Peoria area home sales were down slightly in the third quarter, despite robust September sales.
Home sales were down 2.3-percent for the quarter compared to last year. That even with an 8.1-percent increase in September.
Mary Ann Ladendorf is the president of Peoria Area Association of Realtors: “The market is remaining stable in Peoria. The biggest change we saw was in the upper-end properties which is highly due to the Caterpillar incentives for their inventory homes.”
The average home sale price was up .09-percent standing at $147,179. That’s also due to the increase in the number of homes that sold for $500,000 or more.
But the most active segment of the market was homes that sold for $175,000 or less. The median home sale price was $122,000. Half the homes sold in the 3rd quarter cost more than that and half cost less. The median home sale price was down two-percent from the same time last year.
It took an average of 78 days to sell a home in July, August and September. Bartonville, West Peoria and Pekin saw the largest gains in home sales for the quarter.