Ag and residential property transfers highlight May real estate activity in Knox County

June 1, 2026 - 23:37

Knox County saw a busy month for property transfers in May, with several large agricultural tracts and high-value residential sales topping the list. County records show that farmland transactions were particularly notable, including the sale of a 320-acre grain operation near Galesburg that changed hands for $1.2 million. Another significant deal involved a 180-acre cattle ranch west of Knoxville, purchased by a family farming operation for $875,000.

On the residential side, the market remained active with a mix of older homes and newer construction. The priciest single-family home sale was a four-bedroom house in the Lake Bracken area, which sold for $415,000. Several starter homes in the $120,000 to $180,000 range also closed, indicating steady demand from first-time buyers.

Local real estate agents noted that inventory remains tight, with many listings receiving multiple offers within the first week. The average days on market for residential properties dropped to 22 days in May, down from 35 days in the same month last year. Meanwhile, commercial property transfers were quieter, with only a handful of small retail and office spaces changing owners.

the May figures suggest a robust market driven by strong agricultural commodity prices and low mortgage rates, though some agents caution that rising construction costs could slow new home development in the coming months.