Is Peoria, IL 61607 a buyer’s or seller’s market?
Peoria is a seller’s market. With about 1.1 months of supply and 46% 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.
More competitive than 95% of U.S. ZIP codes, and #16 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 August 31, 2026. See the breakdown
The Peoria housing market right now
In the three months ending August 31, 2026, 46% of homes in Peoria, IL 61607 sold above their list price, the typical home went under contract in 10 days and there were 1.1 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 40 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 53%, homes sold faster (19 days then) and the median sale price rose 26% to $204,911. Overall, Peoria is less competitive than a year ago, which gives buyers more room.
Within Peoria County, homes here sell faster than in 75% of the county’s ZIP codes, and sell more often over asking than in 90%. On our competition score, Peoria ranks #16 of 464 IL ZIP codes with enough sales (score 90 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) is even more competitive.
Run the numbers for 61607
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 seller’s market: there were 1.1 months of supply in Peoria, IL 61607 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 10 days in the latest three months.
Do homes in Peoria sell over asking?
46% of homes sold above their original list price, and the typical sale closed at 101.3% 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 $204,911 in the three months ending August 31, 2026, about $108 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