Home sales in the Peoria area were down more than 10-percent in the third quarter compared to a year ago. Jana Heffron is the newly installed president of the Peoria Area Association of Realtors. She says it’s not unusual for us to see a seasonal slowdown. But the average home sale price is also down three-point-eight percent. Houses sold in July, August and September spent an average of 78 days on the market, the same as a year ago.
Heffron says Fall remains one of the best times to shop for and purchase a home. She says there is generally less competition from other buyers, and sellers may be more eager to negotiate in order to sell their property before the holidays and onset of winter.
Houses priced at 125-to-175-thousand sold the quickest, spending an average 71 days on the market. Year-to-date home sales are also down two-point-two-percent.