Is Peotone, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Peotone is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

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

+$32,500(+12.4%)

Key Takeaway

Homes in Peotone have sold for 12.4% more than they did a year ago.

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

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $151K$225K
+49.0%
3 $262.5K$303.5K
+15.6%
4 $280K$316K
+12.9%
5+ $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
+12.4%
Peotone Township
+6.9%

Housing Supply in Peotone, IL

How many homes are available in Peotone, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
1615-6.3%

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

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 10
-100.0%
3 79
+28.6%
4 75
-28.6%
5+ 11
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 2024May 2024CHANGE
53-40.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Peotone, you may be able to get a good deal. 100% of homes here sold below asking price last month.

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 2023May 2024CHANGE
10 Days24 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Peotone, IL

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