Is Cerro Gordo, IL 61818 a buyer’s or seller’s market?
Cerro Gordo is a balanced market. With about 4.8 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
The Cerro Gordo housing market right now
In the three months ending August 31, 2026, 0% of homes in Cerro Gordo, IL 61818 sold above their list price, the typical home went under contract in 39 days and there were 4.8 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. 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 was about the same (0% then), homes sold more slowly (3 days then) and the median sale price rose 16% to $144,937. Overall, Cerro Gordo is less competitive than a year ago, which gives buyers more room.
Within Piatt County, homes here sell faster than in 75% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Mansfield 61854 (50% sold over asking) and White Heath 61884 (50% sold over asking) are even more competitive.
Run the numbers for 61818
Nearby markets
Atwood 61913Seller’s market $73 /sq ftBement 61813Buyer’s market $94 /sq ftCisco 61830 — /sq ftDe Land 61839 $68 /sq ft Browse all markets →Towns like Cerro Gordo nearby
Find towns like Cerro Gordo in other states →Where Cerro Gordo is
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Questions about Cerro Gordo real estate
Is Cerro Gordo a buyer’s or seller’s market?
A balanced market: there were 4.8 months of supply in Cerro Gordo, IL 61818 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 Cerro Gordo?
The typical home went under contract in 39 days in the latest three months.
Do homes in Cerro Gordo sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 98.1% of the list price.
What are property taxes in Cerro Gordo?
About 1.81% of a home’s value a year in Piatt County, or roughly $7,240 on a $400,000 home.
What is the median home price in Cerro Gordo?
The median sale price was $144,937 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