Are sellers cutting their asking price in Ottawa, IL?
In Ottawa, IL, 19% of the homes on the market cut their asking price during May 2026 — roughly 2 in every 10 listings. A year earlier it was 23%, so fewer sellers are cutting now.
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.
Cutting is less common than it was a year ago — down about 4 points. Sellers are landing closer to the right number on the first try.
The other side of the same market: 27% 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 28%, in August 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 Ottawa, IL area, through May 2026.
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More about the Ottawa, IL market
- When is the best month to sell a house in Ottawa, IL?
- How long does it take to sell a house in Ottawa, IL?
- Do homes sell above asking price in Ottawa, IL?
- Are home prices going up or down in Ottawa, IL?
- Is Ottawa, IL a buyer's market or a seller's market?
- Is the housing market slowing down in Ottawa, IL?
- What is the average home price in Ottawa, IL?
- How many homes are for sale in Ottawa, IL?
- All Ottawa, IL housing numbers
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Figures come from Redfin's published market data for the Ottawa, 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.