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PEORIA, IL 61602

Real Estate Market Report  ·  Peoria County
Buyer's Market
March 2026  ·  Source: Realtor.com

Market Analysis

Data as of March 2026. Source: Realtor.com.

The PEORIA, IL real estate market (61602) currently shows 23 active listings, with 2 pending sales. Homes are averaging 156 days on the market before going under contract.

Inventory has increased compared to last year, with 1 more homes available — giving buyers more choice.

Homes are taking longer to sell, averaging 156 days on market compared to 119 days last year.

The median listing price has risen 83.7% year-over-year, from $122,500 to $225,000.

Whether you are buying or selling in PEORIA, IL, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Context

Market Context

Population: 862  ·  Density: 298.6/mi²  ·  Median household income: $20,000

Typical home value: $236,156  ·  Homeownership: 16.4%

Market Overview

Active Listings
23
⇧ 4.5% vs 22 last year
Pending
2
9% pending ratio
Median Price
$225,000
⇧ 83.7% vs $122,500 last year
Average Price
$224,323
⇧ 64.1% vs $136,705 last year
Days on Market
156
⇧ 31.1% vs 119 days last year

Price Per Square Foot

Median $/sqft
$137
⇧ 23.4% vs $111/sqft last year
Median Home Size
1,292 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 23 this year vs 22 last year
  • Days on market: 156 now vs 119 last year

Median & Average Pricing

Year over Year
  • Median: $225,000 (+83.7% YoY)
  • Average: $224,323 (+64.1% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 14.6 miles — 478 listings ($109,944,930 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
61602Peoria, IL 616020.0 mi24$5,194,944$214,975$216,456
61605Peoria, IL 616051.6 mi38$1,708,556$39,900$44,962
61603Peoria, IL 616032.7 mi48$4,160,928$61,975$86,686
61611East Peoria, IL 616114.2 mi53$12,598,365$177,450$237,705
61614Peoria, IL 616145.4 mi68$17,807,636$225,195$261,877
61615Peoria, IL 616157.1 mi60$17,586,780$257,175$293,113
61547Mapleton, IL 615478.6 mi6$1,948,428$288,175$324,738
61554Pekin, IL 615549.4 mi103$21,697,053$145,550$210,651
61571Washington, IL 615719.6 mi42$14,188,062$263,675$337,811
61525Dunlap, IL 6152512.1 mi21$9,397,836$419,900$447,516
61564South Pekin, IL 6156412.8 mi3$182,850$60,950$60,950
61568Tremont, IL 6156813.8 mi11$3,253,492$229,325$295,772
61733Deer Creek, IL 6173314.6 mi1$220,000$220,000$220,000

Frequently Asked Questions

How many homes are for sale in PEORIA, IL 61602?

As of March 2026, there are 23 active listings in PEORIA, IL (zip code 61602), compared to 22 the prior year.

What is the median home price in PEORIA, IL 61602?

The median listing price in PEORIA, IL 61602 is $225,000 as of March 2026, a 83.7% increase from $122,500 the prior year.

How long do homes stay on the market in PEORIA, IL?

Homes in PEORIA, IL 61602 spend an average of 156 days on the market before going under contract, compared to 119 days the prior year.

Is it a seller's or buyer's market in PEORIA, IL 61602?

Based on current inventory and days-on-market data as of March 2026, PEORIA, IL 61602 is currently a Buyer's Market. Inventory has increased compared to last year, with 1 more homes available — giving buyers more choice. Homes are taking longer to sell, averaging 156 days on market compared to 119 days last year.

How much can I save on real estate commission in PEORIA, IL?

With SELL123.com's maximum 3% commission, sellers in PEORIA, IL 61602 save an estimated $4,500 compared to a typical 5% commission on the median listing price of $225,000. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.