Home Sales on the Rise in Peoria, Illinois and on the National Housing Market

Posted on September 24, 2012 by Adam

The latest real estate statistics are in and there’s definitely reason to celebrate if you’re a Peoria, Illinois home seller!

Evidently, the national real estate market saw a 3.6 percent increase year-over-year in new home sales during the month of July.

And locally, on the Peoria Illinois real estate market, home sales increased by 65.1 percent year-over-year.

Experts are saying this data is the latest evidence that the national housing market is indeed turning around!

Peoria, Illinois Real Estate for Sale

Here’s a brief overview of the latest national housing market data:

• In the last 12 months, new home sales have increased to 372,000, or about 25 percent
• Meanwhile, sales of previously occupied homes increased by 2.3 percent from June to July.
• Sales of previously occupied homes increased by 10 percent in July when compared to the previous year.
• Mortgage rates continue to be at near-record lows.

Admittedly, there’s still some progress that needs to be made. For instance, between June and July, the median price for new homes decreased by 2.1 percent.

And housing prices are still about a third lower than what they were at the peak of the 2006 housing bubble.

Still, national housing market data is certainly improved when one looks at data from 2011!

Here’s a look at how activity is doing locally on the Peoria real estate market:

• Currently there are 1,090 resale and new homes on the market, including 193 in some stage of the foreclosure process
• Between May and July, the median sales price for Peoria homes was $115,000, based on 426 home sales.
• Compared to last year, the median home sales price has increased by 2 percent.
• And the number of home sales has increased by 65.1 percent.
• During the week ending on August 29, the average listing price for Peoria homes was $151,868, down 0.5 percent from the week before.

List Your Peoria Home for Sale Today!

To take advantage of the uptick in sales activity on the Peoria – as well as national – real estate markets, please contact me today!

When you do, I’ll help you determine how much your Peoria, Illinois property is worth as well as explain to you the exclusive marketing plan I offer sellers.

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