Elmwood home prices fall in the third quarter of 2020

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The median sale price of a home sold in the third quarter of 2020 in Elmwood fell by $2,500 while total sales increased by 13.3%, according to BlockShopper.com.

From July through September of 2020, there were 17 homes sold, with a median sale price of $88,500 - a 2.7% decrease over the $91,000 median sale price for the same period of the previous year. There were 15 homes sold in Elmwood in the third quarter of 2019.

The median sales tax in Elmwood for the most recent year with available data, 2018, was $2,749, approximately 3.1% of the median home sale price for the third quarter of 2020.

The following table compares Elmwood to other Peoria County cities with similar median sales prices in the third quarter of 2020:

CityJuly - Sept. 2020 Home SalesJuly - Sept. 2019 Home Sales% change (Total Home Sales)July - Sept. 2020 Median Sales PriceJuly - Sept. 2019 Median Sales Price% change (Median Sales Price)
Hanna City10666.7%$115,950$118,750-2.4%
Peoria Heights403129%$84,950$67,00026.8%
West Peoria3615140%$83,750$65,00028.8%

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