Get updates delivered to you daily. Free and customizable.
Peoria County real estate: Home prices fell in August, but houses sold quickly
By USA TODAY Network,
The median home in Peoria County listed for $149,925 in August, down 3.3% from the previous month's $155,000, an analysis of data from Realtor.com shows.
Compared to August 2022, the median home list price decreased 0.9% from $154,950.
Peoria County's median home was 1,566 square feet, listed at $95 per square foot. The price per square foot of homes for sale is up 5.5% from August 2022.
Homes in Peoria County were moving briskly compared to the August national average, with a median of 36 days on the market for listed houses. In the previous month, homes had a median of 37 days on the market. Around 240 homes were newly listed on the market in August, an 11.8% decrease from 272 new listings in August 2022.
The median home prices issued by Realtor.com may exclude many, or even most, of a market's homes. The price and volume represent only single-family homes, condominiums or townhomes. They include existing homes, but exclude most new construction as well as pending and contingent sales.
Information on your local housing market, along with other useful community data, is available at data.pjstar.com .
Across the Peoria metro area, median home prices fell to $162,445, slightly lower than a month earlier. The median home had 1,692 square feet, at a list price of $97 per square foot.
In Illinois, median home prices were $329,250, a slight decrease from July. The median Illinois home listed for sale had 1,761 square feet, with a price of $181 per square foot.
Throughout the United States, the median home price was $435,450, a slight decrease from the month prior. The median American home for sale was listed at 1,907 square feet, with a price of $223 per square foot.
The median home list price used in this report represents the midway point of all the houses or units listed over the given period of time. Experts say the median offers a more accurate view of what's happening in a market than the average list price, which would mean taking the sum of all listing prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high price.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from the Realtor.com residential listings database. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu.