What Today’s Buyer & Seller Trends Mean for Champaign-Urbana

Each year, the National Association of REALTORS® releases a report showing who’s buying and selling homes across the country. While it’s national data, much of what shows up in the 2025 report lines up closely with what we’re seeing right here in Champaign-Urbana and the surrounding communities.

The big theme? Fewer first-time buyers, more well-positioned buyers, and sellers who benefit from strategy, not shortcuts.

Breaking down the statistics, here is what matters most.

First-Time Buyers Are Older; Cash Buyers Are More Common

First-time buyers made up just 21% of all home purchases, the lowest level ever recorded. Even more telling: the average first-time buyer is now around 40 years old.

Between higher rents, student loan debt, limited inventory, and higher interest rates, many buyers are waiting longer before making their first purchase.

At the same time, all-cash purchases reached a record high of 26% nationwide. Buyers using equity from previous homes or choosing cash to make their offers more competitive.

What this means in Champaign-Urbana:
Prepared buyers WIN.

Whether you’re using cash or financing, the buyers who understand pricing, timing, and competition are the ones getting homes under contract.

Selling Without an Agent Is Rare — and Often Costly

Only 5% of homes sold as For Sale By Owner last year, while 91% of sellers worked with a real estate agent.

Nationally, homes sold with professional representation sold for a much higher median price than FSBO homes. Sellers said their top goals were strong marketing, accurate pricing, and selling within a certain timeframe.

Locally, this means, even in stable neighborhoods across Champaign, Urbana, Savoy, and St. Joseph, pricing and presentation matter. Buyers are informed, and homes that aren’t positioned correctly tend to sit — or sell for less than they should.

Buyers Are Thinking Long-Term

Today’s buyers are older and more intentional. The typical buyer now expects to stay in their next home for about 15 years, signaling a shift away from quick moves and toward long-term livability.

Households are changing too. Fewer buyers have kids at home, and more buyers are single. There’s no longer a “typical” buyer profile, and homes that appeal to how people actually live today stand out.

Layout, location, and future flexibility matter more than ever here in the Champaign-Urbana area. Buyers are looking beyond paint colors and thinking about how a home fits their life long-term.

The Bottom Line for Champaign-Urbana Buyers & Sellers

National trends help explain what we’re seeing locally:

• Buyers face more competition and need a plan
• Sellers benefit from smart pricing and strong exposure
• Long-term thinking is driving decisions on both sides

Understanding the bigger picture, combined with local market knowledge,  helps buyers and sellers make confident, informed decisions.