Springfield, NJ Real Estate Market Update: How 2026 Compares to 2025

By John Apicella, Cynthia Apicella Group | Keller Williams Midtown Direct Realty | Updated September 2026

If you own a home in Springfield or you’re thinking about buying here, you’ve probably heard mixed messages about the market. Some people say prices are still climbing. Others say things are finally slowing down. The truth, based on the numbers, is a little of both.

We pulled every residential sale in Springfield Township from the Garden State MLS for January 1 through September 23, 2026, and compared them with the exact same dates in 2025. We also looked at how Springfield stacks up against two of its neighbors, Summit and Mountainside. Here’s what changed, what didn’t, and what it means for you.

Key takeaways

• Prices are still rising. The median sale price is up about 5%, from $666,250 to $700,000.
• Bidding wars are cooling. Homes are still selling over asking, but by less: about 2% over, compared with about 5.5% over last year.
• Homes are taking a little longer to sell. The median time on market went from 14 days to 19 days.
• Sales volume is steady. 110 homes sold this year, compared with 108 in the same period last year.
• Sellers are pricing higher. The median list price jumped nearly 9%, which explains much of why over-asking offers have shrunk.
• Springfield remains a value next door to pricier towns. The median Springfield home sold for about $300,000 less than in Mountainside and nearly $1 million less than in Summit.

Springfield by the numbers

Source: Garden State MLS, residential sales (single-family, townhomes, and condos) in Springfield Township, Union County. Information deemed reliable but not guaranteed.

Prices: still going up, just more slowly

The headline number is the median sale price: $700,000 in 2026, up about 5% from $666,250 last year. Half of all Springfield homes sold for more than $700,000 and half for less.

The average sale price rose more modestly, about 2%, from $707,484 to $720,788. When the median rises faster than the average, it usually means the middle of the market is doing the heavy lifting. That matches what we’re seeing on the ground: the typical Springfield home, a 3-bedroom, 2-bath house with about 8 rooms, is where the most competition is.

At the very top, the highest sale this year was $1,650,000, compared with $1,716,000 last year. That’s not a sign that luxury values are falling. With only a handful of sales above $1.3 million each year, one or two sales can move that number.

Competition: over asking, but less than last year

This is the biggest change in 2026.

In 2025, the median Springfield home sold for 105.5% of its list price, meaning a home listed at $600,000 typically sold for about $633,000. Some homes went as high as 135% of asking.

In 2026, that has come down to 102.2%. The same $600,000 listing now typically sells for about $613,000. The top end has come down too: the highest sale-to-list ratio this year was about 119%, compared with 135% last year.

Part of this is a change in pricing strategy. The median list price jumped from $617,000 to $670,000, almost 9%, while the median sale price rose about 5%. In other words, sellers are listing closer to what homes are actually worth, so there’s less room for buyers to bid up the price. In 2025, many homes were listed low to spark multiple offers. In 2026, more homes are priced near market value from the start.

For buyers, that’s a real change. You’re still likely to pay at or above asking for a good home, but the days of routinely offering $50,000 to $100,000 over list are less common.

Speed: homes are still selling fast

The median Springfield home went under contract in 19 days this year, compared with 14 days last year. The average went from 21 days to 30.

Nineteen days is still fast by almost any standard. It means most well-priced homes are selling within three weeks. The longer average tells us something else: homes that are overpriced or need work are sitting longer. The longest time on market this year was 292 days, compared with 154 days last year.

The lesson is clear: in 2026, the right price matters more than ever. Buyers have a little more time to compare, and they’re walking past homes that don’t feel like good value.

How Springfield compares with Summit and Mountainside

Springfield borders both Summit and Mountainside, and many of our buyers look at all three towns. Here’s how they compare for the same period, January 1 to September 23, 2026:

Source: Garden State MLS, residential sales, January 1 to September 23, 2026.

A few things stand out:

Springfield offers the most accessible price point. The median Springfield home sold for about 30% less than in Mountainside and about 58% less than in Summit. For buyers who want to be in this part of Union County, near the same parks, highways, and NYC train lines, Springfield is often the most attainable way in.

Homes are different sizes, too. Keep in mind that the typical home in Mountainside and Summit is larger, with an extra bedroom and bathroom. Part of the price gap reflects bigger homes, not just location. Still, even comparing similar homes, Springfield generally comes in at a lower price.

Summit is the most competitive of the three. Summit homes sold for nearly 110% of asking at the median, in just 12 days. Buyers priced out of that kind of competition often turn to Springfield, which keeps demand here steady.

Mountainside is the most balanced. Homes there sold at about list price, at a median of 21 days, with fewer sales overall.

Springfield sits in the middle. It’s competitive enough that well-priced homes sell over asking in under three weeks, with more room to negotiate than Summit.

What’s selling, and at what price

Springfield offers a wide range of homes, which is part of what keeps demand steady. Based on 2026 public sale records:

• Troy Village townhomes and condos have mostly sold between about $295,000 and $505,000.
• Condos at 445 Morris Avenue have sold between about $260,000 and $352,000.
• Park Place townhomes have sold between about $445,000 and $725,000.
• Single-family homes have ranged from about $500,000 for smaller homes to $1.6 million for larger homes in neighborhoods near Baltusrol and the Summit border.

That range gives Springfield something many nearby towns don’t: real options for first-time buyers and downsizers, alongside move-up buyers and families looking for more space.

