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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing East Peoria is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in East Peoria, IL

How much do homes in East Peoria, IL cost?

Median Sold Price

$177,333

$103/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$13,000(+7.9%)

Key Takeaway

Homes in East Peoria have sold for 7.9% more than they did a year ago.

Summary: The median home sold price in East Peoria was $177,333 in October 2024, up 7.9% from last year, and the median price per square foot was $103.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $43K$47.2K
+9.9%
2 $93K$108.5K
+16.7%
3 $175.5K$170K
-3.1%
4 $210K$245K
+16.7%
5+ $350K$380K
+8.6%

Summary: East Peoria housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.9%, 2 bedroom homes increased by 16.7%, 3 bedroom homes decreased by 3.1%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 8.6%.

Median Sold Price Compared To Nearby Cities

Fondulac Township
+24.6%
Morton
+16.1%
Creve Coeur
+12.7%
East Peoria
+7.9%
Groveland Township
+4.6%

Housing Supply in East Peoria, IL

How many homes are available in East Peoria, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
91105+15.4%

Summary: The East Peoria real estate market had 105 homes for sale in October 2024, a 15.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 13
+200.0%
2 1218
+50.0%
3 4453
+20.5%
4 2625
-3.8%
5+ 86
-25.0%

Summary: The East Peoria housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 20.5%, 4 bedroom homes decreased by 3.8%, and 5+ bedroom homes decreased by 25%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3028-6.7%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in East Peoria, you may be able to get a good deal. 46.4% of homes here sold below asking price last month.

Summary: A total of 28 homes were sold or pending in East Peoria in October 2024, down by 6.7% month-over-month. Of the 28 sold homes, 46% were sold under asking, 39% were sold at asking, and 14% were sold over asking.

Days on Market for East Peoria, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
19 Days18 Days-3.4%

Summary: Homes in East Peoria had an average of 18 days on market in Oct 2024, down by 3.4% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 28 homes were sold in East Peoria; 71% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 7% 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 20 Days Ago

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