Is Louisville, IL 62858 a buyer’s or seller’s market?
Louisville is a seller’s market. With about 3.2 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 Louisville housing market right now
In the three months ending August 31, 2026, 0% of homes in Louisville, IL 62858 sold above their list price, the typical home went under contract in 60 days and there were 3.2 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. 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 (122 days then) and the median sale price fell 17% to $72,469. Overall, Louisville is more competitive than a year ago, so tougher for buyers.
Within Clay County, homes here sell faster than in 50% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Xenia 62899 (100% sold over asking) and Flora 62839 (13% sold over asking) are even more competitive.
Run the numbers for 62858
Nearby markets
Clay City 62824Seller’s market $85 /sq ftEdgewood 62426Seller’s market $45 /sq ftFlora 62839Balanced $87 /sq ftXenia 62899Buyer’s market $50 /sq ft Browse all markets →Towns like Louisville nearby
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Questions about Louisville real estate
Is Louisville a buyer’s or seller’s market?
A seller’s market: there were 3.2 months of supply in Louisville, IL 62858 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 Louisville?
The typical home went under contract in 60 days in the latest three months.
Do homes in Louisville sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 85.3% of the list price.
What are property taxes in Louisville?
About 1.43% of a home’s value a year in Clay County, or roughly $5,720 on a $400,000 home.
What is the median home price in Louisville?
The median sale price was $72,469 in the three months ending August 31, 2026, about $40 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