Is Madison, IL 62060 a buyer’s or seller’s market?
Madison is a seller’s market. With about 2.1 months of supply and 17% 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 Madison housing market right now
In the three months ending August 31, 2026, 17% of homes in Madison, IL 62060 sold above their list price, the typical home went under contract in 81 days and there were 2.1 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 6 sales, 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 0%, homes sold more slowly (71 days then) and the median sale price rose 95% to $116,783. Overall, Madison is more competitive than a year ago, so tougher for buyers.
Within Madison County, homes here sell more slowly than in any other ZIP code in the county, and sell less often over asking than in 88%.
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.
Run the numbers for 62060
Nearby markets
Alhambra 62001Seller’s market $118 /sq ftAlton 62002Seller’s market $107 /sq ftBethalto 62010Seller’s market $141 /sq ftCollinsville 62234Seller’s market $127 /sq ft Browse all markets →Towns like Madison nearby
Find towns like Madison in other states →Where Madison is
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Questions about Madison real estate
Is Madison a buyer’s or seller’s market?
A seller’s market: there were 2.1 months of supply in Madison, IL 62060 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 Madison?
The typical home went under contract in 81 days in the latest three months.
Do homes in Madison sell over asking?
17% of homes sold above their original list price, and the typical sale closed at 96.4% of the list price.
What are property taxes in Madison?
About 1.92% of a home’s value a year in Madison County, or roughly $7,680 on a $400,000 home.
What is the median home price in Madison?
The median sale price was $116,783 in the three months ending August 31, 2026, about $71 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