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Featured local agent — Palmyra, IL
Sarah Mitchell
Compass Real Estate · Palmyra, IL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Palmyra, IL Housing Market & Real Estate
Housing market overview · Updated monthly ·
$205,000median sale price
How is the Palmyra, IL housing market right now?
The median home sale price in Palmyra, IL is $205,000, up 259.6% year-over-year. Homes sell in an average of 5 days with 1 active listings. The market is currently a strong seller's market. (Source: Redfin monthly MLS data, as of November 2024 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Palmyra a buyer's or seller's market?
Palmyra, IL is currently a strong seller's market, based on 1.0 months of supply and homes selling in about 5 days. How we determine this →
Homes sold
1
Last 12 weeks
Days on market
5
Fast-moving
Active listings
1
1.0 months supply
Sale-to-list
100.0%
Above asking
What does the Palmyra housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $205,000 |
| Year-over-year price change | +259.6% |
| Average days on market | 5 days |
| Active inventory | 1 listings |
| Months of supply | 1.0 months |
| Sale-to-list price ratio | 100.0% |
| Median price per sq ft | $107/sq ft |
| Homes sold (latest month) | 1 |
| Listings with a price cut | 100.0% |
| Market condition | Strong seller's market |
Source: Redfin · Updated monthly
The Palmyra housing market is currently classified as a strong seller's market with a median sale price of $205,000. Prices have risen 259.6% compared to last year, with homes spending an average of 5 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.The price-to-income ratio of 3.1x provides context for how home values compare to local earning capacity.
Homes for sale in Palmyra
There are currently 1 homes listed for sale in Palmyra, Illinois.
Active listings
1
Homes on market
Avg. days on market
5
Days until sale
Who lives in Palmyra?
Population
524
Median income
$46,477/yr
Median age
50.4 years
Owner-occupied
81.2%
College grads
10.6%
Avg commute
42.5 min
Source: U.S. Census Bureau ACS
What are homes worth in Palmyra?
Zillow home value
$142,998
Price-to-income
3.1x
Source: Zillow Research
What is it like to live in Palmyra?
Palmyra is a community of approximately 1K residents with a median age of 50.4 years.The median household income is $46,477, which represents a working-class community with solid middle-income opportunities. 10.6% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 81.2%, reflecting strong community stability and long-term resident commitment. The average commute time is 42.5 minutes, which suggests a more suburban or rural location for those willing to commute longer distances.Overall, Palmyra offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Palmyra?
3 schools tracked · 320 students
The largest public schools serving Palmyra, 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.
Northwestern Elem School
Grades PK-6 · 184 students
Northwestern High School
Grades 9-12 · 84 students
Northwestern Jr High School
Grades 7-8 · 52 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 Palmyra, IL?
Want a head-to-head view? Compare Palmyra side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Palmyra?
The median home sale price in Palmyra is $205,000, up 259.6% from last year.
How long do homes stay on market in Palmyra?
Homes typically spend 5 days on market before going under contract.
What is the median income in Palmyra?
The median household income is $46,477 per year.
Is Palmyra a buyer's or seller's market?
With 1.0 months of supply, Palmyra is currently a strong seller's market.
What is the Zillow home value estimate for Palmyra?
The Zillow Home Value Index (ZHVI) for Palmyra is $142,998, representing the typical home value in the area.
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