Rinse and dry the figs. Remove the stems, then cut each fig in half and slice each half into six small pieces.
In a heavy-bottomed pan, combine the chopped figs, sugar, lemon juice, and water. Heat the mixture over medium heat, stirring occasionally, until it comes to a boil and the sugar is fully dissolved.
Once the mixture comes to a boil, lower the heat and let it simmer for about 15 to 20 minutes, stirring occasionally as the figs break down, soften and the mixture starts to thicken. Note: I used a wide 4-quart casserole pan, which helped the figs cook faster thanks to the larger surface area.
Use a digital thermometer to check for doneness, ensuring the temperature gradually reaches 120°F. Alternatively, you can use a spatula to test the consistency by lifting the mixture and letting it drop back into the pan. The final few drops should be thicker and take longer to fall.
Turn off the heat and let the jam cool before mashing it with a potato masher or using a hand blender to achieve your desired consistency.
Spoon the jam into a glass jar and let it cool to room temperature before storing it in the refrigerator. Makes about 10 ounces of Jam. Store in the refrigerator for up to 2 months.