Is Herrick, IL 62431 a buyer’s or seller’s market?

3 months ending August 31, 2026 · Source: Redfin

Herrick is a balanced market. With about null months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.

Months of supply—Under 4 months = seller’s market

Sold above original list—Share of sales, last 3 months

Median sale-to-list—Sold price ÷ list price

Median days on market—Listing to accepted offer

Median price per sq ft—

The Herrick housing market right now

There haven’t been enough recent sales here for a detailed summary yet.

About the area

Shelby County, IL

Population	717
Median income	$64,904
Average income	$81,257
Median home value	$122,200
Median rent	$625/month
Owner-occupied	91% of homes
Median year built	1985

Natural hazard riskWinter storms (relatively high), earthquakes (moderate), extreme heat (moderate)

Source: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates (household income; home value as estimated by owners), ZIP code tabulation area 62431; hazard risk from the FEMA National Risk Index for the census tracts in this ZIP code (not endorsed by FEMA).

Run the numbers for 62431

Prefilled for 62431Can I win this house?Multiple-offer likelihood for a listing Prefilled for 62431Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Cowden 62422 — /sq ft Findlay 62534Seller’s market $116 /sq ft Mode 62444 $104 /sq ft Moweaqua 62550Buyer’s market $105 /sq ft Browse all markets →

Where Herrick is

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Questions about Herrick real estate

What are property taxes in Herrick?

About 1.50% of a home’s value a year in Shelby County, or roughly $6,000 on a $400,000 home.

Local agents

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More tools for 62431

Competition score Buyer leverage Negotiation room Compare with other ZIP codes True cost to buy Property taxes Closing costs Cash buyers Backup offer odds Home value Shelby County property taxes Shelby County loan limits Closing costs in Illinois Hottest ZIP codes in Illinois

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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology