Is Roanoke, IL 61561 a buyer’s or seller’s market?
Roanoke is a seller’s market. With about 1.3 months of supply and 25% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
The Roanoke housing market right now
In the three months ending August 31, 2026, 25% of homes in Roanoke, IL 61561 sold above their list price, the typical home went under contract in 28 days and there were 1.3 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 12 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 14%, homes sold more slowly (3 days then) and the median sale price fell 4% to $163,429. Overall, Roanoke is about as competitive as it was a year ago.
Within Woodford County, homes here sell faster than in 89% of the county’s ZIP codes, and sell more often over asking than in 67%.
Nearby, buyers who want less competition could look at Minonk 61760 (0% sold over asking) or Goodfield 61742 (0% sold over asking), while Secor 61771 (50% sold over asking) and Washburn 61570 (38% sold over asking) are even more competitive.
Run the numbers for 61561
Nearby markets
Benson 61516Buyer’s market $125 /sq ftCarlock 61725Seller’s market $135 /sq ftCongerville 61729 — /sq ftEl Paso 61738Seller’s market $98 /sq ft Browse all markets →Towns like Roanoke nearby
Find towns like Roanoke in other states →Where Roanoke is
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Questions about Roanoke real estate
Is Roanoke a buyer’s or seller’s market?
A seller’s market: there were 1.3 months of supply in Roanoke, IL 61561 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 Roanoke?
The typical home went under contract in 28 days in the latest three months.
Do homes in Roanoke sell over asking?
25% of homes sold above their original list price, and the typical sale closed at 98.8% of the list price.
What are property taxes in Roanoke?
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 Roanoke?
The median sale price was $163,429 in the three months ending August 31, 2026, about $107 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