Market Intelligence · MA / Springfield

Springfield, MA 01118 Housing Market

Homes in Springfield 01118 have a typical value of $322,542, up 4.1% over the past year. The median list price stands at $324,975, with homes selling in a median of 19 days as of September 2026.

Updated September 2026Median value$323K

The median home value in Springfield, MA 01118 is $323K as of September 2026, up 4.1% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 01118 range

$297K to $348K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

+4.1% over 12 months

Sep 2025$310K

Low $310KHigh $323K

Sep 2026$323K

The numbers

What is the 01118 housing market like?

As of September 2026

Typical home value

$323K

4.1%YoY

Median list price

$325K

0.0%MoM

Days on market

42.4%MoM

Homes for sale

35.3%MoM

Price cuts

21.3%

New listings

10.0%MoM

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026) / FRED (October 2026)

The outlook

01118 housing market forecast 2027

+2.0%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 01118 to rise 2.0% by September 2027.

Over the 12 months through September 2026, typical home values in 01118 rose 4.1%, per the Zillow Home Value Index.

Will home prices drop in 01118?

Zillow's forecast does not call for a drop: it expects typical home values in 01118 to rise 2.0% by September 2027, after a 4.1% rise over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 01118 home prices compare?

01118$322,542
Springfield$307,665
Massachusetts$609,700
United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Springfield: 10 ZIPs; Massachusetts: 484 ZIPs; United States: 26,262 ZIPs).

Context

The area shows steady momentum, with 22 new listings appearing in September 2026 against 23 homes currently for sale. The quick median time on market of 19 days suggests reasonable buyer interest. However, 21.3% of listings have seen price cuts, indicating some sellers are adjusting expectations. For a homeowner considering a sale, the uptick in home values is encouraging, but the presence of price reductions signals you should price competitively from the start.

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Down payment20% · $64,508

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Common questions

What people ask us.

What is a typical home value in Springfield 01118?

The typical home value is $322,542 as of September 2026, having increased 4.1% over the past year.

How long do homes stay on the market in Springfield 01118?

Homes have a median days on market of 19 as of September 2026.

What is the median list price in Springfield 01118?

The median list price is $324,975 as of September 2026.

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Nearby ZIP markets.

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