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Central Illinois Home Sales Plunge in June

WCBU News/Tanya Koonce
Credit WCBU News/Tanya Koonce

Home sales prices across the state and in the greater Peoria and Bloomington areas plunged in June. That’s according to Illinois Realtors.

The trade group says the Peoria metropolitan area recorded 504 sales in June, 14 percent less than a year ago. The median sales price jumped nearly five-percent from May to $133,450. The Peoria Metropolitan Statistical Area includes Peoria, Woodford, Tazewell and Marshall counties.

The Bloomington metropolitan statistical area’s June sales dropped 21.2 percent to 268. The month-over-month median sales price pushed 3.4 percent higher to $164,250.

Statewide home sales dropped 11.2 percent from a year ago while the median sales price inched 0.2 percent higher to $225,000. 

“The market choppiness that we have seen throughout the year continued in June, with home sales once again lagging previous-year numbers and sellers struggling to provide the number of homes consumers want," said Ed Neaves, managing broker of Berkshire Hathaway HomeServices Snyder Real Estate in Bloomington and president-elect of Illinois Realtors. "The good news for consumers is that median prices are not appreciating nearly as fast as they have in years past, so for the truly dedicated house-hunter there is opportunity.”

Only a third of Illinois counties recorded June sales gains. The Moline-Rock Island and Springfield areas posted the strongest numbers. The Decatur and Bloomington regions were among the worst performers.

The homes that sold in June statewide took an average of 45 days to sell. 

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Kristin McHugh is an experienced radio journalist and nonprofit manager. Most recently, she served as executive director of the Peoria Area World Affairs Council.