Is Raleigh, IL 62977 a buyer’s or seller’s market?
Raleigh is a seller’s market. With about 1.6 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 Raleigh housing market right now
In the three months ending August 31, 2026, 0% of homes in Raleigh, IL 62977 sold above their list price, the typical home went under contract in 48 days and there were 1.6 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 2 sales, these figures can swing a lot from month to month.
Within Saline County, homes here sell faster than in 75% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Galatia 62935 (50% sold over asking) and Harrisburg 62946 (14% sold over asking) are even more competitive.
Run the numbers for 62977
Nearby markets
Carrier Mills 62917Seller’s market $73 /sq ftEldorado 62930Balanced $63 /sq ftGalatia 62935Buyer’s market $144 /sq ftHarrisburg 62946Buyer’s market $85 /sq ft Browse all markets →Where Raleigh is
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Questions about Raleigh real estate
Is Raleigh a buyer’s or seller’s market?
A seller’s market: there were 1.6 months of supply in Raleigh, IL 62977 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 Raleigh?
The typical home went under contract in 48 days in the latest three months.
Do homes in Raleigh sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 92.0% of the list price.
What are property taxes in Raleigh?
About 1.69% of a home’s value a year in Saline County, or roughly $6,760 on a $400,000 home.
What is the median home price in Raleigh?
The median sale price was $157,432 in the three months ending August 31, 2026, about $48 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