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MOUNT CARMEL, IL 62863

Real Estate Market Report  ·  Wabash County
Seller's Market
March 2026  ·  Source: Realtor.com

Market Analysis

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

The MOUNT CARMEL, IL real estate market (62863) currently shows 25 active listings, with 7 pending sales. Homes are averaging 69 days on the market before going under contract.

Inventory has tightened compared to last year, with 3 fewer active listings — creating more competition among buyers.

Homes are selling faster, averaging 69 days on market compared to 80 days last year.

The median listing price has fallen 38.9% year-over-year, from $199,900 to $122,161.

Whether you are buying or selling in MOUNT CARMEL, 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: 9,519  ·  Density: 24.9/mi²  ·  Median household income: $51,771

Typical home value: $93,804  ·  Homeownership: 74.3%

Market Overview

Active Listings
25
⇩ 10.7% vs 28 last year
Pending
7
28% pending ratio
Median Price
$122,161
⇩ 38.9% vs $199,900 last year
Average Price
$180,353
⇩ 17.4% vs $218,400 last year
Days on Market
69
⇩ 13.8% vs 80 days last year

Price Per Square Foot

Median $/sqft
$82
⇩ 10.9% vs $92/sqft last year
Median Home Size
1,326 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 25 this year vs 28 last year
  • Days on market: 69 now vs 80 last year

Median & Average Pricing

Year over Year
  • Median: $122,161 (-38.9% YoY)
  • Average: $180,353 (-17.4% 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 27.1 miles — 207 listings ($60,575,497 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
62863Mount Carmel, IL 628630.0 mi22$4,295,390$139,900$195,245
62476West Salem, IL 6247611.5 mi3$487,425$162,475$162,475
62806Albion, IL 6280612.1 mi9$1,246,905$116,150$138,545
62844Grayville, IL 6284415.3 mi5$438,165$74,900$87,633
47670Princeton, IN 4767015.8 mi33$8,942,670$224,900$270,990
47633Poseyville, IN 4763317.5 mi2$694,900$347,450$347,450
62827Crossville, IL 6282720.0 mi3$403,899$99,900$134,633
47648Fort Branch, IN 4764820.4 mi5$1,323,375$264,675$264,675
62466Sumner, IL 6246621.5 mi7$1,747,767$288,650$249,681
47639Haubstadt, IN 4763922.3 mi10$5,094,900$495,000$509,490
47591Vincennes, IN 4759123.6 mi74$18,199,930$197,425$245,945
47638Wadesville, IN 4763824.3 mi7$2,054,535$297,450$293,505
47720Evansville, IN 4772027.1 mi27$15,645,636$305,000$579,468

Frequently Asked Questions

How many homes are for sale in MOUNT CARMEL, IL 62863?

As of March 2026, there are 25 active listings in MOUNT CARMEL, IL (zip code 62863), compared to 28 the prior year.

What is the median home price in MOUNT CARMEL, IL 62863?

The median listing price in MOUNT CARMEL, IL 62863 is $122,161 as of March 2026, a 38.9% decrease from $199,900 the prior year.

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

Homes in MOUNT CARMEL, IL 62863 spend an average of 69 days on the market before going under contract, compared to 80 days the prior year.

Is it a seller's or buyer's market in MOUNT CARMEL, IL 62863?

Based on current inventory and days-on-market data as of March 2026, MOUNT CARMEL, IL 62863 is currently a Seller's Market. Inventory has tightened compared to last year, with 3 fewer active listings — creating more competition among buyers. Homes are selling faster, averaging 69 days on market compared to 80 days last year.

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

With SELL123.com's maximum 3% commission, sellers in MOUNT CARMEL, IL 62863 save an estimated $2,443 compared to a typical 5% commission on the median listing price of $122,161. 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.