Peotone, IL, Real Estate
Peotone, Illinois, is a quaint village in Will County, located about 40 miles south of Chicago, with a population of approximately 4,100 as of the 2020 census. Known for its rich agricultural heritage and small-town charm, Peotone offers a serene, community-focused lifestyle surrounded by sprawling farmlands. The village is home to the historic Peotone Mill, a preserved landmark reflecting its past, and hosts the annual Will County Fair, drawing visitors for livestock shows, carnival rides, and local crafts. With its welcoming atmosphere, historic downtown, and easy access to nearby urban centers, Peotone strikes a balance between rural tranquility and modern convenience.
Peotone currently has 18 single family homes for sale with an average list price of $353,166.67, 1 condo for sale with a list price of $349,900, and 8 lots for sale with an average list price of $453,750. The average annual property tax for Peotone is $4,195.86.
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Using the absorption rate, we can determine how long it's taking for homes to sell and which price points are selling the fastest in Peotone, i.e. what's hot and what's not.
See What's Hot & What's Not in Peotone
Market Trends
Peotone home sales for the month of August stayed the same in volume when compared to last year, while the median sale price decreased by 7.7% from $414,205.50 to $382,508.50. House sales decreased by 16.7%, while the median sale price rose by 1.4% from $414,205.50 to $420,017. Townhouse sales stayed the same, while the median sale price stayed the same.
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75
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52
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57
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46
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| 2021 | 2022 | 2023 | 2024 |
| # of sales per year | |||
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$240,000
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$262,500
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$300,000
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$314,000
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| 2021 | 2022 | 2023 | 2024 |
| median sale price per year | |||
Median Sale Price for Peotone
Number of Sales for Peotone
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