Is Topeka, IL 61567 a buyer’s or seller’s market?
Topeka is a seller’s market. With about 3.2 months of supply and 100% 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 Topeka housing market right now
In the three months ending August 31, 2026, 100% of homes in Topeka, IL 61567 sold above their list price, the typical home went under contract in 5 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 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 rose from 0%, homes sold faster (22 days then) and the median sale price fell 67% to $84,963. Overall, Topeka is more competitive than a year ago, so tougher for buyers.
Within Mason County, homes here sell faster than in 75% of the county’s ZIP codes, and sell more often over asking than in any other ZIP code in the county.
Nearby, buyers who want less competition could look at San Jose 62682 (0% sold over asking) or Easton 62633 (0% sold over asking).
Run the numbers for 61567
Nearby markets
Bath 62617 — /sq ftEaston 62633 $54 /sq ftForest City 61532 — /sq ftHavana 62644Balanced $82 /sq ft Browse all markets →Where Topeka is
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Questions about Topeka real estate
Is Topeka a buyer’s or seller’s market?
A seller’s market: there were 3.2 months of supply in Topeka, IL 61567 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 Topeka?
The typical home went under contract in 5 days in the latest three months.
Do homes in Topeka sell over asking?
100% of homes sold above their original list price, and the typical sale closed at 107.6% of the list price.
What are property taxes in Topeka?
About 2.09% of a home’s value a year in Mason County, or roughly $8,360 on a $400,000 home.
What is the median home price in Topeka?
The median sale price was $84,963 in the three months ending August 31, 2026, about $62 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