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Featured local agent — Lima, IL
Sarah Mitchell
Compass Real Estate · Lima, IL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Lima, IL Housing Market & Real Estate
Housing market overview · Updated monthly ·
$88,400median sale price
How is the Lima, IL housing market right now?
The median home sale price in Lima, IL is $88,400. Homes sell in an average of 115 days with 1 active listings. The market is currently a seller's market. (Source: Redfin monthly MLS data, as of April 2025 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Lima a buyer's or seller's market?
Lima, IL is currently a seller's market, based on 1.0 months of supply and homes selling in about 115 days. How we determine this →
Homes sold
1
Last 12 weeks
Days on market
115
Average pace
Active listings
1
1.0 months supply
Sale-to-list
98.3%
Below asking
What does the Lima housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $88,400 |
| Average days on market | 115 days |
| Active inventory | 1 listings |
| Months of supply | 1.0 months |
| Sale-to-list price ratio | 98.3% |
| Median price per sq ft | $60/sq ft |
| Homes sold (latest month) | 1 |
| Listings with a price cut | 100.0% |
| Market condition | Seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Lima by property type?
How the Lima, 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 | $88,400 | $60/sq ft | 1 | 115 days |
Source: Redfin · Updated monthly
The Lima housing market is currently classified as a seller's market with a median sale price of $88,400. Prices have fallen 0.0% compared to last year, with homes spending an average of 115 days on market, indicating 1.0 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.
Homes for sale in Lima
There are currently 1 homes listed for sale in Lima, Illinois.
Active listings
1
Homes on market
Avg. days on market
115
Days until sale
Who lives in Lima?
Population
231
Median income
$71,250/yr
Median age
35.1 years
Owner-occupied
77.3%
College grads
5.0%
Avg commute
28.4 min
Source: U.S. Census Bureau ACS
What is it like to live in Lima?
Lima is a community of approximately 0K residents with a median age of 35.1 years.The median household income is $71,250, which represents a working-class community with solid middle-income opportunities. 5.0% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 77.3%, reflecting strong community stability and long-term resident commitment. The average commute time is 28.4 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Lima offers a balanced lifestyle with accessible home values relative to local income levels.
Which cities are near Lima, IL?
Want a head-to-head view? Compare Lima side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Lima?
The median home sale price in Lima is $88,400, down 0.0% from last year.
How long do homes stay on market in Lima?
Homes typically spend 115 days on market before going under contract.
What is the median income in Lima?
The median household income is $71,250 per year.
Is Lima a buyer's or seller's market?
With 1.0 months of supply, Lima is currently a seller's market.
How much does a single-family home cost in Lima?
The median single-family home price in Lima, IL is $88,400 (about $60 per square foot).
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