Illinois Housing Market: Prices and Sales Are Up, Inventory Is Down
- grace264
- 3 days ago
- 2 min read
According to newly released official data, Illinois home sales in October 2025 rose about 2.6% year-over-year, while the median home price increased 5.6%.At the same time, the number of homes for sale dropped 3.4% statewide, and inventory in the Chicago metro area (nine-county region) fell about 6.7%.
In short, demand remains steady while supply continues to tighten.
What This Means for Sellers
Rising prices and higher transaction volumes are clear positive signals for sellers.
If you’ve been considering selling your home, now may be an ideal time to list.
With fewer competing listings, you may have a stronger negotiating position.
However, because the market is moving quickly, prepare early—refresh your property, schedule photography, and complete listing materials in advance to capture strong buyer interest.
What This Means for Buyers
For buyers, fewer listings mean less selection—but also a signal that waiting could become more expensive.
With prices trending upward, postponing your purchase may mean entering the market at a higher price point later.
Review your budget, loan options, and target neighborhoods now so you’re ready to act when the right property appears.
Since inventory is tightening, being pre-approved and prepared to make a quick decision gives you an advantage when a desirable home hits the market.
Local Strategy Tips
For sellers in the Chicago metro area (Cook, DuPage, Kane, etc.):
Median prices are climbing faster than the national average. Listing now could position your home well in the current upward trend.
For buyers in suburban areas:
Because supply is shrinking, start the process early—visit potential homes, clarify your conditions, and secure pre-approval.
For owners considering renovations:
In a low-inventory market, well-maintained or upgraded homes tend to attract stronger offers, so preparing your property now can pay off later.
Bottom Line
The Illinois housing market currently shows a pattern of rising prices and sales amid shrinking inventory.For sellers, this could be a valuable window of opportunity.For buyers, preparation and timing are key—those who plan ahead are in the best position to move confidently when the right listing appears.
If you’d like personalized insights for your local area, I’m happy to help.
Chicago Real Estate – Hansangcheol
📞 773-717-2227
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