ZIP 62704 Housing Market Update (Feb 22, 2026): Prices Up, Homes Moving Fast
62704 – February 22, 2026 – Springfield-area buyers are seeing fast sales and rising prices; current mortgage rates near 6% keep budgets tight.
ZIP 62704 (Springfield, Illinois area, including parts of Sangamon County) continues to look like a fast-moving market as we head into late February.
Top takeaways
- Prices: Redfin reports a January 2026 median sale price of $190,000 in 62704, up 7.3% year over year.
- Speed: Homes averaged 7 days on market in January (down from 18 days a year earlier).
- Negotiation: Sale-to-list is about 98.9%, and roughly 34.4% of homes sold above list price.
- Rates: Freddie Mac’s weekly average 30-year fixed rate was 6.01% (week of Feb. 19, 2026), which still shapes affordability for local buyers.
Market snapshot (latest monthly data)
Redfin’s latest snapshot for 62704 shows 131 homes sold in January 2026 (essentially flat year over year). While the median price is higher, the median price per square foot is listed at $94, down 10.5% from last year. That mix can happen when the types of homes selling shift from month to month (more smaller homes or more older housing stock in one period, for example).
The competitive feel is also showing up in how quickly well-presented homes go pending. If you are listing, tight prep timelines matter; if you are buying, being fully pre-approved (not just pre-qualified) can be the difference when multiple offers come in.
Inventory check: what’s for sale right now
Active inventory varies by site and filters, but it gives a quick sense of selection. Zillow shows 47 results in 62704, while Realtor.com shows 93 homes for sale in the ZIP. The headline for buyers: there are options, but the best-priced listings still move quickly.
What’s for sale nearby (examples)
- Entry-level single-family homes: multiple 2-bed options are being marketed roughly in the $90k to $125k range.
- Mid-range move-in-ready homes: several 3-bed to 4-bed listings cluster around the mid-$200k to low-$300k range.
- Upper-end pick: there are also larger 4-bed homes in the ZIP (including Leland Grove addresses within 62704) marketed around the mid-$500k range.
Local pros (ServiceXTC)
We attempted to pull 3–5 verified ServiceXTC provider pages for ZIP 62704 (inspectors, roofers, HVAC, electricians, plumbers, remodelers), but no confirmed local directory pages were available in our current index. If you are a local home-service pro in 62704, getting listed helps buyers and sellers find trusted help faster.
Sources used for today’s update
- Redfin: 62704 housing market trends
- Zillow: 62704 homes for sale overview and houses search
- Realtor.com: 62704 homes for sale search
- Freddie Mac: Primary Mortgage Market Survey (PMMS)
What are you seeing in 62704 right now: more price cuts, more bidding wars, or a steadier pace?