Is Magnolia, IL 61336 a buyer’s or seller’s market?
Magnolia is a seller’s market. With about 1.1 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 Magnolia housing market right now
In the three months ending August 31, 2026, 33% of homes in Magnolia, IL 61336 sold above their list price, the typical home went under contract in 46 days and there were 1.1 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 3 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking rose from 0%, homes sold faster (51 days then) and the median sale price rose 121% to $264,885. Overall, Magnolia is more competitive than a year ago, so tougher for buyers.
Within Putnam County, homes here sell faster than in 80% of the county’s ZIP codes, and sell more often over asking than in any other ZIP code in the county.
Nearby, buyers who want less competition could look at Standard 61363 (0% sold over asking) or Mc Nabb 61335 (0% sold over asking).
Run the numbers for 61336
Nearby markets
Granville 61326Seller’s market $117 /sq ftHennepin 61327Seller’s market $132 /sq ftMark 61340 — /sq ftMc Nabb 61335Seller’s market $99 /sq ft Browse all markets →Where Magnolia is
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Questions about Magnolia real estate
Is Magnolia a buyer’s or seller’s market?
A seller’s market: there were 1.1 months of supply in Magnolia, IL 61336 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 Magnolia?
The typical home went under contract in 46 days in the latest three months.
Do homes in Magnolia sell over asking?
33% of homes sold above their original list price, and the typical sale closed at 98.4% of the list price.
What are property taxes in Magnolia?
About 1.57% of a home’s value a year in Putnam County, or roughly $6,280 on a $400,000 home.
What is the median home price in Magnolia?
The median sale price was $264,885 in the three months ending August 31, 2026, about $142 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