Elmwood Township Housing Market Report December 2024•Peoria County, Illinois

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Housing Prices in Elmwood Township, IL

How much do homes in Elmwood Township, IL cost?

Housing Market Conditions

Is Elmwood Township, IL a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Elmwood Township is a Seller's Market

Difference Since December 2023

At the same time last year, Elmwood Township was a Neutral Market.

Insight

Elmwood Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$145,000$99/SqFt
+$21,000
+16.9%

Based on all homes sold in the last 12 months

Insight

Homes in Elmwood Township have sold for 16.9% more than they did a year ago.

Summary: The median home sold price in Elmwood Township was $145,000 in December 2024, up 16.9% from last year, and the median price per square foot was $99.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Elmwood
+17.9%
Elmwood Township
+16.9%
Salem Township
+8.7%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsDec 2023Dec 2024Change YoY
1--
N/A
2$101.7K$130K
+27.8%
3$117.9K$153.5K
+30.1%
4$172.2K$95K
-44.8%
5$256.4K$256K
-0.2%

Summary: Elmwood Township housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes increased by +27.8%. The home price for 3 bedroom homes increased by +30.1%. The home price for 4 bedroom homes decreased by -44.8%. The home price for 5 bedroom homes decreased by -0.2%.

Housing supply in Elmwood Township, IL

How many homes are available in Elmwood Township, IL?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
6Last MonthDec 2024
52 months agoNov 2024
+20.0 %
Change MoMNov – Dec

Summary: The Elmwood Township real estate market had 6 homes for sale in Dec 2024, a 20.0 % increase compared to Nov 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
2Last MonthDec 2024
12 months agoNov 2024
+100.0 %
Change MoMNov – Dec

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsNov 2024Dec 2024Change MoM
100
0.0%
221
-50.0%
312
+100.0%
412
+100.0%
511
0.0%

Summary: Elmwood Township housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes decreased by -50.0%. The inventory for 3 bedroom homes increased by +100.0%. The inventory for 4 bedroom homes increased by +100.0%. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in Elmwood Township, IL cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price0 Home

At Asking Price0 Home

Under Asking Price2 Homes

Insight

If you're buying a home in Elmwood Township, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Elmwood Township in December 2024, up by 100.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and and 0% were sold over asking.

Days on Market for Elmwood Township, IL

How long does it take to sell a home in Elmwood Township, IL?

Breakdown of Home Sale Times

Under 30 Days0 Home

30 – 90 Days0 Home

Over 90 Days2 Homes

Insight

Most homes in Elmwood Township are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During December 2024, 2 homes were sold in Elmwood Township; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
134 DaysThis YearDec 2024
2 Days1 year agoDec 2023
+6625.0 %
Change YoYDec 2023 – Dec 2024

Summary: Homes in Elmwood Township had an average listing age of 134 days in Dec 2024, up by 6625.0% compared to the previous year.

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Newest Listings in Elmwood Township, IL

What homes are available in Elmwood Township, IL?

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MLS Disclaimers and Copyright

Based on information from RMLS Alliance, for the period 01/01/2023 - 01/01/2025

IDX Listings courtesy of RMLS Alliance as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange program of RMLS Alliance®. Real estate listings held by brokerage firms other than this broker are marked with the RMLSA logo and detailed information about them includes the name of the listing brokers. The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but is not guaranteed and should be independently verified through personal inspection and/or with the appropriate professionals. Copyright © 2025 Peoria Area Association of REALTORS®.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/30/2025, 10:20:54 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.