Is Towanda, IL 61776 a buyer’s or seller’s market?
Towanda is a seller’s market. With about 3.2 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 Towanda housing market right now
In the three months ending August 31, 2026, 0% of homes in Towanda, IL 61776 sold above their list price, the typical home went under contract in 50 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 2 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 43%, homes sold more slowly (32 days then) and the median sale price fell 17% to $227,402. Overall, Towanda is less competitive than a year ago, which gives buyers more room.
Within McLean County, homes here sell more slowly than in 76% 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 61776
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 Towanda nearby
Find towns like Towanda in other states →Where Towanda is
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Questions about Towanda real estate
Is Towanda a buyer’s or seller’s market?
A seller’s market: there were 3.2 months of supply in Towanda, IL 61776 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 Towanda?
The typical home went under contract in 50 days in the latest three months.
Do homes in Towanda sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 95.5% of the list price.
What are property taxes in Towanda?
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 Towanda?
The median sale price was $227,402 in the three months ending August 31, 2026, about $177 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