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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Pekin Township is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Pekin Township, IL

How much do homes in Pekin Township, IL cost?

Median Sold Price

$122,250

$88/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$25,620(+26.5%)

Key Takeaway

Homes in Pekin Township have sold for 26.5% more than they did a year ago.

Summary: The median home sold price in Pekin Township was $122,250 in March 2024, up 26.5% from last year, and the median price per square foot was $88.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $43K$36.5K
-15.1%
2 $81K$89.9K
+11.0%
3 $105K$126.9K
+20.9%
4 $132.9K$159K
+19.6%
5+ $142.5K$230K
+61.4%

Summary: Pekin Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.1%, 2 bedroom homes increased by 11%, 3 bedroom homes increased by 20.9%, 4 bedroom homes increased by 19.6%, and 5+ bedroom homes increased by 61.4%.

Median Sold Price Compared To Nearby Cities

Pekin Township
+26.5%
Pekin
+15.8%
Marquette Heights
+12.5%

Housing Supply in Pekin Township, IL

How many homes are available in Pekin Township, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
109108-0.9%

Summary: The Pekin Township real estate market had 108 homes for sale in March 2024, a 0.9% decrease compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 26
+200.0%
2 3935
-10.3%
3 4243
+2.4%
4 2018
-10.0%
5+ 66
0.0%

Summary: The Pekin Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes decreased by 10.3%, 3 bedroom homes increased by 2.4%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
3536+2.9%

Asking Price vs. Sold Price

18 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Pekin Township, you may be able to get a good deal. 51.4% of homes here sold below asking price last month.

Summary: A total of 36 homes were sold or pending in Pekin Township in March 2024, up by 2.9% month-over-month. Of the 35 sold homes, 51% were sold under asking, 23% were sold at asking, and 26% 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

Mar 2023Mar 2024CHANGE
31 Days19 Days-36.5%

Summary: Homes in Pekin Township had an average of 19 days on market in Mar 2024, down by 36.5% compared to last year.

Breakdown of Home Sale Times

28 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 36 homes were sold in Pekin Township; 78% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 3% 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 26 Days Ago

Newest Listings in Pekin Township, IL

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What housing markets are near Pekin Township, IL?