Peoria IL Real Estate Market Update
September 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 (09/06/2020) 503 properties for sale. The average days on market is 109 and the median days on market is 52 days. The average list price is $154,964 and the median asking price is $112,000.

There are 193 properties that are pending, meaning that they have already accepted offers but have not yet closed. The pending ratio is 28% (193 divided by 503).

Peoria homes that sold within the past 6 months

There have been 1035 properties that have sold and closed within the last six months. The average original asking price was $146,747 and the final asking price (after price reductions) was $141,396. The average sales price was $136,087 so the final list price to sales price ratio was 96%. The median original asking price was $125,000 and the final median asking price was $119,900. The median sale price was $117,000 so the final median asking price to sales price ration was 98%.

The average days on market for sold properties was 73 days and the median days on market for sold properties was 33 days.

Peoria homes that did not sell

There were 333 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.

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.