Local Realtor Offers 3 Tips for Buying Real Estate in Peoria, IL

Jeffery Noble

Windows of opportunity? 

Yes, the real estate market in the Greater Peoria region has good options for homebuyers in 2025 and beyond. 

The average home sales price in the Peoria metro area in 2024 was $188,000 compared to the national average of $410,000, says Jeff Kolbus, president/owner of Peoria-based RE/MAX Traders Unlimited. 

“The Peoria metro area typically ranks in the top 10 of most affordable real estate communities in the country,” he says. “If you work from home or can live wherever you want, you might consider living in this region.” 

Kolbus got involved in real estate after marrying his wife, Wendy, whose family started the Peoria-based company back in 1937. 

“Wendy and I bought the company from the rest of the family in 2010, and our oldest son, Michael, joined us to become the fourth generation in the business,” he says. “Today, RE/MAX Traders Unlimited is the No. 1 real estate company in the Peoria area in terms of units sold and volume sold, and more than 100 agents work for our company.” 

Kolbus provides some homebuying tips for new residents who are looking to find a great place to live in the Greater Peoria region: 

Get to know the neighborhoods. Greater Peoria offers everything from historic homes in the Moss Avenue District to new builds in Dunlap or Germantown Hills. Explore each area’s vibe, school districts, and proximity to work or amenities before you buy. 

Connect with a local Realtor. Partnering with a Realtor who knows the ins and outs of Greater Peoria’s housing market can help you find those hidden gems, negotiate better and avoid pitfalls unique to the region. 

Think about long-term growth. For example, areas like the Warehouse District and Riverfront are seeing continued development and revitalization, which is ideal for buyers interested in walkability, culture and long-term value. 

“Along with affordability, the Greater Peoria area has great hiking and biking trails, quick commute times, activities on the Illinois River and an attractive quality of life,” Kolbus says. “Also, there are several historic homes in this area, if you like that type of style.”