Is Erie, IL 61250 a buyer’s or seller’s market?
Erie is a seller’s market. With about 1.6 months of supply and 33% 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 Erie housing market right now
In the three months ending August 31, 2026, 33% of homes in Erie, IL 61250 sold above their list price, the typical home went under contract in 35 days and there were 1.6 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 12 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 38%, homes sold faster (55 days then) and the median sale price fell 33% to $149,935. Overall, Erie is about as competitive as it was a year ago.
Within Whiteside County, homes here sell faster than in 67% of the county’s ZIP codes, and sell more often over asking than in 67%.
Nearby, buyers who want less competition could look at Lyndon 61261 (0% sold over asking) or Prophetstown 61277 (7% sold over asking), while Fenton 61251 (50% sold over asking) is even more competitive.
Run the numbers for 61250
Nearby markets
Albany 61230Seller’s market $121 /sq ftDeer Grove 61243 — /sq ftFenton 61251Seller’s market $171 /sq ftFulton 61252Seller’s market $88 /sq ft Browse all markets →Towns like Erie nearby
Find towns like Erie in other states →Where Erie is
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Questions about Erie real estate
Is Erie a buyer’s or seller’s market?
A seller’s market: there were 1.6 months of supply in Erie, IL 61250 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 Erie?
The typical home went under contract in 35 days in the latest three months.
Do homes in Erie sell over asking?
33% of homes sold above their original list price, and the typical sale closed at 99.3% of the list price.
What are property taxes in Erie?
About 2.04% of a home’s value a year in Whiteside County, or roughly $8,160 on a $400,000 home.
What is the median home price in Erie?
The median sale price was $149,935 in the three months ending August 31, 2026, about $95 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