Is Troy, IL 62294 a buyer’s or seller’s market?

The Troy housing market right now

In the three months ending August 31, 2026, 44% of homes in Troy, IL 62294 sold above their list price, the typical home went under contract in 32 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. That’s based on 59 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 31%, homes sold faster (37 days then) and the median sale price rose 6% to $389,831. Overall, Troy is more competitive than a year ago, so tougher for buyers.

Within Madison County, homes here sell faster than in 68% of the county’s ZIP codes, and sell more often over asking than in 68%. On our competition score, Troy ranks #90 of 464 IL ZIP codes with enough sales (score 79 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.