Springfield, IL Foreclosures
How much do homes sell for in Springfield, IL?
The average home price is currently $214,731.
In Springfield, IL, how many homes are available?
There are currently 804 active home listings available in Springfield.
What’s the average rental cost in Springfield, IL?
The average rental price in Springfield is $1,146.
What is the most expensive home in Springfield?
The most expensive home sold in Springfield had a price of $59,877,800.
What is currently the cheapest priced home in Springfield, IL?
The cheapest home for sale in Springfield is priced at $10,007.
Living in Springfield, IL
Springfield, IL offers a unique combination of historical significance and modern living. Known as the hometown of President Abraham Lincoln, residents can enjoy access to cultural landmarks, diverse amenities, and a variety of recreational activities. With a mix of affordable housing options, Springfield stands out as a welcoming community for families and professionals.
Current Market Conditions in Springfield, IL
The real estate market in Springfield has shown a steady increase in property values over the past year, buoyed by a demand for affordable housing and a stable job market. The combination of historic charm and modern amenities continues to attract both new residents and investors, making Springfield an appealing option for real estate ventures. Currently, the market favors sellers, with homes frequently receiving multiple offers.
Several new developments have been introduced to the Springfield market, including the revitalization of the downtown district, which is expected to further boost real estate prices. However, buyers can still find reasonably priced options, especially in the suburbs, which are becoming increasingly popular among families.
Home Value Estimator For Springfield, IL
There are currently 51,694 real estate properties
in Springfield, IL,
with a median automated valuation model (AVM) price
of $159,785.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Springfield, IL, based on current market
trends, comparable real
estate sales nearby, historical data and, of course, property features, among other
variables. These automated home estimates are often very helpful, providing buyers
and
sellers with a better idea of a home’s value ahead of the negotiation process. For
example,
the average home price in Springfield, IL,
is $214,731.00, with the most expensive house
in Springfield, IL, topping out
at $59,877,800.00 and the cheapest home
in Springfield, IL,
clocking in at $10,007.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Springfield, IL!
Rent Prices
In Springfield, IL
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Springfield, IL, is on
a rollercoaster ride. The
average rent price in Springfield, IL,
is $1,146.00. Indeed, when looking to rent in
Springfield, IL, you can expect to pay as little
as $500.00 or as much
as $2,380.00,
with the average rent median estimated to
be $1,090.00. The good news is that finding
an affordable and desirable property to rent in Springfield, IL
-- whether it’s apartments,
townhomes, condominiums or single-family homes -- is made easier with knowledge of
the
local market and, of course, a little patience.
Learn more on Foreclosure homes
