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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Peoria County is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Peoria County, IL

How much do homes in Peoria County, IL cost?

Median Sold Price

$145,000

$91/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$9,262(+6.8%)

Key Takeaway

Homes in Peoria County have sold for 6.8% more than they did a year ago.

Summary: The median home sold price in Peoria County was $145,000 in November 2024, up 6.8% from last year, and the median price per square foot was $91.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $55K$52K
-5.5%
2 $79.9K$80.4K
+0.7%
3 $134.9K$149.9K
+11.1%
4 $220K$240K
+9.1%
5+ $392.5K$378.2K
-3.6%

Summary: Peoria County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.5%, 2 bedroom homes increased by 0.7%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes decreased by 3.6%.

Median Sold Price Compared To Nearby Counties

Tazewell County
+13.8%
Stark County
+11.2%
Peoria County
+6.8%
Woodford County
-2.3%
Knox County
-3.6%

Housing Supply in Peoria County, IL

How many homes are available in Peoria County, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
759658-13.3%

Summary: The Peoria County real estate market had 658 homes for sale in November 2024, a 13.3% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 2120
-4.8%
2 167147
-12.0%
3 331279
-15.7%
4 169154
-8.9%
5+ 7158
-18.3%

Summary: The Peoria County housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 4.8%, 2 bedroom homes decreased by 12%, 3 bedroom homes decreased by 15.7%, 4 bedroom homes decreased by 8.9%, and 5+ bedroom homes decreased by 18.3%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
220180-18.2%

Asking Price vs. Sold Price

108 Homes Were Sold
Under Asking

27 Homes Were Sold
At Asking

45 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Peoria County, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 180 homes were sold or pending in Peoria County in November 2024, down by 18.2% month-over-month. Of the 180 sold homes, 60% were sold under asking, 15% were sold at asking, and 25% were sold over asking.

Days on Market for Peoria County, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
16 Days23 Days+43.6%

Summary: Homes in Peoria County had an average of 23 days on market in Nov 2024, up by 43.6% compared to last year.

Breakdown of Home Sale Times

136 Homes Were Sold
Under 30 Days

34 Homes Were Sold
In 30 - 90 Days

10 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 180 homes were sold in Peoria County; 76% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 6% 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

Newest Listings in Peoria County, IL

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