Market Update

Start with the headline: the August median sales price in Peoria County is $190,000, up 8.3% from $175,500 a year ago, and homes are still selling at 97.8% of their original list price. That is genuine strength, but it is not the whole story. Inventory sits at 268 homes, about 1.4 months of supply, which keeps this a seller's market, yet cumulative days on market have stretched from 16 to 29 days, and nearly three in ten listings take a price cut at some point. Read together, those tell the honest picture: for prepared buyers, negotiating room exists, mostly on homes priced above their evidence, and the buyer who shows up pre-approved with a clear walk-away holds the leverage; for sellers, pricing with current data is what moves homes, because homes that sit are almost always a pricing problem, not a market problem. The freshest city-level measures agree with the county picture: Zillow's average home value for Peoria is about $136,960, up 5.9% year over year, Redfin's city median is near $148,000, up 2.0%, and BlockShopper pegged the county's August median home valuation at $159,500, up 6.3%. And on mortgage rates, my answer has not changed: nobody can reliably predict where rates go next, so the decision is best made from the numbers in front of you, today's payment, today's price, versus renting while you wait.

Whatever your timeline, the first step is turning these numbers into a plan for your specific move. Call or text me at 309-361-4592, or send a note through the contact page, and we will run the comparison for your neighborhood, your budget, and your reasons.

Here is where every figure above comes from:

• Peoria County Local Market Update, RMLS Alliance data: the headline price and activity figures on this page, including median sales price, percent of original list price received, cumulative days on market, inventory, and months of supply for single-family detached homes, current as of September 5, 2026.

• Teri Shepherd's Peoria County Market Report, August 2026: the monthly edition behind the stat cards and month-in-detail tables, covering new listings, pending and closed sales, average sales price, and the 2025 versus 2026 comparisons for the August 2026 reporting period.

• Supporting context: Redfin, Zillow, RealtyTrac, and BlockShopper data published by the Peoria Standard on September 22, 2026, used on this page for city and zip-level typical values, median sale prices, and rent-versus-buy comparisons, from their most recent published data.

• City and valuation context: Zillow Home Value Index for Peoria (updated July 31, 2026), Redfin's Peoria housing market page (three-month figures through July 2026), Houzeo's 2026 Peoria housing market report, and BlockShopper data published by the Peoria Standard for August 2026 home valuations.

• Mortgage rate context: Freddie Mac Primary Mortgage Market Survey released September 24, 2026: average 30-year fixed rate 7.03%, up from 6.30% a year earlier, and average 15-year rate 6.42%, up from 5.49%. Reviewed on this page on September 29, 2026.