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 November 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

$180,000

$104/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$13,000(+7.8%)

Key Takeaway

Homes in East Peoria have sold for 7.8% more than they did a year ago.

Summary: The median home sold price in East Peoria was $180,000 in November 2024, up 7.8% from last year, and the median price per square foot was $104.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $40.5K$62K
+53.1%
2 $93K$105K
+12.9%
3 $177.5K$171K
-3.7%
4 $210K$243.7K
+16.1%
5+ $355K$380K
+7.0%

Summary: East Peoria housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 53.1%, 2 bedroom homes increased by 12.9%, 3 bedroom homes decreased by 3.7%, 4 bedroom homes increased by 16.1%, and 5+ bedroom homes increased by 7%.

Median Sold Price Compared To Nearby Cities

Fondulac Township
+22.5%
Creve Coeur
+22.0%
Morton
+17.0%
East Peoria
+7.8%
Groveland Township
+4.4%

Housing Supply in East Peoria, IL

How many homes are available in East Peoria, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
107101-5.6%

Summary: The East Peoria real estate market had 101 homes for sale in November 2024, a 5.6% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 20
-100.0%
2 1922
+15.8%
3 5352
-1.9%
4 2623
-11.5%
5+ 74
-42.9%

Summary: The East Peoria housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 15.8%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes decreased by 11.5%, and 5+ bedroom homes decreased by 42.9%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2838+35.7%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

15 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. 50% of homes here sold below asking price last month.

Summary: A total of 38 homes were sold or pending in East Peoria in November 2024, up by 35.7% month-over-month. Of the 38 sold homes, 50% were sold under asking, 11% were sold at asking, and 39% 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

Nov 2023Nov 2024CHANGE
16 Days16 Days-0.2%

Summary: Homes in East Peoria had an average of 16 days on market in Nov 2024, down by 0.2% compared to last year.

Breakdown of Home Sale Times

32 Homes Were Sold
Under 30 Days

4 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 November 2024, 38 homes were sold in East Peoria; 84% of homes were sold within 30 days, 11% 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 21 Days Ago

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