In August 2026, statewide home sales (including single-family homes and condominiums) of 12,103 homes sold was 4.6 percent less than 12,692 sold in August 2025.

The 22,531 homes available for sale statewide in August were 4.7 percent less than the 23,644 homes available in August 2025. The monthly median price of $330,000 in August 2026 was 4.8 percent more than $315,000 in August 2025. The median is a typical market price where half the homes sold for more and half sold for less.

“The Illinois housing market is showing signs of a seasonal slowdown as summer ends, but demand continues to support higher home prices,” said Jeff Kolbus, president of Illinois REALTORS®. “With inventory still below last year’s level, expanding the supply of homes remains essential to giving buyers more choices.”

In the nine-county Chicago Metro Area, August 2026 home sales (single-family and condominiums) totaled 8,153 homes sold, down 4.5 percent from August 2025 sales of 8,535 homes. In August 2026, there were 14,028 homes for sale in the Chicago Metro Area, an 11.0 percent decrease from 15,756 homes on the market in August 2025. The median price of a home in the Chicago Metro Area of $395,000 in August 2026 was 5.3 percent greater than $375,000 in August 2025.

“The Institute for Housing Studies’(IHS) three-month forecast projects that closed sales during September, October, and November will be about 7.4 percent lower than during the same period last year, while single-family home prices are expected to end November about 7 percent higher than a year earlier. Broader conditions for homebuyers remain particularly challenging, with economic uncertainty, inflationary pressures, and elevated mortgage rates expected to constrain market activity this fall,” said Geoff Smith, Executive Director, Institute for Housing Studies at DePaul University in Chicago.

“At the same time, tight inventories continue to put upward pressure on home prices and contribute to ongoing affordability challenges for prospective buyers.”

The city of Chicago experienced a 2.7 percent year-over-year decrease in sales in August 2026 with 1,907 sales, down from 1,960 in August 2025. In August 2026, there were 3,541 homes for sale in the city of Chicago, a 23.3 percent decrease from 4,616 homes on the market in August 2025. The median price of a home in the city of Chicago in August 2026 was $405,000, an 8.0 percent increase from August 2025 when the median price was $375,000.

“Chicago’s housing market remained competitive in August, with home prices continuing to rise even as fewer properties were sold,” said Lutalo McGee, president of the Chicago Association of REALTORS® and owner and designated managing broker of Ani Real Estate. “Limited inventory continues to influence what we’re seeing in the market, but buyers are still motivated to make a move when the right opportunity 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 Sept. 8, 2026, for the period August 1 through August 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 6.67 percent in August 2026, higher than 6.54 percent the month before and up from the August 2025 average of 6.59 percent.

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