Is Dewey, IL 61840 a buyer’s or seller’s market?
Dewey is a buyer’s market. With about 9.6 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The Dewey housing market right now
In the three months ending August 31, 2026, 100% of homes in Dewey, IL 61840 sold above their list price, the typical home went under contract in 52 days and there were 9.6 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 1 sale, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking rose from 50%, homes sold more slowly (31 days then) and the median sale price rose 32% to $774,665. Overall, Dewey is more competitive than a year ago, so tougher for buyers.
Within Champaign County, homes here sell more slowly than in 67% of the county’s ZIP codes, and sell more often over asking than in any other ZIP code in the county.
Nearby, buyers who want less competition could look at Thomasboro 61878 (0% sold over asking) or Philo 61864 (0% sold over asking).
Run the numbers for 61840
Nearby markets
Bondville 61815Seller’s market $133 /sq ftBroadlands 61816Seller’s market $128 /sq ftChampaign 61820Seller’s market $153 /sq ftChampaign 61821Seller’s market $162 /sq ft Browse all markets →Where Dewey is
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Questions about Dewey real estate
Is Dewey a buyer’s or seller’s market?
A buyer’s market: there were 9.6 months of supply in Dewey, IL 61840 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 Dewey?
The typical home went under contract in 52 days in the latest three months.
Do homes in Dewey sell over asking?
100% of homes sold above their original list price, and the typical sale closed at 101.3% of the list price.
What are property taxes in Dewey?
About 2.06% of a home’s value a year in Champaign County, or roughly $8,240 on a $400,000 home.
What is the median home price in Dewey?
The median sale price was $774,665 in the three months ending August 31, 2026, about $251 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