Lima, IL Foreclosures
How much do homes sell for in Lima, IL?
The average home price is currently $80,686.
In Lima, IL, how many homes are available?
There are currently 69 active home listings available in Lima.
What’s the average rental cost in Lima, IL?
The average rental price in Lima is $849.
What is the most expensive home in Lima?
The most expensive home sold in Lima had a price of $298,409.
What is currently the cheapest priced home in Lima, IL?
The cheapest home for sale in Lima is priced at $17,613.
Living in Lima, IL
Lima, IL is a peaceful village nestled among picturesque rural landscapes. Known for its friendly community and close-knit relationships, Lima offers a retreat from the fast-paced city life while remaining conveniently close to urban amenities. The area's family-friendly environment and outdoor activities make it an ideal spot for those seeking tranquility and a supportive neighborhood.
Current Market Conditions in Lima, IL
The real estate market in Lima, IL is stable, characterized by lower than average home prices compared to urban centers. The area has seen steady interest from home buyers seeking affordable housing options for family living or retirement. Favorable market conditions reflect a balanced economy with continued interest in home ownership, particularly in single-family homes.
Analysts expect Lima to sustain its appeal, as remote work arrangements allow more people to reconsider their living locations, drawing interest from buyers wanting homes in less densely populated areas.
Home Value Estimator For Lima, IL
There are currently 35 real estate properties
in Lima, IL,
with a median automated valuation model (AVM) price
of $61,027.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Lima, IL, based on current market
trends, comparable real
estate sales nearby, historical data and, of course, property features, among other
variables. These automated home estimates are often very helpful, providing buyers
and
sellers with a better idea of a home’s value ahead of the negotiation process. For
example,
the average home price in Lima, IL,
is $80,686.00, with the most expensive house
in Lima, IL, topping out
at $298,409.00 and the cheapest home
in Lima, IL,
clocking in at $17,613.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Lima, IL!
Rent Prices
In Lima, IL
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Lima, IL, is on
a rollercoaster ride. The
average rent price in Lima, IL,
is $849.00. Indeed, when looking to rent in
Lima, IL, you can expect to pay as little
as $570.00 or as much
as $1,240.00,
with the average rent median estimated to
be $760.00. The good news is that finding
an affordable and desirable property to rent in Lima, IL
-- whether it’s apartments,
townhomes, condominiums or single-family homes -- is made easier with knowledge of
the
local market and, of course, a little patience.
Learn more on Foreclosure homes
