Is Loraine, IL 62349 a buyer’s or seller’s market?
Loraine is a seller’s market. With about 1.1 months of supply and 0% 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 Loraine housing market right now
In the three months ending August 31, 2026, 0% of homes in Loraine, IL 62349 sold above their list price, the typical home went under contract in 43 days and there were 1.1 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 fell from 50%, homes sold more slowly (37 days then) and the median sale price fell 58% to $64,872. Overall, Loraine is less competitive than a year ago, which gives buyers more room.
Within Adams County, homes here sell faster than in 70% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Coatsburg 62325 (33% sold over asking) and Mendon 62351 (33% sold over asking) are even more competitive.
Run the numbers for 62349
Nearby markets
Camp Point 62320Seller’s market $138 /sq ftClayton 62324Buyer’s market $57 /sq ftCoatsburg 62325 $102 /sq ftFowler 62338Balanced $112 /sq ft Browse all markets →Where Loraine is
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Questions about Loraine real estate
Is Loraine a buyer’s or seller’s market?
A seller’s market: there were 1.1 months of supply in Loraine, IL 62349 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 Loraine?
The typical home went under contract in 43 days in the latest three months.
Do homes in Loraine sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 94.2% of the list price.
What are property taxes in Loraine?
About 1.58% of a home’s value a year in Adams County, or roughly $6,320 on a $400,000 home.
What is the median home price in Loraine?
The median sale price was $64,872 in the three months ending August 31, 2026, about $49 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