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FARMINGTON, IL 61531

Real Estate Market Report
Balanced Market
March 2026  ·  Source: Realtor.com

Market Analysis

Data as of March 2026. Source: Realtor.com.

The FARMINGTON, IL real estate market (61531) currently shows 9 active listings, with 4 pending sales. Homes are averaging 35 days on the market before going under contract.

Inventory has increased compared to last year, with 6 more homes available — giving buyers more choice.

Homes are selling faster, averaging 35 days on market compared to 67 days last year.

The median listing price has fallen 38.8% year-over-year, from $182,150 to $111,500.

Whether you are buying or selling in FARMINGTON, IL, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Context

Market Context

Population: 3,144  ·  Density: 21.5/mi²  ·  Median household income: $63,276

Typical home value: $115,630  ·  Homeownership: 78.1%

Market Overview

Active Listings
9
⇧ 200% vs 3 last year
Pending
4
44% pending ratio
Median Price
$111,500
⇩ 38.8% vs $182,150 last year
Average Price
$222,640
⇧ 22.1% vs $182,300 last year
Days on Market
35
⇩ 47.8% vs 67 days last year

Price Per Square Foot

Median $/sqft
$83
⇩ 20.2% vs $104/sqft last year
Median Home Size
1,886 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 9 this year vs 3 last year
  • Days on market: 35 now vs 67 last year

Median & Average Pricing

Year over Year
  • Median: $111,500 (-38.8% YoY)
  • Average: $222,640 (+22.1% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 20.7 miles — 120 listings ($19,266,749 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
61531Farmington, IL 615310.0 mi7$1,703,786$113,000$243,398
61572Yates City, IL 615727.9 mi2$207,400$103,700$103,700
61520Canton, IL 615209.8 mi73$8,720,580$96,800$119,460
61533Glasford, IL 6153312.2 mi4$599,600$149,450$149,900
61563Saint David, IL 6156313.1 mi2$170,000$85,000$85,000
61431Ellisville, IL 6143113.9 mi2$99,800$49,900$49,900
61436Gilson, IL 6143615.6 mi1$117,500$117,500$117,500
61547Mapleton, IL 6154716.4 mi6$1,948,428$288,175$324,738
61528Edwards, IL 6152817.5 mi8$3,211,400$449,900$401,425
61451Laura, IL 6145118.6 mi1$425,999$425,999$425,999
61477Smithfield, IL 6147719.6 mi0$0$99,900$99,900
61546Manito, IL 6154620.1 mi7$958,650$126,450$136,950
61415Avon, IL 6141520.7 mi7$1,103,606$79,950$157,658

Frequently Asked Questions

How many homes are for sale in FARMINGTON, IL 61531?

As of March 2026, there are 9 active listings in FARMINGTON, IL (zip code 61531), compared to 3 the prior year.

What is the median home price in FARMINGTON, IL 61531?

The median listing price in FARMINGTON, IL 61531 is $111,500 as of March 2026, a 38.8% decrease from $182,150 the prior year.

How long do homes stay on the market in FARMINGTON, IL?

Homes in FARMINGTON, IL 61531 spend an average of 35 days on the market before going under contract, compared to 67 days the prior year.

Is it a seller's or buyer's market in FARMINGTON, IL 61531?

Based on current inventory and days-on-market data as of March 2026, FARMINGTON, IL 61531 is currently a Balanced Market. Inventory has increased compared to last year, with 6 more homes available — giving buyers more choice. Homes are selling faster, averaging 35 days on market compared to 67 days last year.

How much can I save on real estate commission in FARMINGTON, IL?

With SELL123.com's maximum 3% commission, sellers in FARMINGTON, IL 61531 save an estimated $2,230 compared to a typical 5% commission on the median listing price of $111,500. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.