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Featured local agent — Erie, IL
Sarah Mitchell
Compass Real Estate · Erie, IL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Erie, IL Housing Market & Real Estate
Housing market overview · Updated monthly ·
$125,000median sale price
How is the Erie, IL housing market right now?
The median home sale price in Erie, IL is $125,000, up 19.1% year-over-year. Homes sell in an average of 2 days with 5 active listings. The market is currently a strong seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Erie a buyer's or seller's market?
Erie, IL is currently a strong seller's market, based on 1.7 months of supply and homes selling in about 2 days. How we determine this →
Homes sold
3
Last 12 weeks
Days on market
2
Fast-moving
Active listings
5
1.7 months supply
Sale-to-list
96.3%
Below asking
What does the Erie housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $125,000 |
| Median list price | $140,000 |
| Year-over-year price change | +19.1% |
| Average days on market | 2 days |
| Active inventory | 5 listings |
| Months of supply | 1.7 months |
| Sale-to-list price ratio | 96.3% |
| Median price per sq ft | $86/sq ft |
| Homes sold (latest month) | 3 |
| New listings (latest month) | 5 |
| Listings with a price cut | 40.0% |
| Market condition | Strong seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Erie by property type?
How the Erie, IL market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $125,000 | $86/sq ft | 3 | 2 days |
| Townhouse | $132,500 | $79/sq ft | 1 | 45 days |
Source: Redfin · Updated monthly
The Erie housing market is currently classified as a strong seller's market with a median sale price of $125,000. Prices have risen 19.1% compared to last year, with homes spending an average of 2 days on market, indicating 1.7 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 2.1x provides context for how home values compare to local earning capacity.
Market trends
Homes for sale in Erie
There are currently 5 homes listed for sale in Erie, Illinois. The median listing price is $140K.
Active listings
5
Homes on market
Median list price
$140K
Avg. days on market
2
Days until sale
New this week
5
Newly listed
Who lives in Erie?
Population
1,658
Median income
$86,750/yr
Median age
42.3 years
Owner-occupied
71.6%
College grads
17.4%
Avg commute
19.3 min
Source: U.S. Census Bureau ACS
What are homes worth in Erie?
Zillow home value
$178,504
Price-to-income
2.1x
Source: Zillow Research
What is it like to live in Erie?
Erie is a community of approximately 2K residents with a median age of 42.3 years.The median household income is $86,750, which reflects a relatively affluent area with strong earning potential. 17.4% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 71.6%, reflecting strong community stability and long-term resident commitment. The average commute time is 19.3 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Erie offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Erie?
3 schools tracked · 621 students
The largest public schools serving Erie, IL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Erie Elem School
Grades PK-4 · 254 students
Erie High School
Grades 9-12 · 192 students
Erie Middle School
Grades 5-8 · 175 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Erie, IL?
Want a head-to-head view? Compare Erie side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Erie?
The median home sale price in Erie is $125,000, up 19.1% from last year.
How long do homes stay on market in Erie?
Homes typically spend 2 days on market before going under contract.
What is the median income in Erie?
The median household income is $86,750 per year.
Is Erie a buyer's or seller's market?
With 1.7 months of supply, Erie is currently a strong seller's market.
What is the Zillow home value estimate for Erie?
The Zillow Home Value Index (ZHVI) for Erie is $178,504, representing the typical home value in the area.
How much does a single-family home cost in Erie?
The median single-family home price in Erie, IL is $125,000 (about $86 per square foot).
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