Illinois median home prices moved higher in February while home sales and inventory were lower than the year before, according to data from Illinois REALTORS®.

In February 2026, statewide home sales (including single-family homes and condominiums) of 7,356 homes sold was 5.9 percent lower than 7,820 sold in February 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 17,685 homes available for sale statewide in February were 5.6 percent less than the 18,731homes available in February 2025. The monthly median price of $295,000 in February 2026 was 3.9 percent more than $284,000 in February 2025. 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, February 2026 home sales (single-family and condominiums) totaled 4,860 homes sold, down 7.8 percent from February 2025 sales of 5,273 homes. In February 2026, there were 11,039 homes for sale in the Chicago Metro Area, a 9.9 percent decrease from 12,258 homes on the market in February 2025. The median price of a home in the Chicago Metro Area of $360,000 in February 2026 was 5.0 percent greater than $343,000 in February 2025.

The city of Chicago experienced a 8.6 percent year-over-year sales decline in February 2026 with 1,226 sales, down from 1,341 in February 2025. In February 2026, there were 3,127 homes for sale in the city of Chicago, a 23.3 percent decrease from 4,079 homes on the market in February 2025. The median price of a home in the city of Chicago in February 2026 was $382,000, a 6.1 percent increase from February 2025 when the median price was $360,000.

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 Mar. 12, 2026, for the period February 1 through February 28, 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 6.05 percent in February 2026, down from 6.10 percent from the month before and down from the February 2025 average of 6.8 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/.