Is this a good time to sell a house in Illinois?

May, June, and July are the best months to sell your house in Illinois . The median sale price of houses in June 2023 was $294,300, which is expected to rise in 2024. However, cities like Marion and Granite City follow an upward trend throughout the year.

Is Peoria IL a good place to buy a house?

Peoria. Peoria's Niche accolades include an 18th place ranking for the Cities with the Lowest Cost of Living in America, 42nd in Best Cities to Buy a House in America and 74th for Most Diverse Cities in America.

What is the slowest month for real estate sales?

The worst time to sell a house is typically during the winter months, particularly in December, January, and February . During this period, bad weather can deter potential buyers from attending open houses, and many people are preoccupied with holiday activities and planning.

Are house prices dropping in Illinois?

Illinois Housing Market Overview What is the housing market like right now? In July 2024, home prices in Illinois were up 7.5% compared to last year , selling for a median price.

Is it expensive to live in Peoria IL?

The Cost of Living Index in Peoria IL is 87.4. This means that Peoria is 6.3% more affordable than the Illinois cost of living , which has a COLI of 93.7. Peoria is 12.6% more affordable than the national average of 100.

Why is Peoria Illinois famous?

Peoria was made famous by an old vaudeville line—“Will it play in Peoria?”—that suggested the city was a bellwether for “heartland” values of the entire country .

What is the average household income in Peoria Illinois?

What are the median and average incomes in Peoria? Y-o-Y Change Average Household Income $88,419 8.1% Median Household Income $58,068 8.4% People below Poverty Level 20,827 -1.5% People above Poverty Level 87,146 -0.3%

Will house prices go down in 2024 near Illinois?

By December 2024, the median price of homes is forecast to be $272,800 in Illinois and $324,200 in Chicago PMSA, respectively , an increase of 8.4% and 12.0% from December 2023 (See Table: Annual Median Price Forecast [Nov 2022 to Dec 2023]).

Should I sell my house now or wait until 2025?

In a recent note, Chief US Economist Michael Gapen and his team revealed that they expect home prices to rise by 4.5% this year and 5% in 2025. Gapen doesn't foresee the market cooling down until 2026 at the earliest. With this in mind, current homeowners can sell for even higher prices down the road.

What month do most homes sell?

Here's how each month of the year ranked for the best time to sell a house. The highest-earning months are, in ranking order, May, June, April and March .

What is the most popular month to sell a house?

Nationally, the best time to sell a house is March if you're trying to sell quickly, while the best time to maximize profit is July. Zillow recommends listing your home for sale in March, but no later than Labor Day, based on historical market trends.

Real estate sales in Peoria and Tazewell counties for Jan. 22, 2023 (2024)

These transactions, recorded the week of Jan. 9, are compiled from information on file with Peoria and Tazewell counties. They represent sales of $78,000 or more.

PEORIA COUNTY

2736 W. Overhill Road, Peoria: Myrna R. Harding to Hind Al Ani, $85,000.

2406 W. Newman Parkway, Peoria: Doreen Fosselius to Michael Gray, $114,900.

5218 N. Ronald Road, Peoria: Samantha L. and James A. Lovelady to Adam Johnston, $114,900.

1920 W. Alice Ave., West Peoria: Nichole L. Cihi to Anthony Higle, $119,500.

5609 N. Western Ave., Peoria: Lisa M. Davini to Monica Borzillo, $125,000.

2713 W. Creston Lane, Peoria: Angela Walsh to Rebecca Runyon, $139,000.

6818 N. Kimberly Drive, Peoria: Walter T. Jordan Jr. to Valorie Engholm and Matthew Mitchell, $159,900.

510 W. Melbourne Ave., Peoria: Mark C. Zander to Linda O. Couch, $160,000.

More:Real estate sales in Peoria and Tazewell counties for Jan. 15, 2023

5929 N. Keenland Ave., Peoria: David Jr. and Vanessa R. Washington to Felipe M. Santiago and Tia M. Lowe, $169,900.

1714 N. Broadway St., Peoria, 827 W. Columbia Terrace, Peoria, 1913 N. Bigelow St., Peoria, 405 E. Forrest Hill Ave., Peoria, and 608 W. Loucks Ave., Peoria: Sam Property Group IV LLC to Toscana Group LLC, $170,000.

