Is Neoga, IL 62447 a buyer’s or seller’s market?
Neoga is a seller’s market. With about 2.7 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 Neoga housing market right now
In the three months ending August 31, 2026, 0% of homes in Neoga, IL 62447 sold above their list price, the typical home went under contract in 28 days and there were 2.7 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 6 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 9%, homes sold about as fast and the median sale price fell 23% to $158,431. Overall, Neoga is less competitive than a year ago, which gives buyers more room.
Nearby, Toledo 62468 (25% sold over asking) is even more competitive.
Run the numbers for 62447
Nearby markets
Greenup 62428Seller’s market $105 /sq ftJewett 62436 — /sq ftToledo 62468Balanced $92 /sq ftTrilla 62469 $110 /sq ft Browse all markets →Towns like Neoga nearby
Find towns like Neoga in other states →Where Neoga is
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Questions about Neoga real estate
Is Neoga a buyer’s or seller’s market?
A seller’s market: there were 2.7 months of supply in Neoga, IL 62447 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 Neoga?
The typical home went under contract in 28 days in the latest three months.
Do homes in Neoga sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 92.7% of the list price.
What are property taxes in Neoga?
About 1.59% of a home’s value a year in Cumberland County, or roughly $6,360 on a $400,000 home.
What is the median home price in Neoga?
The median sale price was $158,431 in the three months ending August 31, 2026, about $151 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