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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Peoria City Township is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Peoria City Township, IL

How much do homes in Peoria City Township, IL cost?

Median Sold Price

$114,977

$79/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$7,475(+7.0%)

Key Takeaway

Homes in Peoria City Township have sold for 7% more than they did a year ago.

Summary: The median home sold price in Peoria City Township was $114,977 in October 2024, up 7% from last year, and the median price per square foot was $79.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $55K$52K
-5.5%
2 $69.3K$64.9K
-6.3%
3 $118.2K$135.2K
+14.4%
4 $185K$187.5K
+1.4%
5+ $225K$220.5K
-2.0%

Summary: Peoria City Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.5%, 2 bedroom homes decreased by 6.3%, 3 bedroom homes increased by 14.4%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes decreased by 2%.

Median Sold Price Compared To Nearby Cities

Peoria City Township
+7.0%
Peoria
+4.7%
Richwoods Township
0.0%
Peoria Heights
0%
Peoria Heights
-2.5%

Housing Supply in Peoria City Township, IL

How many homes are available in Peoria City Township, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
416425+2.2%

Summary: The Peoria City Township real estate market had 425 homes for sale in October 2024, a 2.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 1920
+5.3%
2 116110
-5.2%
3 180188
+4.4%
4 8081
+1.3%
5+ 2126
+23.8%

Summary: The Peoria City Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 5.3%, 2 bedroom homes decreased by 5.2%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 1.3%, and 5+ bedroom homes increased by 23.8%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
122108-11.5%

Asking Price vs. Sold Price

65 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

31 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Peoria City Township, you may be able to get a good deal. 60.2% of homes here sold below asking price last month.

Summary: A total of 108 homes were sold or pending in Peoria City Township in October 2024, down by 11.5% month-over-month. Of the 108 sold homes, 60% were sold under asking, 11% were sold at asking, and 29% were sold over asking.

Days on Market for Peoria City Township, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
30 Days17 Days-42.2%

Summary: Homes in Peoria City Township had an average of 17 days on market in Oct 2024, down by 42.2% compared to last year.

Breakdown of Home Sale Times

87 Homes Were Sold
Under 30 Days

19 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 108 homes were sold in Peoria City Township; 81% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 2% 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 16 Days Ago

Newest Listings in Peoria City Township, IL

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