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Real Estate Market Trends for Peoria and Surrounding Communities

Let’s take a year to date view of the real estate market for Peoria IL and all surrounding communities as a whole.

There have been an average of 2018 homes for sale in 2020, which is 17.7% less than the 2453 homes for sale in 2019 and 13.4% less than the 2834 homes for sale in 2018.

3578 homes have sold this year, which is a 9.0% more than the 3282 homes sold in 2019 and 1.6% less than the 3336 homes sold in 2018.

The average sales price this year of $144,325 is 4.4% more than the 2019 average selling price of  $138,237 and 5.6% less than the average sales price of $146,481 in 2018.

The median sales price in 2020 is $123,000, which is 6.5% more than the median sales price of $115,500 in 2019 and 6.6% less than the median sales price of $123,700 in 2018.  

The average days that sold homes were on the market in 2020 is 79, which is 1.3% more than the 78 days on market in 2019 and 11.4% less than the 88 days on market in 2018.

The median days on market for sold homes in 2020 is 44, an increase of 10.0%  vs. the 40 DOM in 2019 and a 18.4% decrease from the 49 days on market in 2018.  

There has been a 4.1 months supply of inventory in 2020, which is 18.0% less than the 5.0 months supply in 2019 and 18.0% less than the 6.1 months of supply in 2018. When there are 1, 2 or 3 months of supply, it is considered a seller’s market. Four or five months of inventory is considered a balanced market and six or more months of inventory is considered a buyer’s market.

While it’s nice to see what the market is doing as a whole, the real estate market is very different in each community and price range around the Peoria, IL area. If you are thinking about buying or selling a home, it is important to understand what the real estate market is doing in the specific area(s) that you will be buying or selling in.  

Each month, the Rodgers Real Estate Group creates updated real estate market trend reports for Bartonville, Chillicothe, Dunlap, East Peoria, Metamora, Morton, Peoria and Washington. Click on one or more of the towns below to view a real estate market trend update specific to your preferred area(s).

Bartonville Real Estate Market Update

Let's take a look at the Bartonville IL Real Estate Market trends over the past six months.

Chillicothe Real Estate Market Update

Let's take a look at the Chillicothe IL Real Estate Market trends over the past six months

Dunlap Real Estate
Market Update

Let's take a look at the Dunlap IL Real Estate
 Market trends over the past six months.

East Peoria Real Estate Market Update

Let's take a look at the East Peoria IL Real Estate Market trends over the past six months.

Metamora Real Estate Market Update

Let's take a look at the Metamora IL Real Estate Market trends over the past six months

Morton Real Estate
Market Update

Let's take a look at the Morton IL Real Estate
 Market trends over the past six months.

 Peoria Real Estate
 Market Update

Let's take a look at the  Peoria IL Real Estate
 Market trends over the past six months.

 Washington Real Estate Market Update

Let's take a look at the Metamora IL Real Estate Market trends over the past six months

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