Chicago Market Report · IL Home Values
Chicago, IL holds about 1,277,054 homes, 46% of them owner-occupied, with a median year built of 1954. Housing stock ranges from multi-unit brick flats and vintage condominiums to detached city homes. Property buyers balance lot density and shared walls against suburban yard sizes in towns like Naperville or Downers Grove. Purchase decisions focus on street location and residential building age.
The Chicago median sold price stands at $425,000 as of May 2026, +6% year over year. The twelve-month peak was $425,000 in April 2026. 24,715 homes closed over the period, averaging 101.8% of list price most recently, with 47 days on market.
Read the trend, not the single month. Chicago pricing follows preparation and seasonality more than it follows rate news, and the spread between prepared and unprepared homes is wider than the median suggests. A street-level read is a different number from the one above, and the table below is where it starts.
Chicago by the month
12 months of Chicago closings, June 2025 through May 2026. Each panel is one series; the table carries every figure.
The properties shown here are transactions I personally represented, compiled from my public agent record. This site is not an MLS IDX feed and does not show the full active market; ask me and I will pull everything that fits.
Source: Redfin (through May 2026) · U.S. Census ACS (2024)
Twelve months of Chicago closings
| Month | Median sold | Closed | New listings | Avg DOM | List-to-sale |
|---|---|---|---|---|---|
| June 2025 | $401,000 | 2,695 | 2,957 | 50 | 100.4% |
| July 2025 | $385,000 | 2,452 | 2,787 | 54 | 99.9% |
| August 2025 | $385,000 | 2,249 | 2,526 | 55 | 99.5% |
| September 2025 | $370,000 | 2,062 | 2,788 | 55 | 99.4% |
| October 2025 | $380,000 | 2,120 | 2,524 | 56 | 99.1% |
| November 2025 | $365,000 | 1,599 | 1,585 | 57 | 98.7% |
| December 2025 | $365,000 | 1,951 | 1,184 | 67 | 98.5% |
| January 2026 | $354,450 | 1,228 | 2,110 | 76 | 98.3% |
| February 2026 | $390,000 | 1,429 | 2,461 | 69 | 99.1% |
| March 2026 | $410,250 | 2,024 | 3,121 | 50 | 100.4% |
| April 2026 | $425,000 | 2,431 | 3,346 | 48 | 101.2% |
| May 2026 | $425,000 | 2,475 | 3,187 | 47 | 101.8% |
The properties shown here are transactions I personally represented, compiled from my public agent record. This site is not an MLS IDX feed and does not show the full active market; ask me and I will pull everything that fits.
Source: Redfin (through May 2026) · U.S. Census ACS (2024)
What the Chicago numbers say
The median Chicago home sold for $425,000 in May 2026, up 6% from $401,000 in June 2025.
Homes averaged 47 days on the market and closed at 101.8% of list price in May 2026. That is 3 days faster than June 2025.
At the pace of the last three months, the 6,879 homes on the market in Chicago represent about 3 months of supply: less than four months, which is the range where prepared homes tend to clear quickly and buyers have little room to wait.
Buyers should expect to move on a home in days rather than weeks, and to have the comparable sales in hand before writing. Sellers are getting close to their asking price, which usually means the price was set against recent comparable sales rather than against what neighbors are asking.
Source: Redfin (through May 2026) · U.S. Census ACS (2024)
Talk to someone who works Chicago
I have 2 years in these neighborhoods and answer personally.