Is Tolono, IL 61880 a buyer’s or seller’s market?
Tolono is a seller’s market. With about 1.6 months of supply and 21% 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 Tolono housing market right now
In the three months ending August 31, 2026, 21% of homes in Tolono, IL 61880 sold above their list price, the typical home went under contract in 44 days and there were 1.6 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 14 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 50%, homes sold more slowly (20 days then) and the median sale price rose 1% to $224,903. Overall, Tolono is less competitive than a year ago, which gives buyers more room.
Within Champaign County, homes here sell faster than in 67% of the county’s ZIP codes, and sell less often over asking than in 54%.
Nearby, buyers who want less competition could look at Thomasboro 61878 (0% sold over asking) or Philo 61864 (0% sold over asking), while Dewey 61840 (100% sold over asking) and Fisher 61843 (67% sold over asking) are even more competitive.
Run the numbers for 61880
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 →Towns like Tolono nearby
Find towns like Tolono in other states →Where Tolono is
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Questions about Tolono real estate
Is Tolono a buyer’s or seller’s market?
A seller’s market: there were 1.6 months of supply in Tolono, IL 61880 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 Tolono?
The typical home went under contract in 44 days in the latest three months.
Do homes in Tolono sell over asking?
21% of homes sold above their original list price, and the typical sale closed at 96.1% of the list price.
What are property taxes in Tolono?
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 Tolono?
The median sale price was $224,903 in the three months ending August 31, 2026, about $147 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