Is Penfield, IL 61862 a buyer’s or seller’s market?

3 months ending August 31, 2026 · Source: Redfin

Penfield is a balanced market. With about null months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.

Months of supply—Under 4 months = seller’s market

Sold above original list—Share of sales, last 3 months

Median sale-to-list—Sold price ÷ list price

Median days on market—Listing to accepted offer

Median price per sq ft—

The Penfield housing market right now

There haven’t been enough recent sales here for a detailed summary yet.

About the area

Champaign County, IL

Population	581
Median income	$114,250
Average income	$113,926
Median home value	$121,600
Median rent	$825/month
Owner-occupied	84% of homes
Median year built	1958

Natural hazard riskTornadoes (relatively high), winter storms (relatively high), extreme heat (moderate)

Source: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates (household income; home value as estimated by owners), ZIP code tabulation area 61862; hazard risk from the FEMA National Risk Index for the census tracts in this ZIP code (not endorsed by FEMA).

Run the numbers for 61862

Prefilled for 61862Can I win this house?Multiple-offer likelihood for a listing Prefilled for 61862Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Bondville 61815Seller’s market $133 /sq ft Broadlands 61816Seller’s market $128 /sq ft Champaign 61820Seller’s market $153 /sq ft Champaign 61821Seller’s market $162 /sq ft Browse all markets →

Where Penfield is

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Questions about Penfield real estate

What are property taxes in Penfield?

About 2.06% of a home’s value a year in Champaign County, or roughly $8,240 on a $400,000 home.

Local agents

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More tools for 61862

Competition score Buyer leverage Negotiation room Compare with other ZIP codes True cost to buy Property taxes Closing costs Cash buyers Backup offer odds Home value Champaign County property taxes Champaign County loan limits Closing costs in Illinois Hottest ZIP codes in Illinois

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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology