Peoria, Illinois Real Estate Market Report for August

Posted on August 16, 2012 by Adam

Peoria, Illinois home sales prices are continuing their upward climb, despite a recent slowdown in total home sales, according to the most recent market data.

This could potential have a fantastic impact on Central Illinois home sellers who have been waiting for sales prices to begin to climb again.

Continue reading to learn more about recent Peoria housing market activity to learn how it may end up affecting you as a home seller.

Properties for Sale in Peoria

Here’s a summary of the most recent Peoria housing market data, based on the real estate website Trulia:

• Currently there are 1,122 homes for sale, including 189 in some stage of the foreclosure process
• Between April and June, the median sales price for Peoria homes was $116,500, based on 275 home sales.
• When compared to the same period in 2011, the median sales price has increased by 11 percent.
• In 2011, the median sales price was 105,000.
• Meanwhile, here’s how other area communities compared when it came to median sales price:

East Peoria: $114,500

Creve Coeur: $75,500

Bellevue: $70,000

West Peoria: $46,000

Spring Bay: $153,500

Peoria Heights: $55,000

• Also between 2011 and 2012, the total number of home sales decreased by 3.8 percent.
• During the week ending on July 18, the average listing price for Peoria homes was $159,867, down 3 percent when compared to the week before.
• During that same week, the average listing price for a 1-bedroom Peoria home was $76,635
• The average listing price for a 2-bedroom home in Peoria was $88,620
• And the average listing price for 3- and 4- bedroom homes were $128,847 and $238,890 respectively.
• Here’s how other Central Illinois communities did in terms of average listing price:

East Peoria: $174,544

Creve Coeur: $97,152

Bellevue: $109,900

West Peoria: $79,507

Spring Bay: $125,425

Peoria Heights: $120,660

Your Peoria, Illinois REALTOR

I hope you found the above information insightful as a Peoria home seller.

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