Is Gilman, IL 60938 a buyer’s or seller’s market?
Gilman is a seller’s market. With about 2.6 months of supply and 0% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
The Gilman housing market right now
In the three months ending August 31, 2026, 0% of homes in Gilman, IL 60938 sold above their list price, the typical home went under contract in 43 days and there were 2.6 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 10 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 29%, homes sold faster (58 days then) and the median sale price fell 13% to $152,384. Overall, Gilman is less competitive than a year ago, which gives buyers more room.
Within Iroquois County, homes here sell faster than in 77% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Buckley 60918 (50% sold over asking) and Milford 60953 (50% sold over asking) are even more competitive.
Run the numbers for 60938
Nearby markets
Ashkum 60911Seller’s market $91 /sq ftBeaverville 60912 — /sq ftBuckley 60918Buyer’s market $78 /sq ftCissna Park 60924Balanced $94 /sq ft Browse all markets →Towns like Gilman nearby
Find towns like Gilman in other states →Where Gilman is
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Questions about Gilman real estate
Is Gilman a buyer’s or seller’s market?
A seller’s market: there were 2.6 months of supply in Gilman, IL 60938 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 Gilman?
The typical home went under contract in 43 days in the latest three months.
Do homes in Gilman sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 97.5% of the list price.
What are property taxes in Gilman?
About 1.82% of a home’s value a year in Iroquois County, or roughly $7,280 on a $400,000 home.
What is the median home price in Gilman?
The median sale price was $152,384 in the three months ending August 31, 2026, about $145 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