Home Values

Springfield Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$107,400

  • -3.2% 1-year change
  • 2.2% 1-year forecast

The median home value in Springfield is $107,400. Springfield home values have declined -3.2% over the past year and Zillow predicts they will rise 2.2% within the next year. The median list price per square foot in Springfield is $76, which is lower than the Springfield Metro average of $78. The median price of homes currently listed in Springfield is $109,900 while the median price of homes that sold is $106,985.

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Springfield is 2.8%, which is lower than the national value of 6.4%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Springfield homeowners underwater on their mortgage is 11.6%.

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Relative ZHVI
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Springfield Market Overview

Data through Jan 31, 2015
  • $107,400 ZHVI
  • 2.2% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Jan 31, 2016)
  • $109,900 Median listing price
  • $106,985 Median sale price
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Springfield Market Health

Data through Jan 31, 2015
  • 3.5/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
    (Dec 31, 2014)
  • No data Average days on Zillow
  • 11.6% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 2.8% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)
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Nearby Cities

Name Median ZHVI
Leland Grove $189,600
Sherman $186,400
Rochester $178,900
Name Median ZHVI
Chatham $163,800
Dawson $151,500
Riverton $107,600
Name Median ZHVI
Divernon $94,800
Southern View $79,900
Grandview $56,600

Listings & Sales

Data through Jan 31, 2015
  • $76 Median list price / sq ft
  • $75 Median sale price / sq ft (Dec 31, 2014)
  • No data Listings with price cut
22.6%
Sold below listing
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Springfield Rentals

Data through Jan 31, 2015
  • Zillow Rent Index

  • $886 Springfield
    $1,010 Springfield Metro
    $1,350 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 1.5 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • No data Rent list price
  • $0.75 Rent list price / sq ft
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