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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Petersburg is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Petersburg, IL

How much do homes in Petersburg, IL cost?

Median Sold Price

$184,200

$106/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$6,700(+3.8%)

Key Takeaway

Homes in Petersburg have sold for 3.8% more than they did a year ago.

Summary: The median home sold price in Petersburg was $184,200 in October 2024, up 3.8% from last year, and the median price per square foot was $106.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $127.2K$123.2K
-3.2%
3 $233.4K$180K
-22.9%
4 $224K$295K
+31.7%
5+ $113.7K$168.9K
+48.5%

Summary: Petersburg 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 decreased by 3.2%, 3 bedroom homes decreased by 22.9%, 4 bedroom homes increased by 31.7%, and 5+ bedroom homes increased by 48.5%.

Median Sold Price Compared To Nearby Cities

Petersburg South No. 15
+20.4%
Petersburg
+3.8%

Housing Supply in Petersburg, IL

How many homes are available in Petersburg, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1416+14.3%

Summary: The Petersburg real estate market had 16 homes for sale in October 2024, a 14.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 12
+100.0%
3 910
+11.1%
4 44
0.0%
5+ 00
0.0%

Summary: The Petersburg housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 11.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
45+25.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Petersburg, you may be able to get a good deal. 40% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Petersburg in October 2024, up by 25.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.

Days on Market for Petersburg, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
25 Days8 Days-66.0%

Summary: Homes in Petersburg had an average of 8 days on market in Oct 2024, down by 66% compared to last year.

Breakdown of Home Sale Times

4 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 Petersburg are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 5 homes were sold in Petersburg; 80% of homes were sold within 30 days, 20% 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 Petersburg, IL

Nearby Markets to Petersburg, IL