Is Benson, IL 61516 a buyer’s or seller’s market?
Benson 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 Benson housing market right now
In the three months ending August 31, 2026, 0% of homes in Benson, IL 61516 sold above their list price, the typical home went under contract in 82 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 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 fell from 25%, homes sold more slowly (52 days then) and the median sale price fell 15% to $125,946. Overall, Benson is less competitive than a year ago, which gives buyers more room.
Within Woodford County, homes here sell more slowly, and less often over asking, than in any other ZIP code in the county.
Nearby, Secor 61771 (50% sold over asking) and Washburn 61570 (38% sold over asking) are even more competitive.
Run the numbers for 61516
Nearby markets
Carlock 61725Seller’s market $135 /sq ftCongerville 61729 — /sq ftEl Paso 61738Seller’s market $98 /sq ftEureka 61530Seller’s market $117 /sq ft Browse all markets →Where Benson is
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Questions about Benson real estate
Is Benson a buyer’s or seller’s market?
A buyer’s market: there were 6.4 months of supply in Benson, IL 61516 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 Benson?
The typical home went under contract in 82 days in the latest three months.
Do homes in Benson sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 93.3% of the list price.
What are property taxes in Benson?
About 2.13% of a home’s value a year in Woodford County, or roughly $8,520 on a $400,000 home.
What is the median home price in Benson?
The median sale price was $125,946 in the three months ending August 31, 2026, about $125 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