In March 2026, statewide home sales (including single-family homes and condominiums) of 10,075 homes sold was 3.1 percent more than 9,774 sold in March 2025. NOTE: One Illinois MLS continues to work through a data feed transition, which may contribute to a minor variance in statewide year-over-year figures.

The 17,099 homes available for sale statewide in March were 7.7 percent less than the 18,526 homes available in March 2025. The monthly median price of $315,000 in March 2026 was 6.8 percent more than $295,000 in March 2025. The median is a typical market price where half the homes sold for more and half sold for less.

“March saw a modest increase in sales, even as higher borrowing costs and affordability challenges continued to shape buyer activity,” said Jeff Kolbus, president of Illinois REALTORS®, president and owner of RE/MAX Traders Unlimited in Peoria. “With inventory trending lower, prices maintained their upward momentum.”

In the nine-county Chicago Metro Area, March 2026 home sales (single-family and condominiums) totaled 6,928 homes sold, up 3.8 percent from March 2025 sales of 6,672 homes. In March 2026, there were 10,455 homes for sale in the Chicago Metro Area, a 13.1 percent decrease from 12,034 homes on the market in March 2025. The median price of a home in the Chicago Metro Area of $375,000 in March 2026 was 4.2 percent greater than $360,000 in March 2025.

“The Institute for Housing Studies’ (IHS) three-month forecast projects that Illinois home sales from April through June will rise by approximately 2.5 percent compared to the same period last year. Home prices in June are expected to remain relatively flat compared with the previous year,” said Geoff Smith, Executive Director, Institute for Housing Studies at DePaul University in Chicago.

“Volatile economic conditions, combined with tight inventory, fluctuating mortgage rates, and ongoing affordability challenges, are likely to continue to present headwinds for prospective homebuyers in the coming months,” Smith said.

The city of Chicago experienced a 4.3 percent year-over-year decrease in sales in March 2026 with 1,766 sales, down from 1,845 in March 2025. In March 2026, there were 2,981 homes for sale in the city of Chicago, a 28.8 percent decrease from 4,188 homes on the market in March 2025. The median price of a home in the city of Chicago in March 2026 was $409,200, a 7.7 percent increase from March 2025 when the median price was $380,000.

“March’s data highlights the continued impact of limited housing supply in Chicago, even during an active Spring market,” said Lutalo McGee, president of the Chicago Association of REALTORS® and owner and designated managing broker of Ani Real Estate. “Inventory is down nearly 29 percent, while prices continue to rise and homes are selling faster, showing that buyer demand remains strong. While uncertainty in the broader economy is causing some hesitation, this is still a strong opportunity for sellers to enter the market, as motivated buyers are ready to act when the right home becomes available.”

Sales and price information are generated by Multiple Listing Service closed sales reported by 18 participating Illinois REALTOR® local boards and associations including Midwest Real Estate Data LLC data as of April 7, 2026, for the period March 1 through March 31, 2026. The Chicago Metro Area, as defined by the U.S. Census Bureau, includes the counties of Cook, DeKalb, DuPage, Grundy, Kane, Kendall, Lake, McHenry and Will.

Based on the Freddie Mac data, the monthly average commitment rate for a 30-year, fixed-rate mortgage was 6.2 percent in March 2026, up from 6.0 percent from the month before and down from the March 2025 average of 6.7 percent.

Find Illinois housing stats, data and the March 2026 forecast from the Institute for Housing Studies at DePaul University at www.illinoisrealtors.org/marketstats/.