$1,532 Closing Credit*
$129,000
925 SqFt
2 Beds
•1 Full Bath
Kim Wenda, Listing Office: RE/MAX Professionals
Is Petersburg, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
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
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $127.2K | $123.2K | -3.2% |
| 3 Bedrooms | $233.4K | $180K | -22.9% |
| 4 Bedrooms | $224K | $295K | +31.7% |
| 5+ Bedrooms | $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 | $250.2K | $301.2K | +20.4% |
| Petersburg | $177.5K | $184.2K | +3.8% |
Housing Supply in Petersburg, IL
How many homes are available in Petersburg, IL?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 16 | +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
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 9 | 10 | +11.1% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 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 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +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
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 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 25 Days | 8 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
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.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.