Springfield MA housing update: Prices steady, rates below 6%, rezoning proposal advances
Springfield, MA – February 27, 2026 – Median sale price held near $300K, listings hovered near 170–260, and mortgage rates dipped below 6% this week.
Springfield, MA’s housing market remained tight into late winter, with prices holding steady while borrowing costs eased slightly. For buyers, that mix can keep competition elevated even when overall activity cools.
Key takeaways (recent data points)
- Redfin reported a $300K median sale price for January 2026 and 28 median days on market.
- Freddie Mac’s weekly average for a 30-year fixed mortgage was 5.98% (02/26/2026), dipping below 6%.
- Zillow’s typical home value was about $288K (through 12/31/2025), with homes going pending in around 20 days.
- Inventory stayed limited: Zillow showed about 170 active listings currently, and a December snapshot showed 262 for-sale units.
Market snapshot
Redfin also showed 75 homes sold in January, down year over year. Lower sales volume can reduce choice for shoppers and keep well-priced homes moving quickly. On the rental side, Zillow pegged average rent around $2K per month (Dec 2025), which may continue pushing some renters to compare monthly rent costs with ownership scenarios.
Development watch
A city proposal to rezone at least 25 parcels in the northeast downtown corridor from Industrial A to Business B is intended to broaden permitted uses, including housing, ahead of a potential City Council vote.