Is Peoria, IL 61605 a buyer’s or seller’s market?
Peoria is a buyer’s market. With about 6.4 months of supply, buyers usually have more time and more room to negotiate on price and terms.
More competitive than 9% of U.S. ZIP codes, and #462 of 464 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending July 31, 2026. See the breakdown
The Peoria housing market right now
In the three months ending August 31, 2026, 8% of homes in Peoria, IL 61605 sold above their list price, the typical home went under contract in 23 days and there were 6.4 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. That’s based on 13 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 4%, homes sold faster (37 days then) and the median sale price rose 4% to $36,484. Overall, Peoria is more competitive than a year ago, so tougher for buyers.
Within Peoria County, homes here sell faster than in 50% of the county’s ZIP codes, and sell less often over asking than in 75%.
Nearby, buyers who want less competition could look at Peoria 61602 (0% sold over asking) or Trivoli 61569 (0% sold over asking), while Dunlap 61525 (56% sold over asking) and Edwards 61528 (47% sold over asking) are even more competitive.
Run the numbers for 61605
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 Peoria nearby
Find towns like Peoria in other states →Where Peoria is
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Questions about Peoria real estate
Is Peoria a buyer’s or seller’s market?
A buyer’s market: there were 6.4 months of supply in Peoria, IL 61605 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 Peoria?
The typical home went under contract in 23 days in the latest three months.
Do homes in Peoria sell over asking?
8% of homes sold above their original list price, and the typical sale closed at 91.2% of the list price.
What are property taxes in Peoria?
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 Peoria?
The median sale price was $36,484 in the three months ending August 31, 2026, about $34 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