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PEORIA, IL 61602

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

Market Analysis

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

The PEORIA, IL real estate market (61602) currently shows 24 active listings, with 1 pending sales. Homes are averaging 129 days on the market before going under contract.

Inventory has increased compared to last year, with 5 more homes available — giving buyers more choice.

Homes are taking longer to sell, averaging 129 days on market compared to 123 days last year.

The median listing price has risen 68.9% year-over-year, from $127,300 to $214,975.

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
24
⇧ 26.3% vs 19 last year
Pending
1
4% pending ratio
Median Price
$214,975
⇧ 68.9% vs $127,300 last year
Average Price
$216,456
⇧ 63.9% vs $132,052 last year
Days on Market
129
⇧ 4.9% vs 123 days last year

Price Per Square Foot

Median $/sqft
$130
⇧ 14% vs $114/sqft last year
Median Home Size
1,199 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 24 this year vs 19 last year
  • Days on market: 129 now vs 123 last year

Median & Average Pricing

Year over Year
  • Median: $214,975 (+68.9% YoY)
  • Average: $216,456 (+63.9% 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 15.2 miles — 472 listings ($99,191,274 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
61602Peoria, IL 616020.0 mi23$5,049,443$212,450$219,541
61605Peoria, IL 616051.6 mi33$1,298,715$37,450$39,355
61603Peoria, IL 616032.7 mi57$4,862,670$64,000$85,310
61611East Peoria, IL 616114.2 mi45$9,720,450$165,000$216,010
61614Peoria, IL 616145.4 mi68$17,002,516$214,945$250,037
61615Peoria, IL 616157.1 mi60$16,276,860$216,500$271,281
61547Mapleton, IL 615478.6 mi4$1,390,000$347,500$347,500
61554Pekin, IL 615549.4 mi113$20,078,631$129,900$177,687
61571Washington, IL 615719.6 mi38$11,983,870$219,900$315,365
61525Dunlap, IL 6152512.1 mi20$9,570,000$495,000$478,500
61564South Pekin, IL 6156412.8 mi3$182,850$60,950$60,950
61568Tremont, IL 6156813.8 mi7$1,545,369$222,500$220,767
61569Trivoli, IL 6156915.2 mi1$229,900$229,900$229,900

Frequently Asked Questions

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

As of February 2026, there are 24 active listings in PEORIA, IL (zip code 61602), compared to 19 the prior year.

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

The median listing price in PEORIA, IL 61602 is $214,975 as of February 2026, a 68.9% increase from $127,300 the prior year.

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

Homes in PEORIA, IL 61602 spend an average of 129 days on the market before going under contract, compared to 123 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 February 2026, PEORIA, IL 61602 is currently a Buyer's Market. Inventory has increased compared to last year, with 5 more homes available — giving buyers more choice. Homes are taking longer to sell, averaging 129 days on market compared to 123 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 $4,300 compared to a typical 5% commission on the median listing price of $214,975. 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.