Peoria Public Radio News
6:43 am
Tue January 28, 2014

Peoria area home sales remain flat in 2013

Home sales in the Peoria area mostly remained flat in 2013 compared to the previous year.

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.