11217 N. Oakwood Drive, Peoria: Trisha E. Tenhouse Rettke to Gerald T. Ward, $172,000.

213 N. Louise St., Chillicothe: Matthew A. and Colleen E. Mathias to Jerry E. and Janice K. Bodtke, $189,900.

3224 W. Chadwick Lane, Peoria: Shawn Bianchi to Keaton F. and Lauren M. Schmidt, $195,000.

113 Lawndale Ave., Bartonville: Charles H. Mathews IV and Laine M. Ziegler to Douglas and Kristi Freres, $201,000.

TAZEWELL COUNTY

10301 Bellair Drive, Manito: Lisa M. and Mark E. Ziegenbein to Timothy Prinnell, $88,300.

261 S. Thorncrest Ave., Creve Coeur: Micah Bouillon to Candice Kimbrell, $91,000.

811 Mary St., Pekin: Heather L. Henry to Peggy A. Hulett, $91,500.

1504 Henry St., Pekin: Ami and Jayson Couri to Lisa and Mark Ziegenbein, $98,000.

1022 Winter St., Pekin: Kickapoo Corporation to Jacob T. Malik, $99,900.

104 Marion St., Pekin, and 105 Hazel, Pekin: Surin Sandall to Jordan Ivey, $102,500.

221 Devron Circle, East Peoria: Austin Greenwood to Joel Schneblin, $110,000.

1418 Tennell Road, Pekin: Janet O. and Steven A. Jacobs to Michael and Paetra St. Clair, $116,000.

1005 Edison Court, Pekin: Zachary S. Head to Jakob Bridenbaugh, $134,900.

313 Edgewood Drive, Pekin: Bradley A. and Julie K. Burrell to Kayla A. Geeseman, $135,000.

103 Giles Drive, Mackinaw: Carolyn L. Johnson to Lucinda Aberle, $137,000.

512 & 514 Court St., Pekin: Davison Holdings LLC to Checkered Flag Properties LLC, $140,000.

'It was exhausting':Why now might be a better time to buy a home in Peoria, even with higher interest rates

5 Dominion Court, Pekin: Todd Peters to Brian A. Wood, $164,400.

612 E. Washington St., Morton: Blake and Isaac Bennett to Brandon D. and Nicole Brooks, $180,000.

1514 Summer St., Pekin: Frank R. and Pamela G. Shearer to Angela Wilson, $189,900.

306 Circuit Court, East Peoria: Hayley Brewer to Green K. Arnold and Kaitlyn M. Knox, $195,000.

1913 Highwood Ave., Pekin: Martha L. Green and Mickey Myers Green to Mariana and Mark Montgomery, $195,000.

106 Turnron Place, East Peoria: Nathaniel A. and Tamar E. Kern to Caleb J. and Megan E. Biroschik, $210,000.

804 Crestview Drive, Washington: Patrick R. Teague to Brett and Meredith Fish, $215,000.

106 Stone Creek Court, East Peoria: Paul Schaefer to Carlos Campos, $220,000.

More:Sellers, beware: What the experts say you should know about the Peoria housing market in 2023

43 & 51 Lynwood Court, Morton: Rudolph K. Heusuk to Tera Hoppe and Sara Neumeister, $270,000.

6120 Angus Lane, Hopedale: Brock and Taeli Baughman to Daric S. and Shannon M. Rademaker, $285,000.

2671 Ashley Court, Tremont: Christopher A. and Jennifer L. Attenberg to Hayler R. and Vinish Kalva, $295,000.

309 Sherry Lane, East Peoria: Jamie R. and Tyler J. Hoffer to James M. and Mary Sutton, $340,000.

23501 Spring Creek Road, Washington: Melissa M. and William C. Bara to Scott A. Williams, $910,000.

Real estate sales in Peoria and Tazewell counties for Jan. 22, 2023 (2024)

PEORIA COUNTY

TAZEWELL COUNTY

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		Y-o-Y Change
Average Household Income	$88,419	8.1%
Median Household Income	$58,068	8.4%
People below Poverty Level	20,827	-1.5%
People above Poverty Level	87,146	-0.3%