🏡 Sales Market
Active Listings: 885 (-1.7% YoY)
→ Inventory dipped slightly compared to last year after increasing earlier this quarter, signaling mild tightening
Median Sold $/SF: $253.24 (-3.8% YoY)
→ Prices remain under pressure and continue a downward trend year-over-year
Average Days on Market: 51 (-1.9% YoY)
→ Homes are selling slightly faster than last year, showing improving market efficiency
30-Year Mortgage Rate: 6.44%
→ Rates increased this month, which could impact affordability and buyer demand heading into spring
🏘️ Rental Market
Active Listings: 130 (-18.8% YoY)
→ Rental inventory has dropped significantly, indicating a tightening market
Median Rented $/SF: $1.20 (-1.6% YoY)
→ Rents remain slightly below last year, though relatively stable month-to-month
Median Days on Market: 30 (+11.1% YoY)
→ Rentals are leasing fairly quickly, but still taking longer than last year
📉 Key Takeaways
- Sales inventory has slightly declined, pointing toward gradual tightening
- Home prices remain soft compared to last year
- Homes are selling faster, indicating steady buyer demand
- Rental supply has tightened significantly, increasing competition
- Rising mortgage rates may influence buyer behavior in the coming months
👉 Overall:
Peoria’s market is showing early signs of stabilization. The sales market is improving with faster selling times and slightly reduced inventory, though pricing remains under pressure. Meanwhile, the rental market is tightening as supply drops, even as rents remain relatively steady. As mortgage rates rise, affordability will continue to shape both buyer and renter activity moving into the spring season.