Peoria IL Real Estate Market Update
August 2020

Let's take a look at the Peoria IL Real Estate Market trends over the past six months. This report consists of properties that are located in Peoria, IL. It includes all residential properties including single family and single family attached properties but does not include lots.

Peoria IL Real Estate - Homes for Sale

There are currently (08/09/2020) 507 properties for sale. The average days on market is 112 and the median days on market is 51 days. The average list price is $159,421 and the median asking price is $114,900.

There are 213 properties that are pending, meaning that they have already accepted offers but have not yet closed. The pending ratio is 30% (213 divided by 507).

Peoria homes that sold within the past 6 months

There have been 935 properties that have sold and closed within the last six months. The average original asking price was $144,156 and the final asking price (after price reductions) was $138,481. The average sales price was $132,883 so the final list price to sales price ratio was 96%. The median original asking price was $122,900 and the final median asking price was $116,900. The median sale price was $114,000 so the final median asking price to sales price ration was 98%.

The average days on market for sold properties was 79 days and the median days on market for sold properties was 40 days.

Peoria homes that did not sell

There were 348 homes that were listed for sale that came off of the market without selling. Listings may fail to sell for many reasons such as being priced too high, having been inadequately marketed, the property was in poor condition, or perhaps the owner had second thoughts about selling at this particular time.

Active Listings

507

Average Asking Price

$159,421

Median Asking Price

$114,900

Average Sold Price

$132,883

Median Sold Price

$114,000

Like this information but want more?

Keep your thumb on the pulse of the Peoria Real Estate Market with our 7-page market trend updates. These comprehensive monthly reports break down everything you need to know about the Peoria Real Estate Market.

Here are some of the questions that will be answered when you sign up for the Peoria  Housing Market Report:

  • How quickly or slowly are homes selling?
  •  Is it a buyer's or sellers' market?
  •  What's the supply vs. the demand?
  • What % of homes sell vs don't sell?
  • What price ranges are selling the best and the worst?
  • How close to asking price are homes selling?
  • Are prices trending up or down?

If you are looking to buy or sell a home in the Peoria area, we would love to hear from you. Call us at (309) 693-1133 or Contact us here.