Is Putnam, IL 61560 a buyer’s or seller’s market?
Putnam is a balanced market. With about 4.8 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
The Putnam housing market right now
In the three months ending August 31, 2026, 10% of homes in Putnam, IL 61560 sold above their list price, the typical home went under contract in 98 days and there were 4.8 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 10 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 0%, homes sold more slowly (69 days then) and the median sale price fell 41% to $190,418. Overall, Putnam is about as competitive as it was a year ago.
Within Putnam County, homes here sell more slowly than in any other ZIP code in the county, and sell more often over asking than in 60%.
Nearby, buyers who want less competition could look at Standard 61363 (0% sold over asking) or Mc Nabb 61335 (0% sold over asking), while Magnolia 61336 (33% sold over asking) and Granville 61326 (17% sold over asking) are even more competitive.
Run the numbers for 61560
Nearby markets
Granville 61326Seller’s market $117 /sq ftHennepin 61327Seller’s market $132 /sq ftMagnolia 61336Seller’s market $142 /sq ftMark 61340 — /sq ft Browse all markets →Where Putnam is
Loading map…
Questions about Putnam real estate
Is Putnam a buyer’s or seller’s market?
A balanced market: there were 4.8 months of supply in Putnam, IL 61560 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 Putnam?
The typical home went under contract in 98 days in the latest three months.
Do homes in Putnam sell over asking?
10% of homes sold above their original list price, and the typical sale closed at 97.8% of the list price.
What are property taxes in Putnam?
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 Putnam?
The median sale price was $190,418 in the three months ending August 31, 2026, about $140 per square foot.
Local agents
See all agents in 61560 →No sponsored agents in 61560 yet. Are you an agent here? Put your name in front of local buyers.
More tools for 61560
Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology