Farmington Housing Market Report February 2025•Fulton County, Illinois

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Housing Prices in Farmington, IL

How much do homes in Farmington, IL cost?

Housing Market Conditions

Is Farmington, IL a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Farmington is a Seller's Market

Difference Since January 2025

Last month, Farmington has remained a Seller's Market.

Insight

Farmington is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$113,700$90/SqFt
-$8,300
-6.8%

Based on all homes sold in February 2025

Insight

Homes in Farmington have sold for 6.8% less than they did a month ago.

Summary: The median home sold price in Farmington was $113,700 in February 2025, down 6.8% from last month, and the median price per square foot was $90.

Median Sold Price By Cities

Median Sold Price By Cities
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange MoM
Farmington Township
-6.8%
Farmington
-6.8%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsJan 2025Feb 2025Change MoM
1--
N/A
2-$107.5K
N/A
3$122K$119.9K
-1.7%
4$114K-
N/A
5--
N/A

Summary: Farmington housing price by bedroom type for February 2025, compared to the previous month. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes did not change. The home price for 3 bedroom homes decreased by -1.7%. The home price for 4 bedroom homes did not change. The home price for 5 bedroom homes did not change.

Housing supply in Farmington, IL

How many homes are available in Farmington, IL?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
6Last MonthFeb 2025
102 months agoJan 2025
-40.0 %
Change MoMJan – Feb

Summary: The Farmington real estate market had 6 homes for sale in Feb 2025, a 40.0 % decrease compared to Jan 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
4Last MonthFeb 2025
32 months agoJan 2025
+33.3 %
Change MoMJan – Feb

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsJan 2025Feb 2025Change MoM
100
0.0%
243
-25.0%
343
-25.0%
420
-100.0%
500
0.0%

Summary: Farmington housing inventory by bedroom type for February 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes decreased by -25.0%. The inventory for 3 bedroom homes decreased by -25.0%. The inventory for 4 bedroom homes decreased by -100.0%. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in Farmington, IL cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price0 Home

At Asking Price1 Home

Under Asking Price3 Homes

Insight

If you're buying a home in Farmington, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in Farmington in February 2025, up by 33.3% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and and 0% were sold over asking.

Days on Market for Farmington, IL

How long does it take to sell a home in Farmington, IL?

Breakdown of Home Sale Times

Under 30 Days0 Home

30 – 90 Days2 Homes

Over 90 Days2 Homes

Insight

Avg time on Rocket Homes in Farmington has remained consistent over time.

Summary: During February 2025, 4 homes were sold in Farmington; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
Last Month1 month agoChange MoM
76 DaysLast MonthFeb 2025
75 Days1 month agoJan 2025
+1.5 %
Change MoMJan – Feb

Summary: Homes in Farmington had an average listing age of 76 days in Feb 2025, up by 1.5% compared to the previous month.

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Newest Listings in Farmington, IL

What homes are available in Farmington, IL?

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Nearby markets

Nearby markets aren't available for Farmington, IL

Popular Cities with Homes for Sale in Illinois

MLS Disclaimers and Copyright

Based on information from RMLS Alliance, for the period 01/01/2025 - 03/01/2025

IDX Listings courtesy of RMLS Alliance as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS.

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange program of RMLS Alliance®. Real estate listings held by brokerage firms other than this broker are marked with the RMLSA logo and detailed information about them includes the name of the listing brokers. The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but is not guaranteed and should be independently verified through personal inspection and/or with the appropriate professionals. Copyright © 2025 Peoria Area Association of REALTORS®.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/9/2025, 10:20:53 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.