Is Flanagan, IL 61740 a buyer’s or seller’s market?
Flanagan is a seller’s market. With about 2.7 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 Flanagan housing market right now
In the three months ending August 31, 2026, 0% of homes in Flanagan, IL 61740 sold above their list price, the typical home went under contract in 67 days and there were 2.7 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 7 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold faster (85 days then) and the median sale price fell 30% to $134,942. Overall, Flanagan is more competitive than a year ago, so tougher for buyers.
Within Livingston County, homes here sell more slowly, and less often over asking, than in any other ZIP code in the county.
Nearby, Dwight 60420 (33% sold over asking) and Cornell 61319 (33% sold over asking) are even more competitive.
Run the numbers for 61740
Nearby markets
Ancona 61311 — /sq ftBlackstone 61313 — /sq ftChatsworth 60921Buyer’s market $83 /sq ftCornell 61319Balanced $114 /sq ft Browse all markets →Towns like Flanagan nearby
Find towns like Flanagan in other states →Where Flanagan is
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Questions about Flanagan real estate
Is Flanagan a buyer’s or seller’s market?
A seller’s market: there were 2.7 months of supply in Flanagan, IL 61740 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 Flanagan?
The typical home went under contract in 67 days in the latest three months.
Do homes in Flanagan sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 93.7% of the list price.
What are property taxes in Flanagan?
About 2.05% of a home’s value a year in Livingston County, or roughly $8,200 on a $400,000 home.
What is the median home price in Flanagan?
The median sale price was $134,942 in the three months ending August 31, 2026, about $86 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