Springfield closed 263 home sales with a reported price in September 2026, up 8.7% from a year ago, at a median of $254,900. At the same time, 411 new listings came on the market against 258 new contracts, and active inventory sat at 712, down 14.0% from September 2025. Homes are still selling quickly. More sellers are simply competing for the same number of buyers.
Here is what the city-wide numbers say, and what changes now that mortgage rates have crossed 7%.
Absorption rate: 2.52 months. Springfield has 2.52 months of supply at the current sales pace. Under 6 months is generally a seller’s market; under 3 months is strong seller territory.
Prices held up; the buyer pool did not grow
The median sale price rose +6.7% to $254,900, and the average rose +14.5% to $310,625. The median home went under contract in 18 days of cumulative market time, against 17.5 last September, so well-priced homes are moving at the same pace as a year ago. What did not grow was demand: 258 new contracts were written in September, exactly the same as September 2025, while 411 new listings arrived. Absorption came in at 2.52 months of supply, still firmly a seller’s market, and the second-tightest of the eight cities in this report after Fair Grove.
| Price band | September 2025 sold | September 2026 sold | Change |
|---|---|---|---|
| Under $50K | 4 | 2 | −50% |
| $50K – $100K | 11 | 11 | 0% |
| $100K – $120K | 8 | 9 | +13% |
| $120K – $140K | 14 | 5 | −64% |
| $140K – $160K | 17 | 17 | 0% |
| $160K – $180K | 19 | 19 | 0% |
| $180K – $200K | 10 | 19 | +90% |
| $200K – $250K | 51 | 44 | −14% |
| $250K – $300K | 36 | 45 | +25% |
| $300K – $400K | 35 | 46 | +31% |
| $400K – $500K | 18 | 19 | +6% |
| $500K – $600K | 8 | 11 | +38% |
| $600K – $700K | 5 | 5 | 0% |
| $700K – $800K | 3 | 1 | −67% |
| $800K – $900K | 2 | 3 | +50% |
| $900K – $1M | 0 | 1 | N/A |
| $1M – $1.5M | 1 | 5 | +400% |
| $2M+ | 0 | 1 | N/A |
Source: Southern Missouri Regional MLS via Flexmls, September 2026 vs. September 2025, residential closed sales with a reported sale price, Springfield (Greene County), MO.
Where Springfield’s sales landed
171 of the 263 priced sales closed under $300,000. The $200K to $400K range carried the month, and the $180K to $200K band nearly doubled from a year ago. The top end widened too: five sales closed between $1 million and $1.5 million, against one last September, which is a big part of why the average rose much faster than the median. Treat the average as skewed by those few large sales; the median is the better guide to a typical Springfield home.
What buyers should know right now
- Springfield had 723 active listings as of October 2, and 354 of them were priced under $300,000, the most options under $300K of any city in this report.
- Asking prices are running well ahead of selling prices. The median active list price was $310,000; the median sale was $254,900. Make offers based on closed sales, not on what neighboring sellers are asking.
- Homes sold at 98.3% of their final list price and 96.6% of their original list price. Homes that have been sitting and already cut their price are where your negotiating room is.
- Rates matter more than price this fall. Get pre-approved at today’s rate before you shop, so your budget reflects your real payment.
What sellers should know right now
- Your competition is the 411 new listings that came on in September, not last spring’s market. Price against homes that have sold in the last 90 days near you, not against active listings.
- Well-priced homes are still selling in a median of 18 days. If you have no serious showings in the first two weeks, the price is the problem.
- The gap between 98.3% of final list and 96.6% of original list is what overpricing costs: on a $254,900 home, that is several thousand dollars plus extra weeks of carrying costs.
- Buyers shop by monthly payment. With rates higher than a year ago, the same buyer can afford less, so get the price right at listing rather than chasing the market down.
Year-to-date trends (Jan–Sep 2026 vs. 2025)
With 712 homes for sale and buyers watching their payment, 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 enters the fall with 712 active listings, down 14.0% from a year ago, and pending sales flat year over year. Year to date, closings are up 6.1% at 2,527 and the median is up 1.3% at $249,000. Much of September’s contract activity happened before rates moved above 7% in late September, so October and November will show the real effect. Expect prices to hold for homes priced at recent sales and price cuts to continue for homes priced off active listings. Our full breakdown of what 7% rates mean for Springfield sellers is in Springfield MO Housing Market October 2026.
The bigger picture
Springfield is not a falling market. Inventory is lower than a year ago, sales are higher, and the median price is up. It is a market where buyers have become more selective. The data shows the dividing line clearly: homes priced at what buyers are actually paying sell in a median of 18 days, and homes priced at what sellers hope to get sit and get cut. 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 712 active listings in September 2026, down 14.0% from a year ago, with 2.52 months of supply. New listings (411) outpaced new contracts (258), so buyers have more choice than in the spring, and homes that have already cut their price leave room to negotiate. Higher mortgage rates make getting pre-approved first more important than usual.
Are home prices going up or down in Springfield, MO?
Springfield’s median sale price was $254,900 in September 2026, up 6.7% from September 2025, and the average was $310,625, up 14.5%. Year to date, the median is $249,000, up 1.3% from 2025. Prices are rising slowly, but asking prices on active listings are running well ahead of what homes actually sell for.
How fast do homes sell in Springfield, MO?
The median Springfield home that sold in September 2026 went under contract in 18 days of cumulative market time, compared with 17.5 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 $254,900 in September 2026, and the year-to-date median is $249,000. 171 of the month’s 263 priced sales closed under $300,000, and Springfield has the lowest year-to-date median of the eight cities in our report.
Figures reflect residential sales in Springfield (Greene County), MO for September 2026 compared with September 2025, pulled from the Southern Missouri Regional MLS via Flexmls on October 2, 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 September. Prior-month figures can shift slightly as late sales are recorded. One Springfield sale entered in the MLS at $2,517,500 on a $259,900 list price was treated as an entry error and left out of price figures. Market data is provided for general information and is not a guarantee of future results or a substitute for professional or financial advice.