The second three months of 2026 produced a sizeable spike in home sales across the Greater Peoria market.
The Peoria Area Association of Realtors [PAAR] reported more than 1,720 homes sold between April and June, representing a 14.6% increase from the second quarter of last year and a 17.2% boost from the same period in 2024.
“Growth in real estate sales often indicates a trend toward a healthier, balanced real estate market,” PAAR President Leslie Rothan said. “Sellers are feeling a bit more comfortable putting their homes on the market as pent-up buyer demand still stands.”
The positive trend continues after a down year in 2025 ended on a positive note with a strong fourth quarter. Year-to-date figures through June of this year show nearly 2,850 closings, compared to around 2,480 in the first half of last year.
Rothan credits a rise in the number of homes available as a key to the market’s turnaround.
“Over the last few years, it’s been a seller’s market due to the lack of inventory,” said Rothan “Buyers have had to compete to win a contract and have felt burnout when the competition was too stiff, and they lost out on too many homes.
“Whenever the pendulum swings too far to one side of the market, it tips the scales for too long. We are seeing the shift to a market where sellers can still sell, and buyers can buy without as much competition,” she said.
PAAR figures show the Peoria-area inventory in the second quarter of this year was more than 40% higher than the same period a year ago.
The average sale price during the three-month period increased 8% over last year, from around $203,600 to almost $220,000.
“Price and location drive home sales,” said Rothan. “Buyers who have waited to purchase a home have done so long enough that they aren’t feeling the desperation to overpay for a home whose condition does not meet their preference or standards.
“A home that is priced well for its location in good condition will still sell quickly.”
