Overview
Predictions
Supply
Demand
Spotlight
$199,900
22
--Bd
1Ba
600sqft
Condo for sale
MLS ID #12778760, Telequest Corp.
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Written By Aditya APopular Writer
Reviewed By Jorge RReal Estate Broker
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Spotlight777 N Michigan Ave #3102, Chicago, IL 60611 
HotSpotlight
573 Crooked Stick Ct, Vernon Hills, IL 60061HotSpotlight
1518 W Lincoln Rd, McHenry, IL 60051 HotSpotlight
1458 Linden Ave, Highland Park, IL 60035 Spotlight
3013 Dorothy Dr, Aurora, IL 60504 Spotlight
425 Crestmore Ave, Mattoon, IL 61938 Spotlight
149 Timber Edge Ln, Palos Park, IL 60464 Spotlight
1274 Greenbay Ave, Calumet City, IL 60409 HotSpotlight
21070 W Hazelnut Ln, Plainfield, IL 60544 Spotlight
1073 Foxworth Blvd, Lombard, IL 60148 
6818 Maple Ct, Bridgeview, IL 60455
309 W Maple St, Hinsdale, IL 60521
237 Cedar Ln, Sherrard, IL 61281
No HOA
10224 S Princeton Ave, Chicago, IL 60628
1199 E Port Clinton Rd #711, Vernon Hills, IL 60061
5201 Carriageway Dr #C210, Rolling Meadows, IL 60008
1222 S Karlov Ave, Chicago, IL 60623
7859 S Eggleston Ave, Chicago, IL 60620
5415 N Sheridan Rd #3514, Chicago, IL 60640
3D Tour
2370 Fishhook Way, Wauconda, IL 60084
MRED MLS-IL
IllinoisHousing Market
Illinois is a balanced market, giving buyers and sellers room to negotiate. With 2.2 months of supply and homes averaging 52 days on the market, you can make decisions without the pressure of a highly competitive market.
Verified Data
Updated Monthly
Fast Insights
Real-time Analytics
September 2026
Last updated
Live MLS Data |29,945 active homes tracked
|Data Sources:
MRED MLS-IL
#36 in Nation
Illinois Real Estate Market Snapshot
MEDIAN HOME PRICE
$345,000↑ 6.15%
MORTGAGE RATES 30-YR 30-YR FIXED
6.23%↓ 0.58%
STATUS
Balanced Market
DAYS ON MARKET
52
↓ 0.00% YoY
INVENTORY
21,256
↓ 13.36% YoY
Is Now a Good Time to Buy or Sell in Illinois? Here's What We Think.
It depends on your goals, but Illinois offers a relatively balanced market for both buyers and sellers. Homes are averaging 52 days on the market, with 2.2 months of supply. The median sale price is $345,000, and home sales saw a 7.06% change from last year. Buyers have room to negotiate, while sellers can still attract serious interest.
Median Sale Price
$345,000
↑ 6.15%YoY
Homes Sold
9,676
↓ 7.06%YoY
Median Days on Market
52
↓ 0YoY
What this chart showsMedian Sale Price
This metric shows how home prices are trending in Illinois. A rising median price can point to stronger demand or limited inventory, while a falling price may give buyers more room to negotiate.
Median Sale Price Trend
AllSingle Family HomesTownhousesCondo
1 Year3 Years5 Years
Illinois
Updated MonthlyLast Updated: September 2026
Want to explore markets by city?
View detailed city insights.
Illinois Housing Market Forecast for 2026
Illinois's housing market is expected to be balanced in 2026, with modest price growth, steady inventory, and stable conditions for both buyers and sellers. Sellers who'd rather not wait it out can still get multiple cash offers in Illinois right now.
Market Outlook:
- Home prices expected to rise modestly by 2-4%, reflecting sustainable growth
- Months of supply forecast to sit around 4-6, keeping the market steady
- Neither buyers nor sellers hold a clear advantage, keeping negotiations balanced
Will the Illinois Housing Market Crash in 2026?
Expert consensus points to no. Illinois benefits from strong buyer demand and limited housing supply, conditions that support prices rather than undermine them. Sellers should expect continued interest and quick sales through 2026, with little pressure to discount.
UnlikelyCrash MeterLikely
Current Market Indicators
Days on Market:
52 days
Months of Supply:
2.2 months
Sale-to-List Ratio:
99.34%
Mortgage Rates:
Currently- 6.23% projected to hover between 6.0% and 6.8%
Is There Enough Inventory in Illinois Right Now?
