The Median Sales Price was $305,500 in Peoria last month, up from $292,000 last April (4.6%) and $240,000 since April 2015 (27%). So, comparing the recent numbers with prior years’ numbers, the trend looks pretty good.
However, where is the seasonality this year? Each of the prior years saw prices increase during the 1st and 2nd quarters, while 2019 has seen prices remain relatively flat (or even down a touch since Q4 2018.)
I’ll say again that I’m better at reviewing what has happened than predicting what’s going to happen, but this trend does not look like it’s moving in the right direction. (although there’s still time for prices to heat up with the weather..!)
- Chris Butterworth
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* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.