Quincy, Illinois Housing Market

How much can you negotiate in Quincy?

Only 77 out of every 100 homes for sale have found a buyer. The other 23 are still waiting. Your offer may be the only one on the table. About 1 in 5 sellers has already dropped their price. Each one has learned their first price was too high. Start below their new price, not their old one.

A typical Quincy home takes 62 days to find a buyer. Half of them take even longer. That is 47% slower than a year ago. Those sellers are paying to own a house they want to sell. Search for homes listed 90+ days ago. There are 102 homes for sale in Quincy. That is 1.5 times the tightest month on record, but below the peak of 296. Supply is growing against last year.

What to do about it

• Judge the listing, not the market.
• Homes listed 90+ days ago with a price cut are where your discount is.
• Fresh, well-priced homes will not move on price. Do not waste offers on them.

Is now a good time to buy in Quincy?

Asking prices are 13.9% below their Jun 2025 peak. You are not buying at the top. Prices are still falling. Waiting has paid off so far. Let listings age, then come back lower. Quincy prices have risen in 77 of the last 108 months. Drops here have been short and shallow. Buying in a slow month has rarely hurt a long hold.

This market is turning. Which way is not settled yet. Check the monthly numbers above before you commit.

Who will rent from you in Quincy?

In Quincy, 32 out of every 100 households rent. Most own their home. That share has held steady for five years. 7.4% of homes sit empty. That is normal for a healthy market.

The median Quincy household earns $63,586 a year. Incomes here have grown 3.5% a year since 2019. Home prices have outrun incomes. Locals are being priced out. A typical home costs 3.3 times the median income. Locals can afford to buy here. Your exit buyer can be a family, not just another investor. A tenant on the median income can pay about $1,590 a month. That is the standard 30% affordability line. Rents above it thin your tenant pool fast.

What numbers should you underwrite a Quincy deal with?

• Price growth to assume — +4.2%/yr. 1 year: +2.9% · 5 years: +6.9% · ten years: +4.2%. Quincy has grown faster in the last five years than across the full ten. That momentum is recent. Do not assume it continues. Underwrite between the two. Measure growth per square foot. Quincy median list price grew 3.5% a year, but price per square foot grew 4.2%. The gap is smaller homes, not weaker growth. The house you buy will not shrink. The one-year rate is a timing signal. It is not an underwriting input.
• Months of carrying cost — 3. A typical home takes 62 days to sell. Budget that long when you exit or refinance. It is 47% slower than a year ago.
• Odds you cut your price to sell — 1 in 5. About 19% of homes on the Quincy market right now have already cut their asking price. Assume you are one of them when you sell. Do not underwrite an exit at your asking price.
• Comp on this, not median price — $125/sqft. The average listing runs +23% above the median. Luxury homes skew it. Comp your own size class per sqft.
• Competition when you exit — +19%. That is how much the number of homes for sale grew in a year. Your resale will face a bigger crowd than today's comps did.
• Price-to-income ratio — 3.3×. A typical home costs 3.3 times the median income. Locals can afford to buy here. Your exit buyer can be a family, not just another investor. Home prices have outrun incomes. Locals are being priced out.
• Tenant rent ceiling — $1,590/mo. 30% of the median household income of $63,586. Rents above this line shrink your tenant pool fast.

Is Quincy a buyer's or seller's market in 2026?

Only on the right house. Neither side has the upper hand in Quincy right now. 0.77 out of every 100 homes for sale have a buyer, 19% of sellers have cut their price, and a typical home takes 62 days to sell.

Are Quincy home prices going up or down?

Asking prices are 13.9% below their Jun 2025 peak. You are not buying at the top. Prices are still falling. Waiting has paid off so far. Let listings age, then come back lower.

What price growth should I assume for Quincy?

+4.2%/yr. 1 year: +2.9% · 5 years: +6.9% · ten years: +4.2%. Quincy has grown faster in the last five years than across the full ten. That momentum is recent. Do not assume it continues. Underwrite between the two. Measure growth per square foot. Quincy median list price grew 3.5% a year, but price per square foot grew 4.2%. The gap is smaller homes, not weaker growth. The house you buy will not shrink. The one-year rate is a timing signal. It is not an underwriting input.

How fast are homes selling in Quincy?

A typical Quincy home takes 62 days to find a buyer. Half of them take even longer. That is 47% slower than a year ago. Those sellers are paying to own a house they want to sell. Search for homes listed 90+ days ago.

Is Quincy a renters' market or an owners' market?

In Quincy, 32 out of every 100 households rent. Most own their home. That share has held steady for five years. 7.4% of homes sit empty. That is normal for a healthy market.

What rent can Quincy tenants afford?

A tenant on the median income can pay about $1,590 a month. That is the standard 30% affordability line. Rents above it thin your tenant pool fast. The median Quincy household earns $63,586 a year.