Is Monmouth, IL 61462 a buyer’s or seller’s market?
Monmouth is a balanced market. With about 4.8 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
The Monmouth housing market right now
In the three months ending August 31, 2026, 13% of homes in Monmouth, IL 61462 sold above their list price, the typical home went under contract in 36 days and there were 4.8 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. With only 8 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking was about the same (13% then), homes sold faster (59 days then) and the median sale price fell 8% to $123,696. Overall, Monmouth is more competitive than a year ago, so tougher for buyers.
Nearby, buyers who want less competition could look at Roseville 61473 (0% sold over asking) or Kirkwood 61447 (0% sold over asking), while Gerlaw 61435 (100% sold over asking) is even more competitive.
Run the numbers for 61462
Nearby markets
Gerlaw 61435 $104 /sq ftKirkwood 61447Seller’s market $117 /sq ftRoseville 61473Balanced $69 /sq ft Browse all markets →Towns like Monmouth nearby
Find towns like Monmouth in other states →Where Monmouth is
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Questions about Monmouth real estate
Is Monmouth a buyer’s or seller’s market?
A balanced market: there were 4.8 months of supply in Monmouth, IL 61462 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 Monmouth?
The typical home went under contract in 36 days in the latest three months.
Do homes in Monmouth sell over asking?
13% of homes sold above their original list price, and the typical sale closed at 95.2% of the list price.
What are property taxes in Monmouth?
About 1.81% of a home’s value a year in Warren County, or roughly $7,240 on a $400,000 home.
What is the median home price in Monmouth?
The median sale price was $123,696 in the three months ending August 31, 2026, about $92 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