A look at the Housing market in Peoria Illinois

The front of my childhood home
Creative Commons License photo credit: Sam Felder

The fifth largest city in IL, Peoria has a lot to offer it’s residents. It is one of the oldest settlements in the state of Illinois. Many still believe Peoria is representative of what the average American town is like. Many of the residents still claim Midwestern culture and values as their way of work. In other words, hard work and being kind to your neighbor is a way of life many in Peoria try to live by. The city is also pretty diverse demographically, which is a big draw for many. There is lots of culture in Peoria as well. The city houses the tenth oldest orchestra in the nation: The Peoria Symphony Orchestra. There’s also a youth symphony and ballet theaters as well. There’s museums and plenty of park land in Peoria as well.

Among the many admirers of the cities natural beauty are former President Theodore Roosevelt who found the Grandview Drive that runs through Peoria, one of the worlds most beautiful. There is not shortage of wholesome entertainment for families in Peoria. The city zoo aptly named Peoria Zoo has undergone expansion and is truly beautiful. There’s the yearly Steamboat classic that is not on the nations, but the worlds largest four mile race. This race has an international draw every year. The city is truly a welcome spot to search for a home.

Currently there are a littler over a thousand homes for sale in Peoria. The median sales price in Peoria is a little over a hundred thousand dollars. So at the end of the last quarter sellers were receiving about fifty thousand less dollars than they asked for at listing. There have only been thirty-four sales this quarter and many believe the market is on the upswing for both buyers and sellers. Unlike other areas, new homes are still selling in Peoria. While the price of homes for sale in less than it was a year ago, the area does not seem to have been as hard hit as other cities in Illinois. With only a little over one hundred homes in foreclosure, the work hard and pay your bills attitude of those in Peoria seemed to have served them well during the bursting of the housing bubble.