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Featured local agent — Troy, IL
Sarah Mitchell
Compass Real Estate · Troy, IL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Troy, IL Housing Market & Real Estate
Housing market overview · Updated monthly ·
$390,000median sale price
How is the Troy, IL housing market right now?
The median home sale price in Troy, IL is $390,000, up 16.4% year-over-year. Homes sell in an average of 121 days with 19 active listings. The market is currently a 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 Troy a buyer's or seller's market?
Troy, IL is currently a seller's market, based on 1.9 months of supply and homes selling in about 121 days. How we determine this →
Homes sold
10
Last 12 weeks
Days on market
121
Average pace
Active listings
19
1.9 months supply
Sale-to-list
98.6%
Below asking
What does the Troy housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $390,000 |
| Median list price | $385,000 |
| Year-over-year price change | +16.4% |
| Average days on market | 121 days |
| Active inventory | 19 listings |
| Months of supply | 1.9 months |
| Sale-to-list price ratio | 98.6% |
| Median price per sq ft | $180/sq ft |
| Homes sold (latest month) | 10 |
| New listings (latest month) | 9 |
| Listings with a price cut | 10.5% |
| Market condition | Seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Troy by property type?
How the Troy, 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 | $390,000 | $180/sq ft | 10 | 121 days |
| Condo / Co-op | $287,000 | $148/sq ft | 1 | 149 days |
| Townhouse | $173,000 | $150/sq ft | 1 | 17 days |
Source: Redfin · Updated monthly
The Troy housing market is currently classified as a seller's market with a median sale price of $390,000. Prices have risen 16.4% compared to last year, with homes spending an average of 121 days on market, indicating 1.9 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 3.4x provides context for how home values compare to local earning capacity.
Market trends
Homes for sale in Troy
There are currently 19 homes listed for sale in Troy, Illinois. The median listing price is $385K.
Active listings
19
Homes on market
Median list price
$385K
Avg. days on market
121
Days until sale
New this week
9
Newly listed
Who lives in Troy?
Population
10,889
Median income
$97,825/yr
Median age
35.8 years
Owner-occupied
67.5%
College grads
45.5%
Avg commute
24.9 min
Source: U.S. Census Bureau ACS
What are homes worth in Troy?
Zillow home value
$333,735
Zillow rent index
$1,313/mo
Price-to-rent ratio
21.2x
Price-to-income
3.4x
Source: Zillow Research
What is it like to live in Troy?
Troy is a community of approximately 11K residents with a median age of 35.8 years.The median household income is $97,825, which reflects a relatively affluent area with strong earning potential. 45.5% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 67.5%, reflecting strong community stability and long-term resident commitment. The average commute time is 24.9 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Troy offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Troy?
4 schools tracked · 2,686 students
The largest public schools serving Troy, 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.
Triad High School
Grades 9-12 · 1,188 students
Silver Creek Elementary
Grades PK-5 · 751 students
C A Henning School
Grades PK-5 · 747 students
Center for Educ Opp
Grades 6-12
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 Troy, IL?
Want a head-to-head view? Compare Troy side-by-side with any other U.S. city using our market-comparison tool.
Is Troy a good real estate investment market?
For investors evaluating Troy, the price-to-rent ratio of 21.2x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has appreciated 16.4% year-over-year, reflecting ongoing demand and value growth.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Troy's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Troy's median home price.
Frequently asked questions
What is the average home price in Troy?
The median home sale price in Troy is $390,000, up 16.4% from last year.
How long do homes stay on market in Troy?
Homes typically spend 121 days on market before going under contract.
What is the median income in Troy?
The median household income is $97,825 per year.
Is Troy a buyer's or seller's market?
With 1.9 months of supply, Troy is currently a seller's market.
What is the Zillow home value estimate for Troy?
The Zillow Home Value Index (ZHVI) for Troy is $333,735, representing the typical home value in the area.
What is the median condo price in Troy?
The median condo/co-op sale price in Troy, IL is $287,000, compared to $390,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Troy?
The median single-family home price in Troy, IL is $390,000 (about $180 per square foot).
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