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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing West Peoria Township is a seller's market

Buyer's
Market

Difference Since August 2023

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

Key Takeaway

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

Housing Prices in West Peoria Township, IL

How much do homes in West Peoria Township, IL cost?

Median Sold Price

$98,500

$76/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2023

-$1,200(-1.2%)

Key Takeaway

Homes in West Peoria Township have sold for 1.2% less than they did a year ago.

Summary: The median home sold price in West Peoria Township was $98,500 in August 2024, down 1.2% from last year, and the median price per square foot was $76.

Median Sold Price By Bedroom Count

# BEDSAug 2023Aug 2024CHANGE
1 -$40K
N/A
2 $80K$78K
-2.5%
3 $112K$120K
+7.1%
4 $122.5K$114.9K
-6.2%
5+ $205.2K$96.2K
-53.1%

Summary: West Peoria Township housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 2.5%, 3 bedroom homes increased by 7.1%, 4 bedroom homes decreased by 6.2%, and 5+ bedroom homes decreased by 53.1%.

Median Sold Price Compared To Nearby Cities

Limestone Township
+8.7%
Creve Coeur
+6.1%
Bartonville
0.0%
West Peoria Township
-1.2%
West Peoria
-1.2%

Housing Supply in West Peoria Township, IL

How many homes are available in West Peoria Township, IL?

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
2531+24.0%

Summary: The West Peoria Township real estate market had 31 homes for sale in August 2024, a 24.0% increase compared to July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 00
0.0%
2 79
+28.6%
3 1416
+14.3%
4 46
+50.0%
5+ 00
0.0%

Summary: The West Peoria Township housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 28.6%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
312+300.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

8 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in West Peoria Township, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.

Summary: A total of 12 homes were sold or pending in West Peoria Township in August 2024, up by 300.0% month-over-month. Of the 12 sold homes, 8% were sold under asking, 67% were sold at asking, and 25% were sold over asking.

Days on Market for West Peoria Township, IL

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

Average Sale Time

Aug 2023Aug 2024CHANGE
23 Days6 Days-72.5%

Summary: Homes in West Peoria Township had an average of 6 days on market in Aug 2024, down by 72.5% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During August 2024, 12 homes were sold in West Peoria Township; 92% of homes were sold within 30 days, 8% 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 20 Days Ago

Newest Listings in West Peoria Township, IL

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What housing markets are near West Peoria Township, IL?