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Hot real estate market near Peoria pushes home sale prices to $160,000 – Peoria Journal Star

The median sales price for a single-family home sold in Peoria County during June was $160,000.

That’s an increase of 10.3% compared with June 2021, according to a USA TODAY Network localized analysis generated with data from

On a year-over-year basis, prices have been rising for six consecutive months. June’s median sale price represents a record in a database that covers 90 consecutive months. June prices are up from $155,000 the previous month.

The number of houses sold fell by 10.8% from a year earlier. A total of 356 houses were sold countywide during June. During the same period a year earlier, 399 single-family homes were sold.

‘We set them up for disappointment’Tips from Peoria experts on how to buy amid housing shortage

Tazewell County’s median sales price for a single-family home was $160,000, up 8.1% from a year earlier. Some 296 houses were sold in June, down 19.1% from a year earlier.

Real estate sales can take weeks or months to be recorded and collected. This is the latest data made available through to the USA TODAY Network.

Peoria County condominiums and townhomes sold in June had a median sales price of $143,000. That figure represents a 19.2% increase year over year. Some 36 were sold, down 14.3% from a year earlier.

More:A home sold for more than a million in June 2022 in Peoria County. Read about it and the other most expensive homes sold

How hot is Peoria County’s real estate market in Illinois?

In Peoria County, the top 10% of the properties sold for at least $432,500, up 18.5% from a year before. In June, one property sold for at least $1 million, consisting of one single-family home.

In Tazewell County the top 10% of the properties sold for at least $349,900, up 14.7% from a year before.

More:Here are Tazewell County’s 10 most expensive homes sold in August 2022

Illinois’s median single-family home sales price was $289,000 in June, up 15.6% from a year earlier. The state reported 10,911 single-family homes sold, down 18.3% from a year earlier.

The median home sale price — the midway point of all the houses or units sold over a period of time — is used in this report instead of the average home sale price because experts say the median offers a more accurate view of what’s happening in a market. In finding the average price, all prices of homes sold are added and then divided by the number of homes sold. This measure can be skewed by one low or high price.



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