PEORIA, Ill. – Home sales in the Peoria area were down six percent in the first quarter of the year, compared to the same time in 2024.
Peoria Area Association of Realtors President Chris Hilton tells WMBD’s “Greg and Dan”, though local inventory is low, homes that are priced right are moving.
“We’re having multiple offers on properties. We’re getting over asking price, considerably over asking price on homes,” Hilton says.
PAAR reports that 969 homes were sold in the first quarter of this year, compared to 1,031 in the first quarter of 2024.
Hilton says the second quarter is typically more active. Local inventory of homes for sale in April were up 8 percent.
“That’s encouraging. And, our pendings for the month of April were up 18 percent…so, sales and inventory are already starting to increase,” Hilton says.
PAAR says there were 545 homes for sale in Peoria in the first quarter of the year, down from 559 in the first quarter last year…with the average selling price just over $173,000, up 18.5-percent from the first quarter of 2024.
“I tell buyers that this is still a great time to find value in Central Illinois. Interest rates are fluctuating, but prices in Peoria remain affordable,” Hilton says. “To sellers, I say that buyers are still out there.”
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