Home sales rebounded last month in greater Peoria.
The Illinois Realtors organization reports family home and condominium sales jumped more than 17-percent in May when compared with last year. Statewide, sales were down 1.3-percent.
The Peoria metropolitan area recorded 565 home sales last month. The local median sales price in May jumped nearly 11-percent from April to just over $127-thousand. The Peoria Metropolitan Statistical Area includes Peoria, Woodford, Tazewell and Marshall counties.
Nearly half of Illinois counties recorded May sales gains. The Danville and Peoria areas posted the strongest numbers. The Decatur and Rock Island-Moline regions were among the worst performers.
The homes that sold in May statewide took an average of 49 days to sell. The Illinois Realtors group predicts low mortgage rates and affordable pricing will keep the state’s real estate market stable in the coming months.
