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 October 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

$168,450

$127/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$7,450(+4.6%)

Key Takeaway

Homes in Peru have sold for 4.6% more than they did a year ago.

Summary: The median home sold price in Peru was $168,450 in October 2024, up 4.6% from last year, and the median price per square foot was $127.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$96K
N/A
2 $118K$135K
+14.4%
3 $189.5K$188.5K
-0.5%
4 $170K$185.2K
+9.0%
5+ $154K$197K
+27.9%

Summary: Peru housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 14.4%, 3 bedroom homes decreased by 0.5%, 4 bedroom homes increased by 9%, and 5+ bedroom homes increased by 27.9%.

Median Sold Price Compared To Nearby Cities

LaSalle Township
+14.7%
Peru Township
+4.7%
Peru
+4.6%
LaSalle
-4.2%

Housing Supply in Peru, IL

How many homes are available in Peru, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
26260.0%

Summary: The Peru real estate market had 26 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 01
+100.0%
2 35
+66.7%
3 1915
-21.1%
4 33
0.0%
5+ 12
+100.0%

Summary: The Peru housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 66.7%, 3 bedroom homes decreased by 21.1%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
86-25.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Peru, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 6 homes were sold or pending in Peru in October 2024, down by 25.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 50% were sold at asking, and 17% 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

Oct 2023Oct 2024CHANGE
13 Days15 Days+20.5%

Summary: Homes in Peru had an average of 15 days on market in Oct 2024, up by 20.5% compared to last year.

Breakdown of Home Sale Times

5 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 October 2024, 6 homes were sold in Peru; 83% of homes were sold within 30 days, 17% 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 16 Days Ago

Newest Listings in Peru, IL

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