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Featured local agent — Lake Petersburg, IL
Sarah Mitchell
Compass Real Estate · Lake Petersburg, IL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Lake Petersburg, IL Housing Market & Real Estate
Housing market overview · Updated monthly ·
$282,900median sale price
How is the Lake Petersburg, IL housing market right now?
The median home sale price in Lake Petersburg, IL is $282,900, down 29.7% year-over-year. Homes sell in an average of 50 days with 3 active listings. The market is currently a seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Lake Petersburg a buyer's or seller's market?
Lake Petersburg, IL is currently a seller's market, based on 0.8 months of supply and homes selling in about 50 days. How we determine this →
Homes sold
4
Last 12 weeks
Days on market
50
Average pace
Active listings
3
0.8 months supply
Sale-to-list
94.4%
Below asking
What does the Lake Petersburg housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $282,900 |
| Median list price | $465,000 |
| Year-over-year price change | -29.7% |
| Average days on market | 50 days |
| Active inventory | 3 listings |
| Months of supply | 0.8 months |
| Sale-to-list price ratio | 94.4% |
| Median price per sq ft | $125/sq ft |
| Homes sold (latest month) | 4 |
| New listings (latest month) | 1 |
| Listings with a price cut | 33.3% |
| Market condition | Seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Lake Petersburg by property type?
How the Lake Petersburg, IL market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $282,900 | $125/sq ft | 4 | 50 days |
Source: Redfin · Updated monthly
The Lake Petersburg housing market is currently classified as a seller's market with a median sale price of $282,900. Prices have fallen 29.7% compared to last year, with homes spending an average of 50 days on market, indicating 0.8 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.
Homes for sale in Lake Petersburg
There are currently 3 homes listed for sale in Lake Petersburg, Illinois. The median listing price is $465K.
Active listings
3
Homes on market
Median list price
$465K
Avg. days on market
50
Days until sale
New this week
1
Newly listed
Who lives in Lake Petersburg?
Population
769
Median income
$124,643/yr
Median age
59 years
Owner-occupied
100.0%
College grads
40.6%
Avg commute
34.6 min
Source: U.S. Census Bureau ACS
What is it like to live in Lake Petersburg?
Lake Petersburg is a community of approximately 1K residents with a median age of 59 years.The median household income is $124,643, which reflects a relatively affluent area with strong earning potential. 40.6% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 100.0%, reflecting strong community stability and long-term resident commitment. The average commute time is 34.6 minutes, which suggests a more suburban or rural location for those willing to commute longer distances.Overall, Lake Petersburg offers a balanced lifestyle with accessible home values relative to local income levels.
Which cities are near Lake Petersburg, IL?
Want a head-to-head view? Compare Lake Petersburg side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Lake Petersburg?
The median home sale price in Lake Petersburg is $282,900, down 29.7% from last year.
How long do homes stay on market in Lake Petersburg?
Homes typically spend 50 days on market before going under contract.
What is the median income in Lake Petersburg?
The median household income is $124,643 per year.
Is Lake Petersburg a buyer's or seller's market?
With 0.8 months of supply, Lake Petersburg is currently a seller's market.
How much does a single-family home cost in Lake Petersburg?
The median single-family home price in Lake Petersburg, IL is $282,900 (about $125 per square foot).
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