Springfield, MO Housing Market Report

The Springfield, MO housing market is currently characterized by a transition toward a more balanced environment, though it still retains a slight edge for sellers due to a high sale-to-list ratio of 0.99. As of December 2025, the median home value stands at $235,181, representing a modest year-over-year increase of 0.98%. While prices are holding steady, the most significant shift is found in inventory levels, which have climbed nearly 9% over the past year. This increase in active listings, combined with homes spending an average of 68 days on the market—ten days longer than the previous year—suggests that buyers now have more leverage and selection than they did during the post-pandemic surge.

Price trends over the last six months indicate a consistent, albeit slow, upward trajectory. After a period of relative stagnation in mid-2025, values began to accelerate slightly in the final quarter of the year, moving from $232,108 in July to $235,181 in December. This steady growth is likely driven by Springfield's enduring appeal as an affordable regional hub, even as higher inventory levels prevent the rapid price spikes seen in previous years. Meanwhile, the rental market remains robust with a 4.93% annual increase, pushing median rents to $1,246 and potentially incentivizing long-term renters to consider homeownership as a means of stabilizing their monthly housing costs.

Looking ahead, the Springfield market appears poised for a period of stability. For sellers, the key to a successful transaction in 2026 will be realistic pricing and patience, as the increase in days on market indicates that buyers are being more selective. For buyers, the current climate offers a rare window of opportunity where inventory is rising and the gap between list prices and sale prices is narrowing. While the market is not seeing a decline in value, the slower pace of appreciation provides a more predictable environment for those looking to enter the market without the pressure of extreme bidding wars.