Is South 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, South Peoria has remained a Seller's Market.
Housing Prices in South Peoria, IL
How much do homes in South Peoria, IL cost?
Median Sold Price
$23,750
$28/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in South Peoria was $23,750 in April 2024, down 12.4% from last year, and the median price per square foot was $28.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $17.5K | $15K | -14.3% |
2 Bedrooms | $25K | $23.1K | -7.4% |
3 Bedrooms | $32K | $32.4K | +1.4% |
4 Bedrooms | $38K | $62K | +63.2% |
5+ Bedrooms | $75.1K | $28.8K | -61.6% |
Summary: South Peoria housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.3%, 2 bedroom homes decreased by 7.4%, 3 bedroom homes increased by 1.4%, 4 bedroom homes increased by 63.2%, and 5+ bedroom homes decreased by 61.6%.
Housing Supply in South Peoria, IL
How many homes are available in South Peoria, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
47 | 44 | -6.4% |
Summary: The South Peoria real estate market had 44 homes for sale in April 2024, a 6.4% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 20 | 20 | 0.0% |
3 Bedrooms | 21 | 19 | -9.5% |
4 Bedrooms | 3 | 2 | -33.3% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The South 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 remained the same, 3 bedroom homes decreased by 9.5%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
7 | 15 | +114.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in South Peoria in April 2024, up by 114.3% month-over-month. Of the 15 sold homes, 47% were sold under asking, 27% were sold at asking, and 27% were sold over asking.
Days on Market for South Peoria, IL
How long does it take to sell a home in South Peoria, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
28 Days | 24 Days | -14.0% |
Summary: Homes in South Peoria had an average of 24 days on market in Apr 2024, down by 14% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 15 homes were sold in South Peoria; 80% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.