Are sellers cutting their asking price in Champaign, IL?
In Champaign, IL, 20% of the homes on the market cut their asking price during May 2026 — roughly 2 in every 10 listings. That is about where it was a year earlier (20%).
A price cut means a home was listed, did not sell at that number, and the seller lowered it. It is the clearest sign of the gap between what sellers are asking and what buyers will pay, and it shows up months before it shows up in sale prices.
The share has barely moved against a year ago, which means sellers and buyers are about as far apart as they were then — no better, no worse.
The other side of the same market: 30% of homes here sold for MORE than the asking price. Read the two together: the well-priced homes still move, the ambitious ones do not.
Over the last 36 months the highest this got was 29%, in October 2025.
If you are selling here, the number to take from this is that about 2 in 10 of your competitors got their first price wrong. If you are buying, a home that has already been cut once is a seller who has accepted that the market disagreed with them.
One caution: price cuts are seasonal everywhere. Listings that sit through the summer get cut in the fall. That is why the honest comparison is to the same month a year ago, which is the one we show, rather than to last month.
Source: Redfin's published market data for the Champaign, IL area, through May 2026.
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More about the Champaign, IL market
- When is the best month to sell a house in Champaign, IL?
- How long does it take to sell a house in Champaign, IL?
- Do homes sell above asking price in Champaign, IL?
- Are home prices going up or down in Champaign, IL?
- Is Champaign, IL a buyer's market or a seller's market?
- Is the housing market slowing down in Champaign, IL?
- What is the average home price in Champaign, IL?
- How many homes are for sale in Champaign, IL?
- All Champaign, IL housing numbers
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Figures come from Redfin's published market data for the Champaign, IL area, through May 2026. Neighborhood Numbers is an independent data publisher and is not affiliated with Redfin. We update these pages when Redfin publishes, once a month.