Is Harvel, IL 62538 a buyer’s or seller’s market?
Harvel 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 Harvel housing market right now
In the three months ending August 31, 2026, 0% of homes in Harvel, IL 62538 sold above their list price, the typical home went under contract in 82 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 1 sale, 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 (102 days then) and the median sale price rose 100% to $39,983. Overall, Harvel is more competitive than a year ago, so tougher for buyers.
Within Montgomery County, homes here sell more slowly than in 78% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Coffeen 62017 (100% sold over asking) and Panama 62077 (50% sold over asking) are even more competitive.
Run the numbers for 62538
Nearby markets
Coffeen 62017 $136 /sq ftFarmersville 62533 — /sq ftHillsboro 62049Seller’s market $96 /sq ftIrving 62051Buyer’s market $91 /sq ft Browse all markets →Where Harvel is
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Questions about Harvel real estate
Is Harvel a buyer’s or seller’s market?
A buyer’s market: there were 6.4 months of supply in Harvel, IL 62538 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 Harvel?
The typical home went under contract in 82 days in the latest three months.
Do homes in Harvel sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 100.0% of the list price.
What are property taxes in Harvel?
About 1.68% of a home’s value a year in Montgomery County, or roughly $6,720 on a $400,000 home.
What is the median home price in Harvel?
The median sale price was $39,983 in the three months ending August 31, 2026.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology