Is 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, Peoria has remained a Seller's Market.
Housing Prices in Peoria, IL
How much do homes in Peoria, IL cost?
Median Sold Price
$126,355
$83/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Peoria was $126,355 in April 2024, up 1.1% from last year, and the median price per square foot was $83.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $48.5K | $55K | +13.4% |
2 Bedrooms | $67.7K | $69K | +1.9% |
3 Bedrooms | $120.8K | $135K | +11.7% |
4 Bedrooms | $210.3K | $220K | +4.6% |
5+ Bedrooms | $380K | $381.2K | 0.3% |
Summary: Peoria housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.4%, 2 bedroom homes increased by 1.9%, 3 bedroom homes increased by 11.7%, 4 bedroom homes increased by 4.6%, and 5+ bedroom homes increased by 0.3%.
Median Sold Price Compared To Nearby Cities
Peoria Heights | $109.4K | $119.9K | +9.6% |
Peoria Heights | $109.9K | $120K | +9.2% |
Richwoods Township | $109.9K | $119.9K | +9.1% |
Peoria | $124.9K | $126.3K | +1.1% |
Peoria City Township | $106.8K | $106.7K | -0.1% |
Housing Supply in Peoria, IL
How many homes are available in Peoria, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
457 | 464 | +1.5% |
Summary: The Peoria real estate market had 464 homes for sale in April 2024, a 1.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 20 | 16 | -20.0% |
2 Bedrooms | 113 | 108 | -4.4% |
3 Bedrooms | 178 | 192 | +7.9% |
4 Bedrooms | 105 | 99 | -5.7% |
5+ Bedrooms | 41 | 49 | +19.5% |
Summary: The Peoria housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes decreased by 4.4%, 3 bedroom homes increased by 7.9%, 4 bedroom homes decreased by 5.7%, and 5+ bedroom homes increased by 19.5%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
144 | 128 | -11.1% |
Asking Price vs. Sold Price
64 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
45 Homes Were Sold
Over Asking
Summary: A total of 128 homes were sold or pending in Peoria in April 2024, down by 11.1% month-over-month. Of the 128 sold homes, 50% were sold under asking, 15% were sold at asking, and 35% were sold over asking.
Days on Market for Peoria, IL
How long does it take to sell a home in Peoria, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
26 Days | 25 Days | -3.9% |
Summary: Homes in Peoria had an average of 25 days on market in Apr 2024, down by 3.9% compared to last year.
Breakdown of Home Sale Times
99 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Summary: During April 2024, 128 homes were sold in Peoria; 77% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.