Is Peoria County, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Peoria County has remained a Seller's Market.
Housing Prices in Peoria County, IL
How much do homes in Peoria County, IL cost?
Median Sold Price
$136,048
$88/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Peoria County was $136,048 in May 2024, up 3% from last year, and the median price per square foot was $88.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $50K | $55.5K | +11.0% |
2 Bedrooms | $75K | $80K | +6.7% |
3 Bedrooms | $129.5K | $141K | +8.9% |
4 Bedrooms | $215.1K | $226.9K | +5.5% |
5+ Bedrooms | $374.2K | $375K | 0.2% |
Summary: Peoria County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes increased by 0.2%.
Median Sold Price Compared To Nearby Counties
Woodford County | $185K | $221.2K | +19.6% |
Knox County | $98.6K | $105.5K | +7.0% |
Tazewell County | $149.8K | $160K | +6.7% |
Peoria County | $132K | $136K | +3.0% |
Housing Supply in Peoria County, IL
How many homes are available in Peoria County, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
670 | 699 | +4.3% |
Summary: The Peoria County real estate market had 699 homes for sale in May 2024, a 4.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 17 | 16 | -5.9% |
2 Bedrooms | 151 | 153 | +1.3% |
3 Bedrooms | 284 | 303 | +6.7% |
4 Bedrooms | 149 | 153 | +2.7% |
5+ Bedrooms | 69 | 74 | +7.2% |
Summary: The Peoria County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 5.9%, 2 bedroom homes increased by 1.3%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 7.2%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
206 | 253 | +22.8% |
Asking Price vs. Sold Price
112 Homes Were Sold
Under Asking
45 Homes Were Sold
At Asking
96 Homes Were Sold
Over Asking
Summary: A total of 253 homes were sold or pending in Peoria County in May 2024, up by 22.8% month-over-month. Of the 253 sold homes, 44% were sold under asking, 18% were sold at asking, and 38% were sold over asking.
Days on Market for Peoria County, IL
How long does it take to sell a home in Peoria County, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
25 Days | 20 Days | -19.0% |
Summary: Homes in Peoria County had an average of 20 days on market in May 2024, down by 19% compared to last year.
Breakdown of Home Sale Times
202 Homes Were Sold
Under 30 Days
36 Homes Were Sold
In 30 - 90 Days
15 Homes Were Sold
Over 90 Days
Summary: During May 2024, 253 homes were sold in Peoria County; 80% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.