Published October 18, 2026 in Market Update

Springfield homes still moved fast this summer

By Bethany Kuiken

Real estate, Springfield

Nationally, CNBC reported pending home sales were down 8.5% year over year. Springfield did not follow. The Real Estate Data Aggregator counted 109 pending sales in ZIP 62702 for the three months ending August 31, 2026. That was unchanged from the same three months in 2025. Sellers here have something most markets do not right now.

The Real Estate Data Aggregator found that 67.9% of homes in ZIP 62702 went under contract within two weeks of listing. That share was up 1.8 points from a year before. Most homes here did not sit long. Buyers who waited or came in light on terms likely missed out.

Nearly half of homes sold above list price

The Real Estate Data Aggregator put the share of homes selling above list price at 48.7% in ZIP 62702. That was up 10.9 points from the same period in 2025. Not every home drew a bidding war, but close to half did. A clean, well-priced offer still matters here.

Prices rose, but fewer homes came to market

The Real Estate Data Aggregator put the median sale price in ZIP 62702 at $142,500 for the three months ending August 31, 2026. That was up 11.3% from the same three months in 2025. At the same time, new listings fell 3.5% to 138 homes. Homes for sale dropped 18.8% to just 52. Less supply helped push prices up.

The average sale price came in at exactly 100% of list price, according to the Real Estate Data Aggregator. That was down just 0.2 points from a year before. Sellers who priced right got what they asked. Those who priced too high did not see a big cushion to fall back on.

The wider picture adds some pressure

Realtor.com reported that mortgage rates surged above 7% for the first time since January 2025. Fannie Mae, as reported by CNBC, forecasts the 30-year fixed rate at 7.4% for the fourth quarter of 2026. Higher rates squeeze buyers everywhere. Springfield's speed is a real strength against that backdrop.

Realtor.com also noted that price cuts hit 20.8% of listings nationally in September, the highest share since October 2022. That is not what the Real Estate Data Aggregator shows for ZIP 62702. Here, prices moved up, not down. Still, buyers across the country are more cautious, and that can reach any market.

One street can read very differently from the whole ZIP code. A block with more inventory or a different price range may tell a different story. The numbers above cover all of 62702 together.