| $900K – $1M | 2 | 2 | 0% |
| $1M – $1.5M | 3 | 2 | −33% |
Source: Southern Missouri Regional MLS via Flexmls, October 2026 vs. October 2025, residential closed sales with a reported sale price, Springfield (Greene County), MO.
Why the median and the average went different ways
The median was $241,000, down 3.6%, while the average was $296,060, up 3.3%. That split comes from the mix of homes that sold. The $300K to $400K range, one of Springfield’s busiest, fell to 34 sales from 58, which pulled the middle of the market down. At the same time, more homes sold at $500,000 and up: 24 against 19 last October, which lifted the average. 147 of the 221 priced sales closed under $300,000. Year to date, the median is $248,000, up 0.8%, so values are steady.
What buyers should know right now
- Springfield had 774 active listings as of November 1, and 406 of them were priced under $300,000, by far the most options under $300K of any city in this report.
- The median active list price was $289,900; the median October sale was $241,000. Base your offers on closed sales, not on what neighboring sellers are asking.
- Homes sold at 98.3% of final list price and 96.4% of original list price. Homes that have already been reduced are where you have room to negotiate.
- Fewer buyers wrote contracts in October, which means less competition on homes that have been listed for a few weeks. Get pre-approved first so you can move when the right one comes up.
What sellers should know right now
- Buyers slowed down in October: 221 new contracts, down 28.2% from a year ago. Price against homes that have sold near you in the last 90 days, not against active listings.
- Well-priced homes still sold in a median of 19 days. If you have no serious showings in the first two weeks, the price is the likely problem.
- The gap between 98.3% of final list and 96.4% of original list is what overpricing costs. On a $241,000 home, every percentage point is about $2,410.
- Fewer sellers listed in October (398 new listings, against 447 a year ago), so a well-presented home faces less new competition than it would have last fall.
Year-to-date trends (Jan–Oct 2026 vs. 2025)
With buyers writing fewer contracts and 787 homes for sale, pricing it right on day one is worth thousands. Find out where your home really stands with a real, agent-reviewed valuation.
Or call Zac directly at 417-413-4305 for a 10-minute market conversation.
What this means for the rest of 2026
Springfield’s year to date is still ahead of 2025: 2,750 closings, up 4.0%, at a median of $248,000, up 0.8%. Year-to-date new contracts are 2,944 against 2,870. October’s drop in contracts will likely show up as fewer closings in November and December. Expect prices to hold near the year-to-date median for homes priced at recent sales, and more price cuts for homes priced off active listings.
The bigger picture
Springfield is not a falling market. Inventory is lower than a year ago, homes are selling faster, and the year-to-date median is a little higher than in 2025. What changed in October is the number of buyers writing contracts. For sellers, that makes the first two weeks on the market matter more. For buyers, it means a little more room to negotiate on homes that have been sitting. For a deeper look at which homes are selling fastest across the area, see What’s Actually Selling in the Springfield, MO Area Right Now.
Springfield real estate: frequently asked questions
Is now a good time to buy a home in Springfield, MO?
Springfield had 787 active listings in October 2026, down 7.2% from a year ago, with 2.76 months of supply. New contracts fell to 221 from 308, so buyers face less competition than a year ago, and 406 active listings were priced under $300,000 as of November 1.
Are home prices going up or down in Springfield, MO?
Springfield’s median sale price was $241,000 in October 2026, down 3.6% from October 2025, and the average was $296,060, up 3.3%. The difference comes from which homes sold. Year to date, the median is $248,000, up 0.8% from 2025, so prices are essentially steady.
How fast do homes sell in Springfield, MO?
The median Springfield home that sold in October 2026 went under contract in 19 days of cumulative market time, compared with 23 days a year earlier. Homes sold at 98.3% of final list price. Overpriced homes take much longer and usually sell after a price cut.
How much does a home cost in Springfield, MO?
The median Springfield home sold for $241,000 in October 2026, and the year-to-date median is $248,000, the lowest year-to-date median of the eight cities in our report. 147 of the month’s 221 priced sales closed under $300,000.
Figures reflect residential sales in Springfield (Greene County), MO for October 2026 compared with October 2025, pulled from the Southern Missouri Regional MLS via Flexmls on November 1, 2026. Sold counts, prices and price bands use closed sales with a reported sale price. Days on market is the median CDOM (cumulative days on market). Active inventory, pending sales, new listings, sale-to-list ratios and absorption are the MLS monthly statistics. Year-to-date figures cover January through October. Prior-month figures can shift slightly as late sales are recorded. Market data is provided for general information and is not a guarantee of future results or a substitute for professional or financial advice.