Illinois Housing Market
Cool MarketHousing market data and trends for Illinois. Track median prices, inventory, days on market, and competition metrics for real estate investors.
Data period: January 2026
Median Sale Price
$291K
↑ 2.5% YoY
Days on Market
63 days
↓ 1.6% YoY
Active Inventory
24,741
↓ 5.5% YoY
Homes Sold
6,959
↓ 12.1% YoY
Cool Market
Buyer activity is slowing, creating more negotiating room.
Illinois Market Summary
The Illinois housing market is cooling down. As of January 2026, the median home sale price is $291K, up 2.5% year-over-year. Homes are spending a median of 63 days on the market, 1.6% shorter than a year ago.
There are 24,741 homes for sale — 5.5% fewer than last year. With 3.6 months of supply, this is a seller's market. 9,794 new listings were added during this period, down 0.5% year-over-year.
Homes are selling for 97.8% of their list price on average, suggesting room for negotiation. 25.6% of homes sell above their asking price. 17.8% of listings have had a price drop.
Market Opportunity Score
Based on current market conditions
68
Contributing Factors
How This Market Compares
vs. National Median
Investor Takeaway
The cooling market may present buying opportunities with less competition and more negotiating leverage. Prices are 31% below the national median, which could indicate stronger cash flow potential.
Illinois Market Trends
Median Sale Price
Median Days on Market
Active Inventory
Homes Sold
Sale-to-List Ratio
Listings with Price Drops
Detailed Market Metrics
Median List Price
$314K
Price per Sq Ft
$187
Sale-to-List Ratio
97.8%
Months of Supply
3.6
Sold Above List
25.6%
Price Drops
17.8%
New Listings
9,794
↓ 0.5% YoY
Pending Sales
9,566
Metro Areas in Illinois
Chicago, IL metro area
$348K median
70 days
on market
Lake County, IL metro area
$361K median
66 days
on market
Elgin, IL metro area
$356K median
71 days
on market
Peoria, IL metro area
$163K median
40 days
on market
Rockford, IL metro area
$215K median
28 days
on market
Springfield, IL metro area
$182K median
9 days
on market
Champaign, IL metro area
$227K median
57 days
on market
Bloomington, IL metro area
$237K median
54 days
on market
Decatur, IL metro area
$115K median
47 days
on market
Carbondale, IL metro area
$139K median
81 days
on market
Ottawa, IL metro area
$185K median
66 days
on market
Kankakee, IL metro area
$195K median
68 days
on market
Quincy, IL metro area
$179K median
59 days
on market
Danville, IL metro area
$115K median
41 days
on market
Sterling, IL metro area
$130K median
57 days
on market
Jacksonville, IL metro area
$142K median
32 days
on market
Freeport, IL metro area
$140K median
25 days
on market
Rochelle, IL metro area
$240K median
59 days
on market
Lincoln, IL metro area
$165K median
28 days
on market
Charleston, IL metro area
$166K median
44 days
on market
Centralia, IL metro area
$103K median
63 days
on market
Galesburg, IL metro area
$140K median
57 days
on market
Taylorville, IL metro area
$120K median
40 days
on market
Pontiac, IL metro area
$155K median
99 days
on market
Mount Vernon, IL metro area
$210K median
81 days
on market
Effingham, IL metro area
$191K median
97 days
on market
Dixon, IL metro area
$184K median
65 days
on market
Macomb, IL metro area
$86K median
53 days
on market
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Try It FreeHousing market data provided by Redfin, a national real estate brokerage. Not financial advice. Always consult a qualified professional before making investment decisions.