Is Pekin, IL 61554 a buyer’s or seller’s market?

The Pekin housing market right now

In the three months ending August 31, 2026, 46% of homes in Pekin, IL 61554 sold above their list price, the typical home went under contract in 10 days and there were 1.3 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 199 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 39%, homes sold faster (15 days then) and the median sale price rose 21% to $156,932. Overall, Pekin is more competitive than a year ago, so tougher for buyers.

Within Tazewell County, homes here sell faster than in 57% of the county’s ZIP codes, and sell more often over asking than in 64%. On our competition score, Pekin ranks #33 of 464 IL ZIP codes with enough sales (score 87 out of 100).

Nearby, buyers who want less competition could look at Deer Creek 61733 (0% sold over asking) or South Pekin 61564 (0% sold over asking), while Tremont 61568 (55% sold over asking) and East Peoria 61611 (53% sold over asking) are even more competitive.