Is Peru, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Peru is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Peru, IL

How much do homes in Peru, IL cost?

Median Sold Price

$167,450

$127/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$6,450(+4.0%)

Key Takeaway

Homes in Peru have sold for 4% more than they did a year ago.

Summary: The median home sold price in Peru was $167,450 in November 2024, up 4% from last year, and the median price per square foot was $127.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 -$96K
N/A
2 $118K$131.5K
+11.4%
3 $193K$186K
-3.6%
4 $165K$193.7K
+17.4%
5+ $146.9K$201K
+36.8%

Summary: Peru housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 11.4%, 3 bedroom homes decreased by 3.6%, 4 bedroom homes increased by 17.4%, and 5+ bedroom homes increased by 36.8%.

Median Sold Price Compared To Nearby Cities

LaSalle Township
+27.1%
LaSalle
+20.8%
Peru Township
+4.1%
Peru
+4.0%

Housing Supply in Peru, IL

How many homes are available in Peru, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
2729+7.4%

Summary: The Peru real estate market had 29 homes for sale in November 2024, a 7.4% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 58
+60.0%
3 1614
-12.5%
4 35
+66.7%
5+ 21
-50.0%

Summary: The Peru housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 60%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
67+16.7%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Peru, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.

Summary: A total of 7 homes were sold or pending in Peru in November 2024, up by 16.7% month-over-month. Of the 7 sold homes, 29% were sold under asking, 29% were sold at asking, and 43% were sold over asking.

Days on Market for Peru, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
21 Days13 Days-37.7%

Summary: Homes in Peru had an average of 13 days on market in Nov 2024, down by 37.7% compared to last year.

Breakdown of Home Sale Times

6 Homes Were 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 Peru are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 7 homes were sold in Peru; 86% of homes were sold within 30 days, 14% 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 17 Days Ago

Newest Listings in Peru, IL

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