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Foreclosures in Panama, IL

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Panama, IL Foreclosures

Current Market Conditions in in Panama, IL As of June 2026?
Home values: +1.56% MoM; rent: +0.00% MoM.
How much do homes sell for in Panama, IL?
The average home price is currently $83,054.
In Panama, IL, how many homes are available?
There are currently 52 active home listings available in Panama.
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 $248,338.
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, Illinois is a quiet rural village in Montgomery County offering affordable small-town living near Hillsboro, Greenville, Litchfield, and Coffeen Lake.

Buyer vs Seller Market in Panama, IL

Median home value: $64,562 as of 2026-05-14.

Median rent: $850 as of 2026-05-14.

Home values: +1.56% MoM, +17.55% YoY.

Rent: +0.00% MoM, +0.00% YoY.

Home Value Estimator For Panama, IL

There are currently 148 real estate properties in Panama, IL, with a median automated valuation model (AVM) price of $64,562.00. 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 $83,054.00, with the most expensive house in Panama, IL, topping out at $248,338.00 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.

Panama, IL Foreclosures

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