Is Peoria, IL 61606 a buyer’s or seller’s market?

The Peoria housing market right now

In the three months ending August 31, 2026, 20% of homes in Peoria, IL 61606 sold above their list price, the typical home went under contract in 41 days and there were 3.4 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 21 home sales.

Compared with the same period a year earlier, the share selling over asking was about the same (21% then), homes sold more slowly (29 days then) and the median sale price rose 17% to $128,744. Overall, Peoria is less competitive than a year ago, which gives buyers more room.

Within Peoria County, homes here sell more slowly than in 70% of the county’s ZIP codes, and sell less often over asking than in 65%. On our competition score, Peoria ranks #431 of 464 IL ZIP codes with enough sales (score 37 out of 100).

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.