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PANAMA, IL 62077

Real Estate Market Report  ·  Montgomery County
Balanced Market
January 2026  ·  Source: Realtor.com

Market Overview

Active Listings
2
Pending
1
50% pending ratio
Median Price
$112,450
Average Price
$112,450
Days on Market
7

Market Context

Population: 317  ·  Density: 49.6/mi²  ·  Median household income: $59,643

Typical home value: $62,955  ·  Homeownership: 85.3%

Market Analysis

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

The PANAMA, IL real estate market (62077) currently shows 2 active listings, with 1 pending sales. Homes are averaging 7 days on the market before going under contract.

Whether you are buying or selling in PANAMA, 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 Trends

Inventory & Days on Market

Year over Year

Median & Average Pricing

Year over Year

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

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 19.3 miles — 72 listings ($12,739,768 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
62077Panama, IL 620770.0 mi2$224,900$112,450$112,450
62091Walshville, IL 620915.4 mi1$435,000$435,000$435,000
62049Hillsboro, IL 620497.0 mi18$3,978,360$137,000$221,020
62074New Douglas, IL 6207410.4 mi1$35,284$35,284$35,284
62069Mount Olive, IL 6206912.7 mi15$1,641,675$80,000$109,445
62015Butler, IL 6201513.1 mi1$499,900$499,900$499,900
62058Livingston, IL 6205814.1 mi2$418,900$209,450$209,450
62275Pocahontas, IL 6227515.0 mi4$1,800,000$450,000$450,000
62085Sawyerville, IL 6208515.7 mi1$525,000$525,000$525,000
62009Benld, IL 6200915.7 mi4$283,520$38,500$70,880
62094Witt, IL 6209417.2 mi7$417,200$30,000$59,600
62033Gillespie, IL 6203319.0 mi13$1,800,604$97,000$138,508
62097Worden, IL 6209719.3 mi3$679,425$270,950$226,475

Frequently Asked Questions

How many homes are for sale in PANAMA, IL 62077?

As of January 2026, there are 2 active listings in PANAMA, IL (zip code 62077).

What is the median home price in PANAMA, IL 62077?

The median listing price in PANAMA, IL 62077 is $112,450 as of January 2026.

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

Homes in PANAMA, IL 62077 spend an average of 7 days on the market before going under contract.

Is it a seller's or buyer's market in PANAMA, IL 62077?

Based on current inventory and days-on-market data as of January 2026, PANAMA, IL 62077 is currently a Balanced Market.

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

With SELL123.com's maximum 3% commission, sellers in PANAMA, IL 62077 save an estimated $2,249 compared to a typical 5% commission on the median listing price of $112,450. 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.