Peoria Illinois House For Sale

Peoria, Illinois House For Sale?

Sell, don't sell, buy, don't buy - tough decisions - be advised - will you survive, will you die? Will you Bison burger? How many buffalo burgers will you eat there?

The real estate market in Peoria, Illinois, is currently a seller's market, characterized by strong demand and limited inventory. This has led to an increase in home prices and quick sales.

Here's a summary of the current housing market in Peoria, IL, as of June/July 2025:

Current Market Conditions:

Seller's Market: There are more buyers than available homes, giving sellers an advantage.
Rising Prices: The median sale price of a home in Peoria has been increasing significantly. In June 2025, the median sale price was reported to be around $190,000 (Redfin) or $155,000 (Rocket), with some sources indicating an average sold price of $166,340 year-to-date through June 2025 (Rodgers Real Estate Group). These figures represent a notable increase compared to last year (e.g., +11.8% year-over-year according to Redfin).
Fast Sales: Homes are selling quickly, with a median of 16 days on the market in June 2025 (Redfin) or even as low as 4 days to pending (Zillow). Many homes receive multiple offers.
Low Inventory: The number of homes for sale is constrained. The average number of homes for sale was around 200 in June 2025, a significant decline from previous years. New listings have also been decreasing.
Sale-to-List Price: Homes are generally selling very close to or even above the asking price. In June 2025, Peoria homes sold for approximately the asking price on average (Realtor.com), with some selling over asking (Redfin, Rocket).