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 December 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

$134,900

$87/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$4,950(+3.8%)

Key Takeaway

Homes in Central Peoria have sold for 3.8% more than they did a year ago.

Summary: The median home sold price in Central Peoria was $134,900 in December 2024, up 3.8% from last year, and the median price per square foot was $87.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $57.4K$47.4K
-17.4%
2 $87K$90K
+3.4%
3 $142.5K$141.5K
-0.7%
4 $176.2K$189.9K
+7.7%
5+ $225K$245K
+8.9%

Summary: Central Peoria housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 17.4%, 2 bedroom homes increased by 3.4%, 3 bedroom homes decreased by 0.7%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 8.9%.

Housing Supply in Central Peoria, IL

How many homes are available in Central Peoria, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
133126-5.3%

Summary: The Central Peoria real estate market had 126 homes for sale in December 2024, a 5.3% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 55
0.0%
2 3033
+10.0%
3 6861
-10.3%
4 2525
0.0%
5+ 52
-60.0%

Summary: The Central Peoria housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 10%, 3 bedroom homes decreased by 10.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 60%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
4138-7.3%

Asking Price vs. Sold Price

18 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

12 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. 47.4% of homes here sold below asking price last month.

Summary: A total of 38 homes were sold or pending in Central Peoria in December 2024, down by 7.3% month-over-month. Of the 38 sold homes, 47% were sold under asking, 21% were sold at asking, and 32% 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

Dec 2023Dec 2024CHANGE
11 Days28 Days+147.1%

Summary: Homes in Central Peoria had an average of 28 days on market in Dec 2024, up by 147.1% compared to last year.

Breakdown of Home Sale Times

27 Homes Were Sold
Under 30 Days

9 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 December 2024, 38 homes were sold in Central Peoria; 71% of homes were sold within 30 days, 24% 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 2 Days Ago

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