Is East Peoria, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, East Peoria has remained a Seller's Market.
Key Takeaway
East Peoria is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in East Peoria, IL
How much do homes in East Peoria, IL cost?
Median Sold Price
$170,587
$98/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in East Peoria have sold for 13.7% more than they did a year ago.
Summary: The median home sold price in East Peoria was $170,587 in April 2024, up 13.7% from last year, and the median price per square foot was $98.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $63K | $38K | -39.7% |
| 2 Bedrooms | $99.9K | $92.5K | -7.4% |
| 3 Bedrooms | $157.6K | $175K | +11.0% |
| 4 Bedrooms | $210K | $225.1K | +7.2% |
| 5+ Bedrooms | $271.4K | $381.5K | +40.5% |
Summary: East Peoria housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 39.7%, 2 bedroom homes decreased by 7.4%, 3 bedroom homes increased by 11%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes increased by 40.5%.
Median Sold Price Compared To Nearby Cities
| Creve Coeur | $76K | $91.9K | +21.0% |
| Groveland Township | $140.5K | $160K | +13.9% |
| East Peoria | $150K | $170.5K | +13.7% |
| Fondulac Township | $153.3K | $170K | +10.9% |
| Morton | $227.5K | $246K | +8.1% |
Housing Supply in East Peoria, IL
How many homes are available in East Peoria, IL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 81 | 92 | +13.6% |
Summary: The East Peoria real estate market had 92 homes for sale in April 2024, a 13.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 13 | 19 | +46.2% |
| 3 Bedrooms | 44 | 46 | +4.5% |
| 4 Bedrooms | 20 | 21 | +5.0% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The East Peoria housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 46.2%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 19 | 26 | +36.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in East Peoria, you could pay more than the asking price. 53.8% of homes here sold above asking price last month.
Summary: A total of 26 homes were sold or pending in East Peoria in April 2024, up by 36.8% month-over-month. Of the 26 sold homes, 23% were sold under asking, 23% were sold at asking, and 54% were sold over asking.
Days on Market for East Peoria, IL
How long does it take to sell a home in East Peoria, IL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 18 Days | 8 Days | -52.3% |
Summary: Homes in East Peoria had an average of 8 days on market in Apr 2024, down by 52.3% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in East Peoria are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 26 homes were sold in East Peoria; 96% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.