Our take: What we’re seeing day to day matches the numbers. Buyers are still out in force, especially for move-in-ready single-family homes, but they’re more selective than they were a year ago and are comparing homes before making offers. The sellers getting the strongest results are the ones who price close to market value from the start and take the time to prepare their homes before listing. For buyers, that means real opportunity on homes that have been sitting, as long as you’re ready to move quickly when the right one comes along.

What this means if you’re selling

1. Price it right from day one. The overpriced homes are the ones sitting on the market, and a home that sits starts to look like it has a problem. Pricing close to market value, based on recent comparable sales, gets you the most attention in the first two weeks, when most buyers are looking.

2. Presentation matters again. When buyers were competing fiercely, they overlooked a lot. In 2026 they have a little more time to compare, so clean, well-prepared, well-photographed homes are winning. Small updates like fresh paint, updated lighting, and good staging go further than they did last year.

3. You’re still in a strong position. Prices are up about 5%, homes are selling in under three weeks, and the typical home still sells over asking. This is still a seller-friendly market. It’s just less of a frenzy.

4. Your home’s value has likely grown. If you bought even a few years ago, you may have more equity than you think. Get your free Springfield home value report.

What this means if you’re buying

1. You have a little more breathing room. With homes averaging 30 days on market, you may have time for a second showing or a closer look at a home, which was rare last year.

2. Expect to pay near or above asking for the best homes. A median sale-to-list ratio of 102% means most homes still sell over asking. Move-in-ready homes in popular price ranges will still draw multiple offers.

3. Look at homes that have been on the market longer. Homes past the 30-day mark may have more room for negotiation, especially if they’re priced a little high or need some work.

4. Get fully pre-approved before you start. When the right home comes up, sellers still favor buyers who are ready to move quickly with strong financing. With rates moving day to day, it also helps to talk with your lender about locking your rate.

Why buyers keep choosing Springfield

Location and commute. Springfield sits right between Millburn, Summit, and Mountainside. Springfield doesn’t have its own train station, but the township runs a Park & Ride jitney from the community pool parking lot at 44 Morrison Road to the NJ Transit Short Hills station, where Midtown Direct trains run to New York. The #114 bus also runs directly to Midtown Manhattan. For drivers, Interstate 78, U.S. Route 22, Route 24, and Route 124 all pass through Springfield, and Newark Airport is about ten miles away.

Value next door to pricier towns. As the comparison above shows, Springfield gives buyers access to the same area, the same parks, and the same commuting options as its neighbors, often for hundreds of thousands of dollars less.

History and character. The Battle of Springfield, fought here in 1780, was the last of many Revolutionary War battles in New Jersey, and landmarks like the Cannon Ball House, built in 1741 and now a museum, are still standing.

Recreation. From Briant Park, with its pond and paved trail loop, to the famous Baltusrol Golf Club, which has hosted the PGA Championship and seven U.S. Opens, Springfield has plenty of green space for its size.

What to watch for the rest of 2026

Fall is usually a slower season in Springfield, with fewer new listings and fewer buyers. Based on the trends so far, here’s what we’d keep an eye on:

• Days on market are the early signal. If they keep rising, buyers will gain more negotiating power heading into winter.
• Pricing will stay critical. Homes priced at market value should still sell quickly; overpriced homes will likely sit longer through the holidays.
• Mortgage rates have been climbing. As of September 23, the average 30-year fixed rate was 7.26%, according to Mortgage News Daily, near the top of its range over the past year, which dipped as low as about 6%. On a typical $700,000 Springfield home with 20% down, that works out to roughly $470 more per month in principal and interest than at 6%. If rates stay high, expect more buyers to look at condos and townhomes, and to negotiate harder on homes that have been on the market for a while.

We’ll update these numbers at the end of the year with a full 2026 comparison.

Frequently asked questions

Are home prices going up in Springfield, NJ?

Yes. The median sale price from January 1 to September 23, 2026, was $700,000, up about 5% from $666,250 during the same period in 2025 (Garden State MLS).

How long does it take to sell a home in Springfield, NJ?

The median home sold in 19 days in 2026, compared with 14 days in 2025. Homes priced at market value typically sell within three weeks.

Do homes in Springfield sell over asking price?

Most do. The median home sold for 102.2% of its list price in 2026, down from 105.5% in 2025. Buyers are still paying over asking, but by less than last year.

Is Springfield cheaper than Summit and Mountainside?

Yes. In 2026, the median sale price was $700,000 in Springfield, compared with $999,999 in Mountainside and $1,680,000 in Summit (Garden State MLS, January 1 to September 23). Homes in Summit and Mountainside also tend to be larger.

Is 2026 a good time to sell in Springfield?

Prices are higher than last year and homes are still selling quickly, so conditions remain favorable for sellers, especially those who price accurately and prepare their homes well.

Is it a better time to buy in Springfield than last year?

Buyers have a bit more time and negotiating room than in 2025, particularly on homes that have been on the market longer than a month, though the best homes still draw multiple offers.

Thinking about buying or selling in Springfield?

We live in Springfield, work in Springfield, and have helped over 250 families buy and sell here. Whether you want to know what your home is worth in today’s market or you’re starting your search, we’d love to help.

Get your free Springfield home value report | Search Springfield homes for sale | Email [email protected]

Data sources: Garden State MLS, residential sales in Springfield Township, Mountainside, and Summit, January 1 to September 23 of 2025 and 2026. Information deemed reliable but not guaranteed. Price ranges by complex are based on public sale records. Mortgage rate data: Mortgage News Daily, September 23, 2026.