The Peoria Area Association of Realtors reports more than 49-hundred homes sold last year. The number of homes on the market also dropped nearly four-percent to the lowest number the area has seen since 2007. It also took about 82 days on average to sell a home in 2013. That’s more than 15-percent quicker than the year before.
Phil Harvey is the President of the association. He says the year-end numbers show continued stability in the housing market.
“Other parts of the country are still in a downfall, and we’ve turned the corner. I think we turned the corner, actually, back in 2011, and it continued through 2012. We like the fact that it’s very steady and not the real high-highs and the low-lows.”
Harvey says the median sales prices for homes sold in the area dropped more than three-percent to 118-thousand dollars. Fourth quarter homes sales also saw an increase of less than one-percent.