Tracey Velt's Market Report
Peoria, IL
Single-Family Homes
HW Wire | Editorial Director | tracey@hwmedia.com | 407-716-0498
Peoria, IL
Fri Jul 26 2024
This week the median list price for Peoria, IL is $120,000 with the market action index hovering around 53. This is less than last month's market action index of 56. Inventory has increased to 154.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market remains in a relative stasis in terms of sales to inventory. Prices have not been moving higher for several weeks. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up persistently, prices are likely to resume an upward climb.
Real-Time Market Profile
| Median List Price | $120,000 | |
| Median Price of New Listings | $154,900 | |
| Per Square Foot | $79 | |
| Average Days on Market | 82 | |
| Median Days on Market | 35 | |
| Price Decreased | 31% | |
| Price Increased | 1% | |
| Relisted | 6% | |
| Inventory | 154 | |
| Median Rent | ||
| Market Action | 53 | |
| Strong Seller's Market | ||
The market appears to be hovering around these current levels, though prices movved up a bit this week. The Market Action Index is a good leading indicator for the durability of this shift.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $395,000 | 3,806 | 0.25 - 0.5 acre | 4 | 3.5 | 43 | 10 | 2 | 56 |
| $169,950 | 1,757 | 0.25 - 0.5 acre | 3 | 2 | 69 | 17 | 7 | 7 |
| $94,900 | 1,293 | 6,500 - 8,000 sqft | 3 | 1 | 82 | 6 | 4 | 42 |
| $52,000 | 1,025 | 4,500 - 6,500 sqft | 3 | 1 | 96 | 7 | 2 | 56 |