Panama, IL Foreclosures
How much do homes sell for in Panama, IL?
The average home price is currently $82,020.
In Panama, IL, how many homes are available?
There are currently 58 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 $252,174.
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 small village located in Montgomery County, known for its rural charm and close-knit community. It offers a peaceful lifestyle with ample outdoor activities such as hiking and biking, as well as easy access to larger cities for work and entertainment. With a population of just over 300 residents, Panama provides a quaint atmosphere perfect for families and those looking to escape the hustle and bustle of city life.
Current Market Conditions in Panama, IL
The real estate market in Panama, IL is currently experiencing stable growth, with home prices showing a slight upward trend. The village's affordability in comparison to larger cities draws potential buyers looking for more space and lower living costs. As demand increases, inventory levels are lower than average, suggesting a shift towards a seller's market in the area.
In recent months, interest from buyers has surged, particularly among those looking for vacation homes or rural retreats. The tranquil environment and available land have made Panama an appealing option, particularly for families and retirees.
Home Value Estimator For Panama, IL
There are currently 147 real estate properties
in Panama, IL,
with a median automated valuation model (AVM) price
of $63,274.00. 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 $82,020.00, with the most expensive house
in Panama, IL, topping out
at $252,174.00 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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