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: March 2026
Median Sale Price
$315K
↑ 4.9% YoY
Days on Market
51 days
↑ 2.0% YoY
Active Inventory
28,976
↓ 2.2% YoY
Homes Sold
10,460
↑ 3.1% YoY
Cool Market
Buyer activity is slowing, creating more negotiating room.
Illinois Market Summary
The Illinois housing market is cooling down. As of March 2026, the median home sale price is $315K, up 4.9% year-over-year. Homes are spending a median of 51 days on the market, 2.0% longer than a year ago.
There are 28,976 homes for sale — 2.2% fewer than last year. With 2.8 months of supply, this is a seller's market. 15,306 new listings were added during this period, up 3.9% year-over-year.
Homes are selling for 99.1% of their list price on average, suggesting room for negotiation. 35.2% of homes sell above their asking price. 17.0% 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 28% below the national median, which could indicate stronger cash flow potential.
Illinois Market Trends
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Detailed Market Metrics
Median List Price
$337K
Price per Sq Ft
$199
Sale-to-List Ratio
99.1%
Months of Supply
2.8
Sold Above List
35.2%
Price Drops
17.0%
New Listings
15,306
↑ 3.9% YoY
Pending Sales
14,556
Metro Areas in Illinois
Chicago, IL metro area
$375K median
51 days
on market
Elgin, IL metro area
$367K median
54 days
on market
Lake County, IL metro area
$371K median
49 days
on market
Peoria, IL metro area
$163K median
29 days
on market
Rockford, IL metro area
$225K median
14 days
on market
Springfield, IL metro area
$208K median
24 days
on market
Champaign, IL metro area
$225K median
57 days
on market
Bloomington, IL metro area
$269K median
46 days
on market
Carbondale, IL metro area
$89K median
113 days
on market
Decatur, IL metro area
$117K median
36 days
on market
Ottawa, IL metro area
$159K median
72 days
on market
Kankakee, IL metro area
$227K median
62 days
on market
Quincy, IL metro area
$183K median
52 days
on market
Freeport, IL metro area
$150K median
38 days
on market
Sterling, IL metro area
$130K median
59 days
on market
Danville, IL metro area
$129K median
34 days
on market
Charleston, IL metro area
$130K median
59 days
on market
Rochelle, IL metro area
$247K median
41 days
on market
Galesburg, IL metro area
$110K median
64 days
on market
Jacksonville, IL metro area
$145K median
73 days
on market
Lincoln, IL metro area
$123K median
33 days
on market
Taylorville, IL metro area
$125K median
36 days
on market
Macomb, IL metro area
$85K median
103 days
on market
Pontiac, IL metro area
$155K median
125 days
on market
Mount Vernon, IL metro area
$134K median
66 days
on market
Effingham, IL metro area
$230K median
41 days
on market
Dixon, IL metro area
$162K median
39 days
on market
Centralia, IL metro area
$129K median
86 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.