Panama, IL Foreclosures
How much do homes sell for in Panama, IL?
The average home price is currently $79,933.
What’s the average rental cost in Panama, IL?
The average rental price in Panama is $896.
What is the most expensive home in Panama?
The most expensive home sold in Panama had a price of $254,645.
What is currently the cheapest priced home in Panama, IL?
The cheapest home for sale in Panama is priced at $9,226.
Living in Panama, IL
Panama, IL is a charming small village that offers a peaceful lifestyle and tight-knit community atmosphere. Nestled in rural settings, it features beautiful landscapes and outdoor recreational opportunities. With convenient access to nearby towns, residents can enjoy a serene environment without sacrificing modern conveniences.
Current Market Conditions in Panama, IL
The real estate market in Panama reflects the characteristics of a small rural community, where properties are often more affordable compared to urban centers. Recent trends indicate a growing interest in the area from individuals seeking more space and a quieter living environment.
As of late, there has been a noticeable uptick in real estate inquiries, particularly from young families and retirees looking for homes in a peaceful setting. Limited inventory has led to a stabilization in pricing, which could indicate a favorable market for sellers.
Home Value Estimator For Panama, IL
There are currently 144 real estate properties
in Panama, IL,
with a median automated valuation model (AVM) price
of $59,514.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Panama, 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 Panama, IL,
is $79,933.00, with the most expensive house
in Panama, IL, topping out
at $254,645.00 and the cheapest home
in Panama, IL,
clocking in at $9,226.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Panama, IL!
Rent Prices
In Panama, IL
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Panama, IL, is on
a rollercoaster ride. The
average rent price in Panama, IL,
is $896.00. Indeed, when looking to rent in
Panama, IL, you can expect to pay as little
as $620.00 or as much
as $1,490.00,
with the average rent median estimated to
be $850.00. The good news is that finding
an affordable and desirable property to rent in Panama, 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.
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