Is Palmyra, IL 62674 a buyer’s or seller’s market?
Palmyra is a seller’s market. With about 2.6 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 Palmyra housing market right now
In the three months ending August 31, 2026, 0% of homes in Palmyra, IL 62674 sold above their list price, the typical home went under contract in 41 days and there were 2.6 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 5 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 more slowly (3 days then) and the median sale price fell 49% to $128,344. Overall, Palmyra is less competitive than a year ago, which gives buyers more room.
Within Macoupin County, homes here sell faster than in 73% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Wilsonville 62093 (67% sold over asking) and Staunton 62088 (38% sold over asking) are even more competitive.
Run the numbers for 62674
Nearby markets
Benld 62009Buyer’s market $95 /sq ftBunker Hill 62014Seller’s market $128 /sq ftCarlinville 62626Seller’s market $92 /sq ftChesterfield 62630 — /sq ft Browse all markets →Towns like Palmyra nearby
Find towns like Palmyra in other states →Where Palmyra is
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Questions about Palmyra real estate
Is Palmyra a buyer’s or seller’s market?
A seller’s market: there were 2.6 months of supply in Palmyra, IL 62674 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 Palmyra?
The typical home went under contract in 41 days in the latest three months.
Do homes in Palmyra sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 92.3% of the list price.
What are property taxes in Palmyra?
About 1.50% of a home’s value a year in Macoupin County, or roughly $6,000 on a $400,000 home.
What is the median home price in Palmyra?
The median sale price was $128,344 in the three months ending August 31, 2026, about $94 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