Illinois has a steady flow of homes coming onto the market, keeping inventory relatively balanced. There are currently 21,256 active listings and 2.2 months of supply, giving buyers a reasonable selection without creating excessive competition among sellers. There were 15,728 new listings last month, while inventory changed by 13.36% year-over-year.
Homes for Sale
21,256
↓ 13.36%YoY
Newly Listed Homes
15,728
↓ 8.30%YoY
Months of Supply
2.2
↓ 8.33%YoYBalanced Market
What this chart showsHomes for Sale
This chart shows the total number of homes currently available for sale in Illinois. Rising inventory gives buyers more options, while fewer homes for sale can increase competition and give sellers more leverage.
Homes for Sale Trend
AllSingle Family HomesTownhousesCondo
1 Year3 Years5 Years
Illinois
Updated MonthlyLast Updated: September 2026
Are Buyers or Sellers Controlling the Illinois Market?
Buyers and sellers have relatively equal footing in the Illinois housing market. Homes are selling for 99.34% of their asking price, and price reductions saw a marginal change year-over-year. Neither side has a clear advantage, leaving room for both to negotiate.
Homes Sold Above List Price
35.33%
↑ 2.91%YoY
Homes with Price Drops
45.49%
↓ 2.47%YoY
Sale-to-List Ratio
99.34%
↑ 0.11%YoYBalanced Market
What this chart showsSold Above List
The line tracks the share of homes selling above their asking price over time. A rising trend signals strong buyer competition and bidding wars, while a falling trend suggests that competition is easing.
Homes Sold Above List Price Trend
AllSingle Family HomesTownhousesCondo
1 Year3 Years5 Years
Illinois
Updated MonthlyLast Updated: September 2026
Explore Illinois Housing Markets by City
Compare median listing prices, homes sold, and newly listed properties across Illinois's top cities.
Housing Market by City
CityMedian PriceMedian Listing PriceHomes SoldNewly ListedDays on MarketMonths of SupplyTrendMarket Trend
View top 15 cities →
WHERE TO BUY NEXT
Best Places to Live in Illinois
Ranked on affordability, safety, and quality of life. Click a side card to focus it, or the focused card to see full rankings.
#3 BEST PLACE
chicago, IL
MEDIAN PRICE
$410,000
DAYS ON MARKET
54
MEDIAN HOME RENT
$1,950
#2 BEST PLACE
evanston, IL
MEDIAN PRICE
$497,500
DAYS ON MARKET
48
MEDIAN HOME RENT
$2,295
Find Your Perfect Illinois Home Now
29,945 homes for sale in IllinoisSpotlightHotSpotlight$960,000
27
4Bds
4Ba
3,676sqft
Single family home for sale
MLS ID #12759477, Telequest Corp.
HotSpotlight$850,000
29
4Bds
3Ba
6,817sqft
Single family home for sale
MLS ID #12772281, Telequest Corp.
HotSpotlight$393,000
21
3Bds
1Ba
1,247sqft
Single family home for sale
MLS ID #12756090, Realty One Group Inc.
Spotlight$309,900
31
3Bds
2Ba
1,250sqft
Multi family home for sale
MLS ID #12751695, Telequest Corp.
Spotlight$232,000
30
3Bds
3Ba
2,268sqft
Single family home for sale
MLS ID #12662452, Realty One Group Inc.
Spotlight$779,000
5
4Bds
3Ba
3,394sqft
Single family home for sale
MLS ID #12758296, Realty One Group Inc.
Spotlight$215,000
19
3Bds
2Ba
1,102sqft
Single family home for sale
MLS ID #12673667, Realty One Group Inc.
HotSpotlight$409,900
67
2Bds
3Ba
2,299sqft
Single family home for sale
MLS ID #12726939, Realty One Group Inc.
Spotlight$435,999
21
4Bds
2Ba
1,092sqft
Single family home for sale
MLS ID #12514733, Realty One Group Inc.
$139,000
2
4Bds
1Ba
1,289sqft
Single family home for sale
MLS ID #12782325, Option Premier Llc
$1,849,000
4Bds
4Ba
4,500sqft
Single family home for sale
MLS ID #12782249, Renovo Realty
$569,000
1
4Bds
4Ba
3,750sqft
Single family home for sale
MLS ID #12781132, Nexthome Qc Realty
No HOA$219,000
4
5Bds
3Ba
2,515sqft
Single family home for sale
MLS ID #12775565, Lpt Realty Llc
$460,000
6
2Bds
2Ba
1,437sqft
Condo for sale
MLS ID #12728217, Compass
$249,995
2
2Bds
1Ba
1,100sqft
Condo for sale
MLS ID #12782323, Homesmart Connect Llc
$579,000
6Bds
3Ba
--sqft
Multi family home for sale
MLS ID #12782315, Inter Properties Inc
$170,000
8Bds
4Ba
--sqft
Multi family home for sale
MLS ID #12782286, Keri Hir
$259,900
2
1Bd
1Ba
680sqft
Condo for sale
MLS ID #12782278, Dralyuk Real Estate Inc.
