Springfield moved faster even as national buyers pulled back
CNBC reported that applications for a mortgage to purchase a home fell 7% in a single week. That is a real pullback. But in Springfield's 62702 ZIP code, the Real Estate Data Aggregator counted a median of just 5 days on market for the three months ending August 31, 2026. Sellers here did not feel that slowdown the same way.
That 5-day median is 4 days shorter than the same period in 2025, according to the Real Estate Data Aggregator. Homes moved faster, not slower, even as national conditions tightened.
Most homes went under contract in two weeks or less
The Real Estate Data Aggregator found that 67.9% of homes in 62702 went under contract within two weeks of listing. That share was up 1.8 points from a year before. Not every home will get that response, but the majority did.
Nearly half of homes sold above list price
The Real Estate Data Aggregator recorded that 48.7% of homes in 62702 sold above list price. That share jumped 10.9 points from the same period in 2025. The average sale-to-list ratio held at 100%, down just 0.2 points from a year ago.
The national picture looks different
Realtor.com reported that mortgage rates climbed above 7% for the first time since January 2025. Nationally, Realtor.com also found that 20.8% of listings took a price cut in September, the highest share since October 2022. The Federal Housing Finance Agency put the national year-over-year price gain at just 2.6% through July 2026. Springfield's 11.3% median price gain, counted by the Real Estate Data Aggregator, sits well above that.
Fewer homes came to market too. The Real Estate Data Aggregator counted 138 new listings in 62702, down 3.5% from a year before. Only 52 homes were for sale at any one time, down 18.8%. With 1.4 months of supply, buyers had very little to choose from.
What this means if you own a home here
Speed is still real in Springfield, but not every home gets the same result. The Real Estate Data Aggregator counted 113 homes sold in 62702, down 11% from 2025. Some homes moved in days. Others did not. Pending sales held steady, unchanged from a year ago, which shows demand did not collapse.
If you are a buyer, CNBC's data shows rates averaged 7.41% for a 30-year fixed mortgage as of October 21, 2026. A well-priced home in 62702 can go fast. Being ready matters.
- The three months ending August 31, 2026 showed 62702 moving at a median of 5 days on market, with 67.9% of homes under contract in two weeks, per the Real Estate Data Aggregator.
- Nationally, CNBC reported purchase applications fell 7% in one week.
- Springfield did not follow that script, though fewer homes sold than a year before.
- One street can read very differently from the whole ZIP code.
Your next step
Text me your address and I will send back how long a home like yours is taking to sell in Springfield right now, against what actually closed near you. Takes a day, costs nothing.
Get my home value- Real Estate Data Aggregator numbers for ZIPs 62701 and 62702, the three months ending August 31, 2026, compared with the same months of 2025. Real Estate Data Aggregator last updated them on Oct 7, 2026.
- Federal Housing Finance Agency: FHFA House Price Index® Up 0.3 Percent in July; Up 2.6 Percent from Last Year | FHFA, Sep 29, 2026
- Redfin: U.S. Home Prices Ticked Up 0.25% in September, Oct 20, 2026
- Realtor.com: September 2026 Monthly Housing Trends: Price Cuts Hit 4-Year Highs as Mortgage Rates Top 7%, Sep 30, 2026
- Realtor.com: September 2026 Rental Report: Median Asking Rent Declines at the Slowest Pace in 3 Years, Oct 15, 2026
- CNBC: Mortgage rates drop for the first time in 2 months, but demand still falls further, Oct 21, 2026