Is Gerlaw, IL 61435 a buyer’s or seller’s market?
Gerlaw is a balanced market. With about null months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
The Gerlaw housing market right now
In the three months ending August 31, 2026, 100% of homes in Gerlaw, IL 61435 sold above their list price and the typical home went under contract in 3 days. With only 1 sale, 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 (100% then), homes sold faster (5 days then) and the median sale price fell 74% to $119,948. Overall, Gerlaw is about as competitive as it was a year ago.
Nearby, buyers who want less competition could look at Roseville 61473 (0% sold over asking) or Kirkwood 61447 (0% sold over asking).
Run the numbers for 61435
Nearby markets
Kirkwood 61447Seller’s market $117 /sq ftMonmouth 61462Balanced $92 /sq ftRoseville 61473Balanced $69 /sq ft Browse all markets →Where Gerlaw is
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Questions about Gerlaw real estate
How fast do homes sell in Gerlaw?
The typical home went under contract in 3 days in the latest three months.
Do homes in Gerlaw sell over asking?
100% of homes sold above their original list price, and the typical sale closed at 104.3% of the list price.
What are property taxes in Gerlaw?
About 1.81% of a home’s value a year in Warren County, or roughly $7,240 on a $400,000 home.
What is the median home price in Gerlaw?
The median sale price was $119,948 in the three months ending August 31, 2026, about $104 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