Is Paw Paw, IL 61353 a buyer’s or seller’s market?
Paw Paw is a buyer’s market. With about 6.4 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The Paw Paw housing market right now
In the three months ending August 31, 2026, 0% of homes in Paw Paw, IL 61353 sold above their list price, the typical home went under contract in 41 days and there were 6.4 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 4 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking fell from 29%, homes sold faster (63 days then) and the median sale price rose 26% to $224,903. Overall, Paw Paw is less competitive than a year ago, which gives buyers more room.
Within Lee County, homes here sell faster 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, Dixon 61021 (31% sold over asking) and Steward 60553 (20% sold over asking) are even more competitive.
Run the numbers for 61353
Nearby markets
Amboy 61310Seller’s market $113 /sq ftAshton 61006Seller’s market $107 /sq ftCompton 61318Seller’s market $220 /sq ftDixon 61021Seller’s market $126 /sq ft Browse all markets →Towns like Paw Paw nearby
Find towns like Paw Paw in other states →Where Paw Paw is
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Questions about Paw Paw real estate
Is Paw Paw a buyer’s or seller’s market?
A buyer’s market: there were 6.4 months of supply in Paw Paw, IL 61353 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 Paw Paw?
The typical home went under contract in 41 days in the latest three months.
Do homes in Paw Paw sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 99.0% of the list price.
What are property taxes in Paw Paw?
About 1.97% of a home’s value a year in Lee County, or roughly $7,880 on a $400,000 home.
What is the median home price in Paw Paw?
The median sale price was $224,903 in the three months ending August 31, 2026, about $200 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