Is Peotone, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Peotone is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Peotone has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Peotone, IL

How much do homes in Peotone, IL cost?

Median Sold Price

$295,000

$157/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$32,500(+12.4%)

Key Takeaway

Homes in Peotone have sold for 12.4% more than they did a year ago.

Summary: The median home sold price in Peotone was $295,000 in May 2024, up 12.4% from last year, and the median price per square foot was $157.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $151K$225K
+49.0%
3 $262.5K$303.5K
+15.6%
4 $280K$316K
+12.9%
5+ $360K$260.5K
-27.6%

Summary: Peotone housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 49%, 3 bedroom homes increased by 15.6%, 4 bedroom homes increased by 12.9%, and 5+ bedroom homes decreased by 27.6%.

Median Sold Price Compared To Nearby Cities

Peotone
+12.4%
Peotone Township
+6.9%

Housing Supply in Peotone, IL

How many homes are available in Peotone, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
1615-6.3%

Summary: The Peotone real estate market had 15 homes for sale in May 2024, a 6.3% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 10
-100.0%
3 79
+28.6%
4 75
-28.6%
5+ 11
0.0%

Summary: The Peotone 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 decreased by 100%, 3 bedroom homes increased by 28.6%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
53-40.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Peotone, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Peotone in May 2024, down by 40.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Peotone, IL

How long does it take to sell a home in Peotone, IL?

Average Sale Time

May 2023May 2024CHANGE
10 Days24 Days+137.4%

Summary: Homes in Peotone had an average of 24 days on market in May 2024, up by 137.4% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 3 homes were sold in Peotone; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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 16 Days Ago

Newest Listings in Peotone, IL

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