Photo: DianePearse69 · CC BY-SA 4.062 homes sold in Pana in the last year, at a typical $101K
Almost every sale is a house. Below: what each kind of home sells for, what your budget buys, the best months to buy, how hard you’ll have to bid, and a shortcut to every site where Pana homes are listed.
Every place Pana homes are listed, in one stop
We don’t copy listings: the agents’ sites have the photos and the latest price changes. Set what you want once and we open each site already filtered to Pana.
For sale
Rent
New, land & open houses
Links open the listing sites; TownRatings isn’t paid for them and doesn’t rank one above another. Rentals and government-owned homes come from sources outside the MLS.
Houses are 100% of Pana’s sales, at a typical $101K
62 homes sold in the year to May 2026.
typical sale · 62 sold in 12 months
- Per square foot
- $79IL $180
- Days to sell
- 44
- Sold over asking
- 18%
- Listings with a price cut
- 24%
About as many homes sell as usual, at twice the 2016 price
62 sales in the last year, against 89 in 2021 and a low of 47 in 2018. The typical sale went from $51K in 2016 to $101K.
Source: Redfin Data Center, MLS sales. Typical price and $/sq ft are the monthly medians, weighted by sales.
What $150K buys in Pana
Check a listing against what Pana homes sold for
Against the town’s median price per square foot over the last 12 months. A rough check: condition, lot and location within town move a price more than this can see.
Bidding wars in Pana are more common than before the pandemic, but 56% fewer homes come up for sale
We read every month of Pana’s home sales since 2012 so you don’t have to. Each figure covers 12 months, because a single month in a town is too few sales to mean much. Latest: the year to May 2026, 62 sales.
If you’re buying in Pana
- Shop in May. It brings about 7 new listings a month, close to the busiest month, with fewer bidding wars (3% over asking).
- Offer under asking. Buyers paid 92.5% of the list price on average; 18% paid over.
- You’ll usually have time. Only 38% of homes go under contract within two weeks; the typical one takes 44 days.
Summer brings both the most homes and the most bidding wars
July has the most new listings (about 9 a month), but August is the most competitive: 14% of August sales close over asking. May offers nearly as much choice with fewer homes bid up (3%). May has the least competition (3%).
Averages for each calendar month, 2015 on.
Hotter than in 2021, and calmer than Illinois
| Pana now | 2017–19 | 2021 peak | IL now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 18% | 8% | 7% | 37% |
| Gone within two weeksShare of homes under contract within 14 days | 38% | 6% | 6% | 46% |
| Listings with a price cutShare of homes for sale that cut their price | 24% | — | — | 19% |
| Price paid vs. askingAverage sale price ÷ list price | 92.5% | 91.8% | 91.4% | 99.2% |
| Days to sellMedian days from listing to contract | 44 | 116 | 112 | 49 |
18 homes for sale on a typical day
That’s 1.4 times the 2023 low (13), 56% fewer than in 2017–19 and well under 2015’s 51.
1 in 4 listings has cut its price
24% in the last year, against — in 2017–19 and 19% across Illinois.
Pana ranks 311th of 324 busy Illinois markets for bidding wars
Share of sales over asking in the last year, among towns with 60 or more sales. Pana is one of the state’s calmer markets.
Source: Redfin Data Center, city market tracker, January 2012 to May 2026 (MLS sales, not seasonally adjusted). Ratios are weighted by homes sold; price cuts by homes for sale.
Owning the typical Pana home costs about $676 a month
Price: Pana’s typical sale, last 12 months. Property tax at Pana’s 1.8% (median bill ÷ median value, Census ACS); insurance at 0.35% of price a year. Before PMI, HOA dues, upkeep and the tax deduction. Whether Pana is affordable on local pay is on Cost of living.
Six things worth knowing
New listings in July
The month with the most choice. December has the fewest, about 3.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $101K home, about $1,800 a year.
Taxes vs. neighborsSchools
The schools grade for Pana, from test results, graduation and how much students grow.
Schools in PanaCheck the flood map
Flood insurance isn’t in a standard policy, and lenders require it in FEMA flood zones. Check the address before you make an offer.
Natural hazardsLook up any property
Assessed value, lot size and every past sale of a home you’re eyeing are public, at the town or county assessor and the registry of deeds.
Post your home to Pana, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Pana. People who follow the town see it, and so do people comparing Pana with their own town. No commission, no listing fee.
Questions about buying a home in Pana
What do homes sell for in Pana, IL?
62 homes sold in the year to May 2026 at a typical $101K, $79 a square foot.
Is Pana a buyer’s or seller’s market?
A balanced market: 20 homes were for sale in May 2026 and 5 sold, about 4 months of supply. Buyers paid 92.5% of asking on average, and 24% of listings cut their price.
When is the best time to buy in Pana?
July brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Pana?
About 1.8% of a home’s value a year. On a $101K home that’s near $1,800.
Where can I see homes for sale in Pana?
Zillow, Redfin, Realtor.com and Homes.com all carry Pana’s MLS listings; the search links above open each one filtered to Pana.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted). Property tax rate: Census American Community Survey. Two-bedroom rent: HUD Fair Market Rent. Typical home value: Zillow Home Value Index. Schools grade: TownRatings (how grades work).