Is Waterloo, IL 62298 a buyer’s or seller’s market?

The Waterloo housing market right now

In the three months ending August 31, 2026, 24% of homes in Waterloo, IL 62298 sold above their list price, the typical home went under contract in 46 days and there were 1.4 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 81 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 40%, homes sold more slowly (40 days then) and the median sale price held steady to $337,354. Overall, Waterloo is less competitive than a year ago, which gives buyers more room.

Within Monroe County, homes here sell more slowly than in 80% of the county’s ZIP codes, and sell more often over asking than in 60%. On our competition score, Waterloo ranks #337 of 464 IL ZIP codes with enough sales (score 55 out of 100).

Nearby, buyers who want less competition could look at Renault 62279 (0% sold over asking) or Fults 62244 (20% sold over asking), while Valmeyer 62295 (100% sold over asking) and Columbia 62236 (38% sold over asking) are even more competitive.