Farmer City, IL Home Values & Market Trends
Real estate market trends reflect that there have been 35 transactions over the past year in Farmer City. The median value for residential home transactions that occurred over the previous year is $129,574.44. The number of current listings in Farmer City is 2, and the percentage of properties for sale in the city is 2.00%. Farmer City, IL currently has 6 properties in foreclosure, 2 bank owned properties, 1 properties headed for auction, and 2 properties for sale.
Farmer City, IL Real Estate Market Overview
| Zip | Median Est. Value |
|---|---|
| 61842 | $ 278,055 $ 98/sqft |
Housing Market Summary for Farmer City, IL
| Apr 2023 | March 2024 | Change | |
|---|---|---|---|
| Median Listing Price | $175K | $100.6K | -42.51% |
| Median Sold Price | $130K | $100.6K | -22.61% |
| Homes For Sale | 3 | 3 | - |
| Homes Sold | 27 | 16 | -40.74% |
Price Per Square Foot
On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.
Recently Sold Homes
Explore recent offers and recently sold homes in Farmer City, IL
Browse Homes in Farmer City, IL
Farmer City home values range from $12,090 to $772,324. The median estimated value of a home in Farmer City is $129,574.44. The median list price of a home is 232,500, and the total count of properties in the city is 944.
- Pre-ForeclosurePre-foreclosure homes account for 0.32% of all residential properties in Farmer City, IL with 61842 containing 3 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There is 1 zips within Farmer City, IL; of that zips, the estimated home value for pre-foreclosure homes ranges from $169,408 in 61842 to the lowest home value of $59,133 in 61842.
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in Farmer City, IL ranges from the highest value of $93,000 in 61842 to the lowest value of $57,756 in 61842. Bank owned homes and properties account for 0.21% of properties in Farmer City, IL. There is 1 zips within Farmer City, IL; 61842 containing 2 REO properties, has the highest number of bank owned properties in a single zip.
- Auctions61842 has 1 auction properties, the highest number of properties going to auction in a single zip in the state of Farmer City, IL. Auction homes and other auction properties account for 0.11% of all properties in Farmer City, IL. There is 1 zips within Farmer City, IL; of that zips, the median estimated home value for homes going to auction ranges from $95,116 in 61842 to the lowest value of $95,116 in 61842.
Compare Nearby Cities
More Real Estate Resources for Farmer City, IL
Guide for Farmer City, IL
Market report for Springfield, Illinois, with a snapshot of property values, sales activity, price fluctuations, and comparisons with neighboring cities.
A quick analysis of real estate trends in Chicago and its neighboring areas from November 2022 to December 2023.
Are you considering purchasing a foreclosure for your first home? Let’s look potential pitfalls, and essential tips to make an informed decision.
Learn how a short sale can stop the foreclosure process.