Is Effingham, IL 62401 a buyer’s or seller’s market?

The Effingham housing market right now

In the three months ending August 31, 2026, 21% of homes in Effingham, IL 62401 sold above their list price, the typical home went under contract in 25 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 73 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 18%, homes sold faster (31 days then) and the median sale price held steady to $239,896. Overall, Effingham is more competitive than a year ago, so tougher for buyers.

Within Effingham County, homes here sell faster than in 50% of the county’s ZIP codes, and sell more often over asking than in 67%. On our competition score, Effingham ranks #327 of 464 IL ZIP codes with enough sales (score 56 out of 100).

Nearby, buyers who want less competition could look at Shumway 62461 (0% sold over asking) or Mason 62443 (0% sold over asking), while Watson 62473 (100% sold over asking) and Teutopolis 62467 (29% sold over asking) are even more competitive.