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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Central Peoria is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Central Peoria, IL

How much do homes in Central Peoria, IL cost?

Median Sold Price

$133,750

$86/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$6,083(+4.8%)

Key Takeaway

Homes in Central Peoria have sold for 4.8% more than they did a year ago.

Summary: The median home sold price in Central Peoria was $133,750 in October 2024, up 4.8% from last year, and the median price per square foot was $86.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $53K$52K
-1.9%
2 $86.5K$90K
+4.0%
3 $139.9K$142K
+1.5%
4 $180K$186K
+3.3%
5+ $225K$221K
-1.8%

Summary: Central Peoria housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.9%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 1.5%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes decreased by 1.8%.

Housing Supply in Central Peoria, IL

How many homes are available in Central Peoria, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
143134-6.3%

Summary: The Central Peoria real estate market had 134 homes for sale in October 2024, a 6.3% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 44
0.0%
2 3333
0.0%
3 7869
-11.5%
4 2526
+4.0%
5+ 32
-33.3%

Summary: The Central Peoria housing inventory by bedroom type for October 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 11.5%, 4 bedroom homes increased by 4%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
4939-20.4%

Asking Price vs. Sold Price

21 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Central Peoria, you may be able to get a good deal. 53.8% of homes here sold below asking price last month.

Summary: A total of 39 homes were sold or pending in Central Peoria in October 2024, down by 20.4% month-over-month. Of the 39 sold homes, 54% were sold under asking, 10% were sold at asking, and 36% were sold over asking.

Days on Market for Central Peoria, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
14 Days16 Days+19.9%

Summary: Homes in Central Peoria had an average of 16 days on market in Oct 2024, up by 19.9% compared to last year.

Breakdown of Home Sale Times

34 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 39 homes were sold in Central Peoria; 87% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 5% 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 22 Days Ago

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