Is Colchester, IL 62326 a buyer’s or seller’s market?
Colchester is a seller’s market. With about 2.1 months of supply and 33% 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 Colchester housing market right now
In the three months ending August 31, 2026, 33% of homes in Colchester, IL 62326 sold above their list price, the typical home went under contract in 63 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 3 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 20%, homes sold more slowly (53 days then) and the median sale price rose 16% to $84,963. Overall, Colchester is more competitive than a year ago, so tougher for buyers.
Within McDonough County, homes here sell more slowly than in 80% of the county’s ZIP codes, and sell more often over asking than in any other ZIP code in the county.
Nearby, buyers who want less competition could look at Sciota 61475 (0% sold over asking) or Good Hope 61438 (0% sold over asking).
Run the numbers for 62326
Nearby markets
Adair 61411 — /sq ftBlandinsville 61420Balanced $76 /sq ftBushnell 61422Buyer’s market $76 /sq ftGood Hope 61438Seller’s market $63 /sq ft Browse all markets →Towns like Colchester nearby
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Questions about Colchester real estate
Is Colchester a buyer’s or seller’s market?
A seller’s market: there were 2.1 months of supply in Colchester, IL 62326 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 Colchester?
The typical home went under contract in 63 days in the latest three months.
Do homes in Colchester sell over asking?
33% of homes sold above their original list price, and the typical sale closed at 101.4% of the list price.
What are property taxes in Colchester?
About 2.13% of a home’s value a year in McDonough County, or roughly $8,520 on a $400,000 home.
What is the median home price in Colchester?
The median sale price was $84,963 in the three months ending August 31, 2026, about $81 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