Is Shumway, IL 62461 a buyer’s or seller’s market?
Shumway is a buyer’s market. With about 6.4 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The Shumway housing market right now
In the three months ending August 31, 2026, 0% of homes in Shumway, IL 62461 sold above their list price, the typical home went under contract in 15 days and there were 6.4 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 2 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold faster (70 days then) and the median sale price fell 16% to $324,859. Overall, Shumway is more competitive than a year ago, so tougher for buyers.
Within Effingham County, homes here sell faster than in 83% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Watson 62473 (100% sold over asking) and Teutopolis 62467 (29% sold over asking) are even more competitive.
Run the numbers for 62461
Nearby markets
Altamont 62411Seller’s market $131 /sq ftDieterich 62424Seller’s market $142 /sq ftEffingham 62401Seller’s market $140 /sq ftMason 62443 $104 /sq ft Browse all markets →Where Shumway is
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Questions about Shumway real estate
Is Shumway a buyer’s or seller’s market?
A buyer’s market: there were 6.4 months of supply in Shumway, IL 62461 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 Shumway?
The typical home went under contract in 15 days in the latest three months.
Do homes in Shumway sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 99.1% of the list price.
What are property taxes in Shumway?
About 1.49% of a home’s value a year in Effingham County, or roughly $5,960 on a $400,000 home.
What is the median home price in Shumway?
The median sale price was $324,859 in the three months ending August 31, 2026, about $121 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