Is Princeville, IL 61559 a buyer’s or seller’s market?
Princeville is a seller’s market. With about 3.2 months of supply and 0% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
The Princeville housing market right now
In the three months ending August 31, 2026, 0% of homes in Princeville, IL 61559 sold above their list price, the typical home went under contract in 64 days and there were 3.2 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 4 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking fell from 56%, homes sold more slowly (30 days then) and the median sale price rose 114% to $352,497. Overall, Princeville is less competitive than a year ago, which gives buyers more room.
Within Peoria County, homes here sell more slowly than in 90% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Dunlap 61525 (56% sold over asking) and Edwards 61528 (47% sold over asking) are even more competitive.
Run the numbers for 61559
Nearby markets
Brimfield 61517Seller’s market $138 /sq ftChillicothe 61523Seller’s market $125 /sq ftDunlap 61525Seller’s market $148 /sq ftEdelstein 61526Seller’s market $117 /sq ft Browse all markets →Towns like Princeville nearby
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Questions about Princeville real estate
Is Princeville a buyer’s or seller’s market?
A seller’s market: there were 3.2 months of supply in Princeville, IL 61559 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Princeville?
The typical home went under contract in 64 days in the latest three months.
Do homes in Princeville sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 96.4% of the list price.
What are property taxes in Princeville?
About 2.24% of a home’s value a year in Peoria County, or roughly $8,960 on a $400,000 home.
What is the median home price in Princeville?
The median sale price was $352,497 in the three months ending August 31, 2026, about $107 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology