Chicago, IL metro area Housing Market
Warm MarketComprehensive housing market data for the Chicago, IL metro area metro area. Track home prices, inventory, days on market, and competition — updated monthly for real estate investors.
Data period: March 2026
Median Sale Price
$375K
↑ 4.2% YoY
Days on Market
51 days
↓ 3.8% YoY
Active Inventory
17,326
↓ 5.7% YoY
Homes Sold
5,884
↑ 2.4% YoY
Warm Market
The market is active with moderate buyer demand.
Chicago, IL metro area Market Summary
The Chicago, IL metro area housing market is heating up. As of March 2026, the median home sale price is $375K, up 4.2% year-over-year. Homes are spending a median of 51 days on the market, 3.8% shorter than a year ago.
There are 17,326 homes for sale — 5.7% fewer than last year. With 2.9 months of supply, this is a seller's market. 8,766 new listings were added during this period, up 2.2% year-over-year.
Homes are selling for 100.0% of their list price on average, indicating buyers are paying above asking. 40.1% of homes sell above their asking price. 14.3% of listings have had a price drop.
Market Opportunity Score
Based on current market conditions
60
Contributing Factors
How This Market Compares
vs. National Median
vs. Illinois Median
Investor Takeaway
This market shows balanced conditions. Evaluate individual deals carefully using rent-to-price ratios and local comps.
Chicago, IL metro area Market Trends
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Detailed Market Metrics
Median List Price
$395K
Price per Sq Ft
$231
Sale-to-List Ratio
100.0%
Months of Supply
2.9
Sold Above List
40.1%
Price Drops
14.3%
New Listings
8,766
↑ 2.2% YoY
Pending Sales
8,904
Off Market in 2 Weeks
52.9%
Other Markets in Illinois
Elgin, IL metro area
$367K · 54d on market
Lake County, IL metro area
$371K · 49d on market
Peoria, IL metro area
$163K · 29d on market
Rockford, IL metro area
$225K · 14d on market
Springfield, IL metro area
$208K · 24d on market
Champaign, IL metro area
$225K · 57d on market
Bloomington, IL metro area
$269K · 46d on market
Carbondale, IL metro area
$89K · 113d 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.