Is Sherrard, IL 61281 a buyer’s or seller’s market?
Sherrard is a seller’s market. With about 1.2 months of supply and 9% 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 Sherrard housing market right now
In the three months ending August 31, 2026, 9% of homes in Sherrard, IL 61281 sold above their list price, the typical home went under contract in 17 days and there were 1.2 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 11 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 11%, homes sold faster (27 days then) and the median sale price rose 39% to $224,903. Overall, Sherrard is about as competitive as it was a year ago.
Within Mercer County, homes here sell faster than in 56% of the county’s ZIP codes, and sell more often over asking than in 67%.
Nearby, buyers who want less competition could look at Viola 61486 (0% sold over asking) or North Henderson 61466 (0% sold over asking), while Matherville 61263 (100% sold over asking) and Reynolds 61279 (67% sold over asking) are even more competitive.
Run the numbers for 61281
Nearby markets
Aledo 61231Seller’s market $93 /sq ftAlexis 61412Seller’s market $67 /sq ftJoy 61260Seller’s market $44 /sq ftKeithsburg 61442 — /sq ft Browse all markets →Towns like Sherrard nearby
Find towns like Sherrard in other states →Where Sherrard is
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Questions about Sherrard real estate
Is Sherrard a buyer’s or seller’s market?
A seller’s market: there were 1.2 months of supply in Sherrard, IL 61281 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 Sherrard?
The typical home went under contract in 17 days in the latest three months.
Do homes in Sherrard sell over asking?
9% of homes sold above their original list price, and the typical sale closed at 96.8% of the list price.
What are property taxes in Sherrard?
About 1.96% of a home’s value a year in Mercer County, or roughly $7,840 on a $400,000 home.
What is the median home price in Sherrard?
The median sale price was $224,903 in the three months ending August 31, 2026, about $126 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