Comprehensive market data and analysis• Updated Oct 2026
55.7 months of supply
High inventory favors buyers with more choices and negotiating power.
| Acreage | 30D | 3M | 6M | 12M |
|---|---|---|---|---|
| 0-1 acres | 2 | 3 | 12 | 30 |
| 1-2 acres | 1 | 1 | 2 | 3 |
| 2-5 acres | - | - | 2 | 3 |
| 5-10 acres | - | - | 1 | 3 |
| 10-20 acres | - | 1 | 1 | 1 |
| 20-50 acres | - | - | - | - |
| 50-100 acres | - | - | - | - |
| 100+ acres | - | - | - | - |
| TOTAL | 3 | 5 | 18 | 40 |
Acreage buckets
The median price for land in Springfield, Illinois is currently $165K per acre. For a typical parcel, the median sale price is $60K. Market volatility is currently high, meaning prices can vary significantly based on location and access. Recently, the cheapest land sold for $18K while premium lots reached $334K.
Springfield, Illinois is currently a strong buyer's market with 55.7 months of supply. Buyers have more negotiating power and can take time to find the right property.
Springfield, Illinois currently has 55.7 months of inventory supply. This indicates a strong buyer's market. High supply means buyers have plenty of choices and stronger negotiating position.
Over the past 12 months, Springfield, Illinois saw 46 properties sold, totaling $5.3M in sales volume. In just the last 3 months, 7 properties changed hands.
The 3-month absorption rate in Springfield, Illinois is 1.8%. The 12-month rate is 3.0%. Absorption rate shows what percentage of available inventory is being sold, with higher rates indicating stronger buyer demand.
The current absorption rate in Springfield, Illinois is 1.8% (3-month basis), indicating slow demand. The top-performing broker in this market is The Real Estate Group, Inc..
Land in Springfield, Illinois averages $284K per acre. The median price per acre is $165K, which may be more representative of typical transactions. Most parcels sold are around 14,342 sq ft.
Market statistics are compiled from multiple sources including LandyDandy listings, Zillow.com, Realtor.com, Redfin.com, county records, and MLS data. While we strive for accuracy, these figures are estimates and may not reflect 100% of market activity, and some transactions are reported late. The date at the top of the page is the report date. For the most accurate assessment of a specific property, we recommend consulting with a local real estate professional.
See land for sale and off-market property records in Springfield on LandyDandy.
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