PEORIA, Ill. – Inventory is still tight, but there were more homes for sale in the second quarter of the year in Peoria.
Chris Hilton, President of the Peoria Area Association of Realtors, says the number of days homes spent on the market also dropped significantly.
“It was 32 days in the first quarter, and in the second quarter it was down to 18 (days),” Hilton says.
Hilton tells WMBD’s “Greg and Dan” home prices were up from $173,000 in the first quarter, to $203,000 on average in the second quarter.
Hilton says it’s important for buyers to have their ducks in a row when they start looking for homes.
“Be prepared. If you’re a buyer, be pre-approved. Know what you have to have in a house versus what you’d like to have in a house. And, be ready to move…because you might only get one shot at it,” Hilton says.
Hilton adds, once you make an offer on a home, expect that if the price is good, there will be multiple offers over asking price.
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