3D Tour$600,000
4Bds
3Ba
3,388sqft
Single family home for sale
MLS ID #12781646, @Properties Christies International Real Estate
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Frequently Asked Questions
How have home prices changed in Illinois over the past year?
Illinois's median home price is currently $345,000, a 6.15% change year-over-year. You can check your home's fair market value with our free home value estimator to compare prices in your neighborhood and know where you stand.
Are home prices dropping in Illinois?
Currently, home prices are stable with localized variations across different counties and cities. Experts forecast growth in Illinois home prices through 2026, although increased inventory may moderate prices in overvalued areas.
What's the average price for a house in Illinois?
The average cost of a home in Illinois typically ranges from $290,000 for condos to $360,000 for single-family homes, depending on location, size, and market conditions.
What are the Illinois housing market predictions in 2026 and beyond?
The housing market in Illinois is expected to stabilize in 2026, alongside rising mortgage rates. Our housing market predictions suggest that the supply of Illinois houses should increase enough to stabilize price growth.
What is a good time to buy a home in Illinois?
Typically, from August to December is the best time to buy when supply is high and demand is low. You must check the current market trends in home prices and inventory in Illinois. If mortgage rates are stable, the median market time is more than 70 days, with more than 5 months of supply, it's the best time to buy a house in Illinois.
What are the steps to buying houses in Illinois?
As a buyer, you should keep an eye on price changes and inventory levels. If you're buying a house in Illinois, you should get a mortgage pre-approval and budget for a down payment of at least 10%.
How can I list my home for sale in Illinois?
You can list your home for sale with a Flat Fee MLS Illinois listing service. High-tech MLS listing sites like Houzeo automatically assign the right MLS paperwork based on your location. 🚀
What is the average mortgage rate for buyers in Illinois?
The average mortgage rate for buyers in the Illinois real estate market fluctuates between 6% to 8%. Always check your credit score and current mortgage rates with lenders before you apply.
When will the housing market crash in Illinois?
A housing market crash in Illinois is unlikely in the near future. Prices remain well above pre-COVID levels and continue to show resilience. Most forecasts point to slower growth or mild corrections rather than a sharp drop through 2026. However, it is wise to track local market trends and expert forecasts before making an investment decision.
Our MLS data sources
All sources updated daily
Median prices, rents and active inventory aggregated from MLS systems across Illinois.
Important Legal Disclosures
*Based on Houzeo calculations of home data from MLS and/or public records.
“The market analysis provided on this page is for informational purposes only and does not constitute financial, investment, or legal advice. Data is sourced from public records, industry reports, and third-party providers, and while Houzeo strives for accuracy, we make no guarantees regarding the completeness, accuracy, or timeliness of the information presented.
All estimates, projections, and historical data are based on statistical models and should not be relied upon as predictions of future market conditions. Past performance is not indicative of future results, and real estate market conditions may change due to various economic and regulatory factors.
Users are responsible for conducting their own due diligence before making any real estate or financial decisions. Houzeo is not liable for any decisions or actions taken based on the information provided. Any unauthorized use, duplication, or distribution of the data may violate copyright laws and result in legal consequences. Certain information, tools and services on this page may be powered by third-party vendors. Houzeo does not control or guarantee the accuracy, reliability, or functionality of such third-party services.
This representation is based in whole or in part on data supplied by Midwest Real Estate Data, LLC through Oct 9, 2026, 2:30 PM. Midwest Real Estate Data, LLC does not guarantee nor is it in any way responsible for its accuracy. Data maintained by Midwest Real Estate Data LLC may not reflect all real estate activity in the market.
Based on information submitted to the MLS GRID as of Oct 9, 2026, 2:30 PM. All data is obtained from various sources and has not been, and will not be, verified by broker or MLS GRID. Supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. This website may not include listings or property addresses of sellers who have directed their listing brokers to withhold their listing or their property address from display on the Internet. Some IDX listings have been excluded from this website. Information is provided exclusively for consumers’ personal non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID, MRED or Houzeo. The use of the MLS GRID Data may be subject to an end user license agreement. Properties displayed may be listed or sold by various participants in the MLS,
Listings courtesy of MRED as distributed by MLS GRID. ©2026 Midwest Real Estate Data LLC. All Rights Reserved