Peoria area housing numbers dip in the third quarter

By WEEK Producer

October 15, 2013 Updated Oct 15, 2013 at 6:49 PM CDT

PEORIA, Ill. -- The local trend in buying, selling and pricing homes has taken an all-around dip this quarter.

Peoria home sales are down about 4 percent and the majority of those homes are selling for less than $75,000.

This year, the number of properties for sale, the median home price and the number of closed sales have all slightly decreased.

Peoria Area Association of Realtors President Tonya Burris said the calendar could be to blame.

"What we just came through for the third quarter was more of our push for summer and then we also had, 'okay, the weather's really nice we're going to do some work around the house,' which we love to see the home improvements and yard work,” Burris said. “But then we also get into vacations and kids going to school and parents not wanting to shift the children between schools."

Burris said the downward trend for the third quarter is generally expected. However, she said the overall market is stable.

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