Peoria Real Estate Market Update for July

Posted on January 20, 2012 by Adam

The last several weeks have yielded mixed results for interested Peoria area home sellers.

After all, while the median home sales price has increased, the total number of home sales has actually decreased!

Continue reading to learn more about recent activity on the Peoria housing market to see how it may affect your efforts to sell your Central Illinois home.

Properties for Sale in Central Illinois

Here’s an overview of the current state of the Peoria housing market, based on the most recent market data from the website, Trulia:

• Currently there are 1,150 homes for sale on the market, including 179 in some stage of the foreclosure process.
• Between March and May, the median sales price for Peoria homes was $106,000, based on 249 home sales.
• Here’s how nearby Illinois communities compared in terms of median sales price:

Creve Coeur: $122,000

Bellevue: $70,000

West Peoria: $46,000

Spring Bay: $153,500

East Peoria: $109,000

Peoria Heights: $50,000

•  When compared to the same period in 2011, the median home sales price in Peoria has increased by 6.5 percent.
• Last year, the median home sales price in Peoria was $99,500.
• Meanwhile, the total number of home sales actually saw an 11.7 percent decrease when compared year-over-year.
• During the week ending on June 20, the average listing price for Peoria homes was $161,034, up 0.1 percent when compared to the week before.
• Broken down further, the average listing price for a 1-bedroom home was $72,434.
• The average listing price for a 2-bedroom home was $91,840.
• And the average listing price for 3- and 4- bedroom Peoria homes were $133,381 and $241,715.
• Here’s how nearby Illinois communities compared when it came to average listing price:

Creve Coeur: $91,453

Bellevue: $109,900

West Peoria: $83,802

Spring Bay: $133,267

East Peoria: $167,256

Peoria Heights: $125,425

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