Is Granite City, IL 62040 a buyer’s or seller’s market?

The Granite City housing market right now

In the three months ending August 31, 2026, 34% of homes in Granite City, IL 62040 sold above their list price, the typical home went under contract in 32 days and there were 2.5 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 163 home sales.

Compared with the same period a year earlier, the share selling over asking was about the same (34% then), homes sold about as fast and the median sale price rose 4% to $145,387. Overall, Granite City is about as competitive as it was a year ago.

Within Madison County, homes here sell faster than in 68% of the county’s ZIP codes, and sell less often over asking than in 52%. On our competition score, Granite City ranks #181 of 464 IL ZIP codes with enough sales (score 71 out of 100).

Nearby, buyers who want less competition could look at Venice 62090 (0% sold over asking) or New Douglas 62074 (0% sold over asking), while Saint Jacob 62281 (80% sold over asking) and Cottage Hills 62018 (63% sold over asking) are even more competitive.