Newly released data from Realtor.com for April shows that potential buyers and sellers in Peoria County saw houses sell for lower than the previous month's median sales price of $162,000.
The median home sold for $134,500, an analysis of data from Realtor.com shows. That means April, the most recent month for which figures are available, was down 17% from March.
Compared to April 2023, the median home sales price was down 13.2% at $134,500 compared to $155,000.
Sold:This mid-century modern Peoria home once owned by Kim Blickenstaff off the market
Realtor.com sources sales data from real estate deeds, resulting in a few months' delay in up-to-date data. The statistics don't include homes currently listed for sale, and aren't directly comparable to listings data.
Information on your local housing market, along with other useful community data, is available at data.pjstar.com.
Looking only at single-family homes, the $135,000 median selling price in Peoria County was down 18.2% in April from $165,000 the month prior. Since April 2023, the sales price of single-family homes was down 14.6% from a median of $158,000.
One single family home sold for $1 million or more during the month, compared to four recorded transactions of at least $1 million in April 2023.
Condominiums and townhomes decreased by 17.3% in sales price during April to a median of $115,000 from $139,000 in March. Compared to April 2023, the sales price of condominiums and townhomes was down 6.5% from $123,000. No condominiums or townhomes sold for at least $1 million or more during April.
Latest sales:Real estate sales in Peoria, Tazewell and Woodford counties for July 14, 2024
In April, the number of recorded sales in Peoria County dropped by 0.7% since April 2023 from 272 to 270. All residential home sales totaled to $45.4 million.
In Illinois, homes sold at a median of $280,112 during April, up 3.7% from $270,040 in March. There were 11,543 recorded sales across the state during April, up 14.4% from 10,092 recorded sales in April 2023.
The total value of recorded residential home sales in Illinois increased by 5.3% from $4.6 billion in March to $4.9 billion this April.
Out of all residential home sales in Illinois, 4.95% of homes sold for at least $1 million in April, up from 3.75% in April 2023.
Sales prices of single-family homes across Illinois increased by 1.5% from a median of $269,461 in March to $273,625 in April. Since April 2023, the sales price of single-family homes across the state was up 3.3% from $265,000.
Across the state, the sales price of condominiums and townhomes rose 6.9% from a median of $279,700 in March to $298,875 during April. The median sales price of condominiums and townhomes is up 10.7% from the median of $270,000 in April 2023.
The median home sales price used in this report represents the midway point of all the houses or units listed over the given period of time. The median offers a more accurate view of what's happening in a market than the average sales price, which would mean taking the sum of all sales prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high sale.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Realtor.com. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu.
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