Is Peotone, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Peotone has remained a Seller's Market.
Housing Prices in Peotone, IL
How much do homes in Peotone, IL cost?
Median Sold Price
$295,000
$157/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Peotone was $295,000 in May 2024, up 12.4% from last year, and the median price per square foot was $157.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $151K | $225K | +49.0% |
3 Bedrooms | $262.5K | $303.5K | +15.6% |
4 Bedrooms | $280K | $316K | +12.9% |
5+ Bedrooms | $360K | $260.5K | -27.6% |
Summary: Peotone housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 49%, 3 bedroom homes increased by 15.6%, 4 bedroom homes increased by 12.9%, and 5+ bedroom homes decreased by 27.6%.
Median Sold Price Compared To Nearby Cities
Peotone | $262.5K | $295K | +12.4% |
Peotone Township | $276K | $295K | +6.9% |
Housing Supply in Peotone, IL
How many homes are available in Peotone, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
16 | 15 | -6.3% |
Summary: The Peotone real estate market had 15 homes for sale in May 2024, a 6.3% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 0 | -100.0% |
3 Bedrooms | 7 | 9 | +28.6% |
4 Bedrooms | 7 | 5 | -28.6% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Peotone housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes increased by 28.6%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
5 | 3 | -40.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Peotone in May 2024, down by 40.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Peotone, IL
How long does it take to sell a home in Peotone, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
10 Days | 24 Days | +137.4% |
Summary: Homes in Peotone had an average of 24 days on market in May 2024, up by 137.4% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 3 homes were sold in Peotone; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.