Is Pekin Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Pekin Township is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Pekin Township, IL

How much do homes in Pekin Township, IL cost?

Median Sold Price

$125,000

$88/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$7,016(+5.9%)

Key Takeaway

Homes in Pekin Township have sold for 5.9% more than they did a year ago.

Summary: The median home sold price in Pekin Township was $125,000 in October 2024, up 5.9% from last year, and the median price per square foot was $88.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $45K$36.5K
-18.9%
2 $90K$94.5K
+5.0%
3 $122K$137.5K
+12.7%
4 $157.5K$153.9K
-2.3%
5+ $222.4K$183.2K
-17.6%

Summary: Pekin Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 18.9%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 12.7%, 4 bedroom homes decreased by 2.3%, and 5+ bedroom homes decreased by 17.6%.

Median Sold Price Compared To Nearby Cities

Pekin Township
+5.9%
Pekin
+3.1%

Housing Supply in Pekin Township, IL

How many homes are available in Pekin Township, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
124127+2.4%

Summary: The Pekin Township real estate market had 127 homes for sale in October 2024, a 2.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 14
+300.0%
2 3543
+22.9%
3 5954
-8.5%
4 2422
-8.3%
5+ 54
-20.0%

Summary: The Pekin Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 300%, 2 bedroom homes increased by 22.9%, 3 bedroom homes decreased by 8.5%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes decreased by 20%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
4836-25.0%

Asking Price vs. Sold Price

18 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Pekin Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 36 homes were sold or pending in Pekin Township in October 2024, down by 25.0% month-over-month. Of the 36 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.

Days on Market for Pekin Township, IL

How long does it take to sell a home in Pekin Township, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
15 Days22 Days+42.9%

Summary: Homes in Pekin Township had an average of 22 days on market in Oct 2024, up by 42.9% compared to last year.

Breakdown of Home Sale Times

26 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 36 homes were sold in Pekin Township; 72% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 3% 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

Newest Listings in Pekin Township, IL

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What housing markets are near Pekin Township, IL?