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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Peoria County is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Peoria County, IL

How much do homes in Peoria County, IL cost?

Median Sold Price

$134,853

$87/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$5,049(+3.9%)

Key Takeaway

Homes in Peoria County have sold for 3.9% more than they did a year ago.

Summary: The median home sold price in Peoria County was $134,853 in March 2024, up 3.9% from last year, and the median price per square foot was $87.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $50K$56.2K
+12.5%
2 $75.9K$75.2K
-1.0%
3 $127.4K$139.9K
+9.8%
4 $208.5K$232.7K
+11.6%
5+ $375K$375K
0.0%

Summary: Peoria County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.5%, 2 bedroom homes decreased by 1%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 11.6%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Counties

Woodford County
+16.9%
Knox County
+12.6%
Tazewell County
+10.1%
Peoria County
+3.9%

Housing Supply in Peoria County, IL

How many homes are available in Peoria County, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
645637-1.2%

Summary: The Peoria County real estate market had 637 homes for sale in March 2024, a 1.2% decrease compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 2721
-22.2%
2 197163
-17.3%
3 249264
+6.0%
4 125135
+8.0%
5+ 4754
+14.9%

Summary: The Peoria County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 22.2%, 2 bedroom homes decreased by 17.3%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 14.9%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
206183-11.2%

Asking Price vs. Sold Price

99 Homes Were Sold
Under Asking

36 Homes Were Sold
At Asking

48 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Peoria County, you may be able to get a good deal. 54.1% of homes here sold below asking price last month.

Summary: A total of 183 homes were sold or pending in Peoria County in March 2024, down by 11.2% month-over-month. Of the 183 sold homes, 54% were sold under asking, 20% were sold at asking, and 26% were sold over asking.

Days on Market for Peoria County, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
40 Days25 Days-37.3%

Summary: Homes in Peoria County had an average of 25 days on market in Mar 2024, down by 37.3% compared to last year.

Breakdown of Home Sale Times

132 Homes Were Sold
Under 30 Days

39 Homes Were Sold
In 30 - 90 Days

12 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 183 homes were sold in Peoria County; 72% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 7% 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 22 Days Ago

Newest Listings in Peoria County, IL

Nearby Markets to Peoria County, IL

What housing markets are near Peoria County, IL?