Is Peoria City Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Peoria City Township is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Peoria City Township has remained a Seller's Market.

Key Takeaway

Peoria City Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Peoria City Township, IL

How much do homes in Peoria City Township, IL cost?

Median Sold Price

$109,996

$77/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$1,327(+1.2%)

Key Takeaway

Homes in Peoria City Township have sold for 1.2% more than they did a year ago.

Summary: The median home sold price in Peoria City Township was $109,996 in May 2024, up 1.2% from last year, and the median price per square foot was $77.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $50K$55K
+10.0%
2 $66K$65K
-1.6%
3 $117.5K$130K
+10.6%
4 $185K$185K
0.0%
5+ $200K$228K
+14.0%

Summary: Peoria City Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10%, 2 bedroom homes decreased by 1.6%, 3 bedroom homes increased by 10.6%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 14%.

Median Sold Price Compared To Nearby Cities

Peoria Heights
+5.3%
Peoria Heights
+4.6%
Richwoods Township
+4.5%
Peoria
+2.5%
Peoria City Township
+1.2%

Housing Supply in Peoria City Township, IL

How many homes are available in Peoria City Township, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
384405+5.5%

Summary: The Peoria City Township real estate market had 405 homes for sale in May 2024, a 5.5% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 1513
-13.3%
2 100102
+2.0%
3 172193
+12.2%
4 7974
-6.3%
5+ 1823
+27.8%

Summary: The Peoria City Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 13.3%, 2 bedroom homes increased by 2%, 3 bedroom homes increased by 12.2%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes increased by 27.8%.

Number of Homes Sold

Apr 2024May 2024CHANGE
108155+43.5%

Asking Price vs. Sold Price

67 Homes Were Sold
Under Asking

28 Homes Were Sold
At Asking

60 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Peoria City Township, you may be able to get a good deal. 43.2% of homes here sold below asking price last month.

Summary: A total of 155 homes were sold or pending in Peoria City Township in May 2024, up by 43.5% month-over-month. Of the 155 sold homes, 43% were sold under asking, 18% were sold at asking, and 39% were sold over asking.

Days on Market for Peoria City Township, IL

How long does it take to sell a home in Peoria City Township, IL?

Average Sale Time

May 2023May 2024CHANGE
25 Days19 Days-24.8%

Summary: Homes in Peoria City Township had an average of 19 days on market in May 2024, down by 24.8% compared to last year.

Breakdown of Home Sale Times

123 Homes Were Sold
Under 30 Days

25 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Peoria City Township are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 155 homes were sold in Peoria City Township; 79% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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