As someone deeply invested in helping clients navigate the Illinois real estate market, I've noticed how resilient Chicago's housing prices have remained. In Mid-Q3, the median list price in Chicago climbed to $395K, underscoring how limited inventory is still keeping things very seller-friendly across the state. With only 15,100 active listings in Chicago and inventory down about 6% from last year, homes are moving quickly—spending a median of just 36 days on the market. One of the consistent challenges I see is supply scarcity statewide; Illinois hasn't rebounded to pre-pandemic inventory levels, which is a big factor in how I help both buyers and sellers strategize. The pace of new construction per capita is also lagging nationally, something I always encourage investors and folks relocating to keep in mind. Even with mortgage rates hovering around 7% and squeezing affordability, the lack of available homes continues to fuel competition. These factors are shaping decisions for buyers, sellers, and investors—not just now, but well into 2026. My approach is always to listen closely and tailor strategies so my clients can make smart, informed moves in this ever-changing landscape.
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