Is Elizabeth, IL 61028 a buyer’s or seller’s market?
Elizabeth is a buyer’s market. With about 7 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The Elizabeth housing market right now
In the three months ending August 31, 2026, 0% of homes in Elizabeth, IL 61028 sold above their list price, the typical home went under contract in 44 days and there were 7 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 5 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold more slowly (9 days then) and the median sale price fell 33% to $174,924. Overall, Elizabeth is less competitive than a year ago, which gives buyers more room.
Within Jo Daviess County, homes here sell more slowly than in 71% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Hanover 61041 (33% sold over asking) and East Dubuque 61025 (18% sold over asking) are even more competitive.
Run the numbers for 61028
Nearby markets
Apple River 61001Seller’s market $182 /sq ftEast Dubuque 61025Seller’s market $126 /sq ftGalena 61036Balanced $178 /sq ftHanover 61041Buyer’s market $112 /sq ft Browse all markets →Towns like Elizabeth nearby
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Questions about Elizabeth real estate
Is Elizabeth a buyer’s or seller’s market?
A buyer’s market: there were 7 months of supply in Elizabeth, IL 61028 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 Elizabeth?
The typical home went under contract in 44 days in the latest three months.
Do homes in Elizabeth sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 98.3% of the list price.
What are property taxes in Elizabeth?
About 1.72% of a home’s value a year in Jo Daviess County, or roughly $6,880 on a $400,000 home.
What is the median home price in Elizabeth?
The median sale price was $174,924 in the three months ending August 31, 2026, about $118 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