Is Lanark, IL 61046 a buyer’s or seller’s market?
Lanark is a seller’s market. With about 2.7 months of supply and 0% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
More competitive than 10% of U.S. ZIP codes, and #463 of 464 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Lanark housing market right now
In the three months ending August 31, 2026, 0% of homes in Lanark, IL 61046 sold above their list price, the typical home went under contract in 84 days and there were 2.7 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 25 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 15%, homes sold more slowly (42 days then) and the median sale price rose 29% to $394,079. Overall, Lanark is less competitive than a year ago, which gives buyers more room.
Within Carroll County, homes here sell more slowly, and less often over asking, than in any other ZIP code in the county. On our competition score, Lanark ranks #463 of 464 IL ZIP codes with enough sales (score 17 out of 100).
Nearby, Chadwick 61014 (100% sold over asking) and Milledgeville 61051 (50% sold over asking) are even more competitive.
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Nearby markets
Chadwick 61014Buyer’s market $70 /sq ftMilledgeville 61051Balanced $89 /sq ftMount Carroll 61053Balanced $82 /sq ftSavanna 61074Balanced $84 /sq ft Browse all markets →Towns like Lanark nearby
Find towns like Lanark in other states →Where Lanark is
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Questions about Lanark real estate
Is Lanark a buyer’s or seller’s market?
A seller’s market: there were 2.7 months of supply in Lanark, IL 61046 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Lanark?
The typical home went under contract in 84 days in the latest three months.
Do homes in Lanark sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 95.8% of the list price.
What are property taxes in Lanark?
About 1.99% of a home’s value a year in Carroll County, or roughly $7,960 on a $400,000 home.
What is the median home price in Lanark?
The median sale price was $394,079 in the three months ending August 31, 2026, about $141 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology