Is El Paso, IL 61738 a buyer’s or seller’s market?
El Paso is a seller’s market. With about 2.1 months of supply and 17% 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 El Paso housing market right now
In the three months ending August 31, 2026, 17% of homes in El Paso, IL 61738 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. That’s based on 12 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 38%, homes sold faster (40 days then) and the median sale price rose 3% to $243,470. Overall, El Paso is less competitive than a year ago, which gives buyers more room.
Within Woodford County, homes here sell faster than in 56% of the county’s ZIP codes, and sell less often over asking than in 56%.
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 61738
Nearby markets
Benson 61516Buyer’s market $125 /sq ftCarlock 61725Seller’s market $135 /sq ftCongerville 61729 — /sq ftEureka 61530Seller’s market $117 /sq ft Browse all markets →Towns like El Paso nearby
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Questions about El Paso real estate
Is El Paso a buyer’s or seller’s market?
A seller’s market: there were 2.1 months of supply in El Paso, IL 61738 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 El Paso?
The typical home went under contract in 35 days in the latest three months.
Do homes in El Paso sell over asking?
17% of homes sold above their original list price, and the typical sale closed at 98.7% of the list price.
What are property taxes in El Paso?
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 El Paso?
The median sale price was $243,470 in the three months ending August 31, 2026, about $98 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