Is Colfax, IL 61728 a buyer’s or seller’s market?
Colfax is a seller’s market. With about 2.1 months of supply and 0% 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 Colfax housing market right now
In the three months ending August 31, 2026, 0% of homes in Colfax, IL 61728 sold above their list price, the typical home went under contract in 35 days and there were 2.1 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 fell from 80%, homes sold about as fast and the median sale price held steady to $148,936. Overall, Colfax is less competitive than a year ago, which gives buyers more room.
Within McLean County, homes here sell faster than in 71% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Arrowsmith 61722 (100% sold over asking) and Shirley 61772 (100% sold over asking) are even more competitive.
Run the numbers for 61728
Nearby markets
Anchor 61720 $124 /sq ftArrowsmith 61722Seller’s market $114 /sq ftBellflower 61724Seller’s market $182 /sq ftBloomington 61701Seller’s market $114 /sq ft Browse all markets →Towns like Colfax nearby
Find towns like Colfax in other states →Where Colfax is
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Questions about Colfax real estate
Is Colfax a buyer’s or seller’s market?
A seller’s market: there were 2.1 months of supply in Colfax, IL 61728 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 Colfax?
The typical home went under contract in 35 days in the latest three months.
Do homes in Colfax sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 97.2% of the list price.
What are property taxes in Colfax?
About 2.17% of a home’s value a year in McLean County, or roughly $8,680 on a $400,000 home.
What is the median home price in Colfax?
The median sale price was $148,936 in the three months ending August 31, 2026, about $100 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