Is Farmington, IL 61531 a buyer’s or seller’s market?

The Farmington housing market right now

In the three months ending August 31, 2026, 17% of homes in Farmington, IL 61531 sold above their list price, the typical home went under contract in 14 days and there were 3.2 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 6 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 10%, homes sold faster (52 days then) and the median sale price rose 72% to $228,151. Overall, Farmington is more competitive than a year ago, so tougher for buyers.

Within Fulton County, homes here sell faster than in 91% of the county’s ZIP codes, and sell more often over asking than in 82%.

Nearby, buyers who want less competition could look at Saint David 61563 (0% sold over asking) or Dunfermline 61524 (0% sold over asking), while Canton 61520 (25% sold over asking) is even more competitive.