In July 2026, statewide home sales (including single-family homes and condominiums) of 13,503 homes sold was 0.8 percent more than 13,390 sold in July 2025.
The 22,363 homes available for sale statewide in July were 4.7 percent less than the 23,467 homes available in July 2025. The monthly median price of $338,000 in July 2026 was 6.0 percent more than $319,000 in July 2025. The median is a typical market price where half the homes sold for more and half sold for less.
“The Illinois housing market remained steady in July, with sales holding close to levels from a year ago and median prices continuing to rise,” said Jeff Kolbus, president of Illinois REALTORS®. “Limited inventory is keeping the market competitive for buyers and underscores the importance of expanding housing options statewide.”
In the nine-county Chicago Metro Area, July 2026 home sales (single-family and condominiums) totaled 9,108 homes sold, down 0.5 percent from July 2025 sales of 9,154 homes. In July 2026, there were 13,970 homes for sale in the Chicago Metro Area, a 11.9 percent decrease from 15,853 homes on the market in July 2025. The median price of a home in the Chicago Metro Area of $401,000 in July 2026 was 6.8 percent greater than $375,500 in July 2025.
“The Institute for Housing Studies’(IHS) three-month forecast projects that closed sales activity during August, September, and October will be about 0.4 percent higher than a year earlier, while single-family home prices in October are expected to be about 5.5 percent higher. Despite limited growth in sales, tight inventories continue to put upward pressure on home prices,” said Geoff Smith, Executive Director, Institute for Housing Studies at DePaul University in Chicago.
“Combined with elevated mortgage rates, those rising prices are creating significant affordability challenges for prospective homebuyers and limiting overall market activity.”
The city of Chicago experienced a 2.9 percent year-over-year decrease in sales in July 2026 with 2,137 sales, down from 2,201 in July 2025. In July 2026, there were 3,502 homes for sale in the city of Chicago, a 26.3 percent decrease from 4,753 homes on the market in July 2025. The median price of a home in the city of Chicago in July 2026 was $425,000, a 13.3 percent increase from July 2025 when the median price was $375,000.
“July’s market data continues to reflect strong demand for a limited supply of homes, with prices rising and properties spending fewer days on the market,” said Lutalo McGee, president of the Chicago Association of REALTORS® and owner and designated managing broker of Ani Real Estate. “Buyers are actively competing for the homes that are available, while homeowners considering a move have an opportunity to bring much-needed inventory to the market.”
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 August 7, 2026, for the period July 1 through July 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 6.5 percent in July 2026, same as 6.5 percent the month before and down from the July 2025 average of 6.7 percent.
Find Illinois housing stats, data and the latest forecast from the Institute for Housing Studies at DePaul University at www.illinoisrealtors.org/marketstats/.
