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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Peotone Township is a buyer's market

Buyer's
Market

Difference Since December 2023

At the same time last year, Peotone Township was a Seller's Market.

Key Takeaway

Peotone Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Peotone Township, IL

How much do homes in Peotone Township, IL cost?

Median Sold Price

$328,500

$162/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$33,500(+11.4%)

Key Takeaway

Homes in Peotone Township have sold for 11.4% more than they did a year ago.

Summary: The median home sold price in Peotone Township was $328,500 in December 2024, up 11.4% from last year, and the median price per square foot was $162.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 --
N/A
2 $195K$230K
+17.9%
3 $307.5K$351.4K
+14.3%
4 $310K$341K
+10.0%
5+ $260.5K$575K
+120.7%

Summary: Peotone Township housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 17.9%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 120.7%.

Median Sold Price Compared To Nearby Cities

Monee Township
+11.5%
Peotone Township
+11.4%
Peotone
+11.4%
Green Garden Township
+6.1%

Housing Supply in Peotone Township, IL

How many homes are available in Peotone Township, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
1715-11.8%

Summary: The Peotone Township real estate market had 15 homes for sale in December 2024, a 11.8% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 00
0.0%
2 00
0.0%
3 98
-11.1%
4 54
-20.0%
5+ 33
0.0%

Summary: The Peotone Township housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 11.1%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
52-60.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Peotone Township, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Peotone Township in December 2024, down by 60.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Peotone Township, IL

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

Average Sale Time

Dec 2023Dec 2024CHANGE
19 Days24 Days+23.1%

Summary: Homes in Peotone Township had an average of 24 days on market in Dec 2024, up by 23.1% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During December 2024, 2 homes were sold in Peotone Township; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% 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 4 Days Ago

Newest Listings in Peotone Township, IL

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What housing markets are near Peotone Township, IL?