SPRINGFIELD, Ill. – Illinois median home prices and available inventory moved higher in July while home sales were slightly lower than the year before, according to data from Illinois REALTORS®.

In July 2025, statewide home sales (including single-family homes and condominiums) of 13,262 homes sold was 0.2 percent lower than 13,294 sold in July 2024. NOTE: One Illinois MLS continues to work through a data feed transition, resulting in a potential discrepancy in the year-over-year data starting in June 2025 statewide sales data of less than 1.5 percent.

The 21,835 homes available for sale statewide in July were 3.9 percent more than the 21,009 homes available in July 2024. The monthly median price of $319,900 in July 2025 was 3.9 percent more than $308,000 in July 2024. The median is a typical market price where half the homes sold for more and half sold for less.

In the nine-county Chicago Metro Area, July 2025 home sales (single-family and condominiums) totaled 9,028 homes sold, down 0.6 percent from July 2024 sales of 9,081 homes. In July 2025, there were 14,356 homes for sale in the Chicago Metro Area, a 1.6 percent increase from 14,124 homes on the market in July 2024. The median price of a home in the Chicago Metro Area of $378,000 in July 2025 was 2.9 percent greater than $367,250 in July 2024.

The city of Chicago experienced a 2.6 percent year-over-year sales decline in July 2025 with 2,158 sales, down from 2,216 in July 2024. In July 2025, there were 4,212 homes for sale in the city of Chicago, a 16.5 percent decrease from 5,047 homes on the market in July 2024. The median price of a home in the city of Chicago in July 2025 was $375,000, a 4.2 percent increase from July 2024 when the median price was $360,000.

Sales and price information are generated by Multiple Listing Service closed sales reported by 20 participating Illinois REALTOR® local boards and associations including Midwest Real Estate Data LLC data as of Aug. 7, 2025, for the period July 1 through July 31, 2025. 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 6.72 percent in July 2025, down from 6.82 percent from the month before and down from the July 2024 average of 6.83 percent.