Paw Paw, Illinois, is a quaint village in Lee County with a population of approximately 830 as of the 2020 census. Settled in the mid-19th century, the village derived its name from the abundant pawpaw trees in the area, a nod to its natural heritage. Paw Paw boasts a rich history, with its Chicago Road once part of the Frink and Walker stagecoach line connecting Galena to Chicago, used initially by the Potawatomi Indians. The village features a house listed on the U.S. National Register of Historic Places and maintains a small-town charm with community events and a focus on local governance, as seen in its active village hall and ordinances. Surrounded by fertile farmland, Paw Paw offers a serene, rural lifestyle with access to natural attractions like the Paw Paw Woods Nature Preserve, making it a hidden gem in the Midwest.
Paw Paw currently has 10 single family homes for sale with an average list price of $324,380 and 3 lots for sale with an average list price of $36,666.67. The average annual property tax for Paw Paw is $3,633.82.
Using the absorption rate, we can determine how long it's taking for homes to sell and which price points are selling the fastest in Paw Paw, i.e. what's hot and what's not.
See What's Hot & What's Not in Paw PawPaw Paw home sales for the month of July decreased in volume by 50% when compared to last year, while the median sale price decreased by 35.5% from $277,500 to $179,000. House sales decreased by 50%, while the median sale price decreased by 35.5% from $277,500 to $179,000.
18
|
12
|
18
|
6
|
2021 | 2022 | 2023 | 2024 |
# of sales per year |
$164,500
|
$190,000
|
$186,200
|
$260,250
|
2021 | 2022 | 2023 | 2024 |
median sale price per year |