Long overdue market update!

Wow…what a year. Between the Caterpillar relocation announcement of their headquarters in 2017, to the roll out of the Caterpillar Market Stability Program, there have been a lot of changes.

Ok-let’s get caught up on things.

The overall inventory of homes for sale is down, which is a good thing for sellers, not so great for buyers. But overall, it has been a consistent righting of the ship with regards to the market.

In Dunlap, the number of new listings year to date is down 12.9%. Home sales are up 28%. The average listing price to selling price is up1.7% to 93.7%. The days on market is also down 9.2% to 99 days on market. All of that points to a continued turn around in the market.

In the city of Peoria, the number of new listings is up 5.9%, closed sales up 14.2%, and days on market up slightly to 88 days on market.

Washington also saw a better market. Homes for sale were down 11.6%, sales were up 11.4%, and days on market were up 14.3% to 80 days on maret.

Metamora homes for sale was down 4.6%, homes sold was up 1.2%, days on market were up 7.3% to 88 days on market.

The area with the greatest percentage increase in home sales was Dahinda, which is about 40 minutes west of Peoria and it known primarily for the Oak Run lake community. Home sales year to date were up 55%, although we’re talking about 20 homes sold last year vs. 31 sold this year so far.

Morton had the least amount of days on market with 51 days on market. Dahinda had the most-155 days.

Edwards, IL had the highest average sold price-$311K, although many of the homes in Edwards actually are in the city of Peoria and the Dunlap school district, but only Edwards due to the mailing district.

The average sold price in Peoria County was $151K, up about 1.8% from last year. Peoria County saw an increase of 12.3% in sold homes over the same period last year. Also a good sign.




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