Comprehensive market data and analysis• Updated Dec 2025
23.1 months of supply
High inventory favors buyers with more choices and negotiating power.
| Acreage | 30D | 3M | 6M | 12M |
|---|---|---|---|---|
| 0-1 acres | 2 | 12 | 22 | 37 |
| 1-2 acres | - | 1 | 7 | 11 |
| 2-5 acres | - | 1 | 1 | 2 |
| 5-10 acres | - | - | - | 1 |
| 10-20 acres | - | 1 | 1 | 1 |
| 20-50 acres | - | - | - | 1 |
| 50-100 acres | - | - | - | - |
| 100+ acres | - | - | - | - |
| TOTAL | 2 | 15 | 31 | 53 |
Acreage buckets
The median price for land in Springfield, Illinois is currently $117K per acre. For a typical parcel, the median sale price is $57K. Market volatility is currently high, meaning prices can vary significantly based on location and access. Recently, the cheapest land sold for $7K while premium lots reached $199K.
Springfield, Illinois is currently a strong buyer's market with 23.1 months of supply. Buyers have more negotiating power and can take time to find the right property. Prices have decreased 41.0% year-over-year.
Springfield, Illinois currently has 23.1 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 59 properties sold, totaling $5.4M in sales volume. In just the last 3 months, 16 properties changed hands.
The 3-month absorption rate in Springfield, Illinois is 4.3%. The 12-month rate is 4.0%. 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 4.3% (3-month basis), indicating slow demand. With depreciating values (-41.0% YoY), buyers may find value opportunities. The top-performing broker in this market is The Real Estate Group, Inc..
Land in Springfield, Illinois averages $185K per acre. The median price per acre is $117K, which may be more representative of typical transactions. Most parcels sold are around 16,117 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. Data is updated regularly but some transactions may have reporting delays. For the most accurate assessment of a specific property, we recommend consulting with a local real estate professional.
