To view a very, very detailed look at the sales data for all of central Illinois in 2013, click right here.
In its entirety, 2013 proved to be a good year for housing. Home sales and
prices were broadly higher across the nation, while foreclosure loads, the
number of homes for sale and the number of days it took to sell a home were all
much lower. Multiple-offer situations became commonplace again and prices in
many areas rallied to multi-year highs. This, of course, varied by location and
segment, but the proverbial glass appeared to be more than half full throughout
the year.
New Listings in the Peoria region were up 4 0 percent to 340 Pending Sales
Homes for Sale
Residential real estate activity comprised of single-family properties and
condominiums combined. Percent changes are calculated using rounded
figures.
New Listings in the Peoria region were up 4.0 percent to 340. Pending Sales
decreased 2.6 percent to 229. Inventory shrank 3.6 percent to 2,111 units.
Prices rallied higher as the Median Sales Price was up 3.7 percent to $117,700.
Days on Market decreased 4.3 percent to 89 days. Months Supply of Inventory
was down 1.9 percent to 5.2 months, indicating that demand increased relative
to supply.
The year 2013 was marked by a slowly improving labor market stunted by political gridlock, and the
Federal Reserve’s long-awaited taper announcement was not surprising.
Interest rates remain low (but upwardly mobile), prices are still affordable, the
employment picture looks decent and the stock market is up nearly 30.0
percent from this time last year. It’s no wonder that buyers were active in 2013.
Here’s to more of the same in 2014.
