Is Pekin Township, 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, Pekin Township has remained a Seller's Market.
Housing Prices in Pekin Township, IL
How much do homes in Pekin Township, IL cost?
Median Sold Price
$124,900
$87/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Pekin Township was $124,900 in May 2024, up 24.9% from last year, and the median price per square foot was $87.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $38.4K | $36.5K | -5.1% |
2 Bedrooms | $87.4K | $89.9K | +2.8% |
3 Bedrooms | $112K | $127.5K | +13.8% |
4 Bedrooms | $142K | $157K | +10.6% |
5+ Bedrooms | $120K | $235K | +95.8% |
Summary: Pekin Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.1%, 2 bedroom homes increased by 2.8%, 3 bedroom homes increased by 13.8%, 4 bedroom homes increased by 10.6%, and 5+ bedroom homes increased by 95.8%.
Median Sold Price Compared To Nearby Cities
Pekin Township | $100K | $124.9K | +24.9% |
Marquette Heights | $115K | $128K | +11.3% |
Pekin | $112.8K | $125K | +10.8% |
Housing Supply in Pekin Township, IL
How many homes are available in Pekin Township, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
113 | 104 | -8.0% |
Summary: The Pekin Township real estate market had 104 homes for sale in May 2024, a 8.0% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 4 | 0.0% |
2 Bedrooms | 35 | 38 | +8.6% |
3 Bedrooms | 44 | 39 | -11.4% |
4 Bedrooms | 23 | 20 | -13.0% |
5+ Bedrooms | 7 | 3 | -57.1% |
Summary: The Pekin Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 8.6%, 3 bedroom homes decreased by 11.4%, 4 bedroom homes decreased by 13%, and 5+ bedroom homes decreased by 57.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
48 | 41 | -14.6% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Summary: A total of 41 homes were sold or pending in Pekin Township in May 2024, down by 14.6% month-over-month. Of the 41 sold homes, 39% were sold under asking, 20% were sold at asking, and 41% were sold over asking.
Days on Market for Pekin Township, IL
How long does it take to sell a home in Pekin Township, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
16 Days | 18 Days | +9.2% |
Summary: Homes in Pekin Township had an average of 18 days on market in May 2024, up by 9.2% compared to last year.
Breakdown of Home Sale Times
34 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During May 2024, 41 homes were sold in Pekin Township; 83% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.