Illinois median home prices moved higher in November while available home sales and inventory were lower than the year before, according to data from Illinois REALTORS®.
In November 2025, statewide home sales (including single-family homes and condominiums) of 9,207 homes sold was 9.0 percent less than 10,123 sold in November 2024.
The 21,305 homes available for sale statewide in November were 5.1 percent less than the 22,449 homes available in November 2024. The monthly median price of $299,000 in November 2025 was 4.9 percent more than $285,000 in November 2024. The median is a typical market price where half the homes sold for more and half sold for less.
"November saw a seasonal slowdown in sales, but prices still moved higher," said Jeff Kolbus, president of Illinois REALTORS® and president and owner of RE/MAX Traders Unlimited in Peoria. "Limited inventory kept the market competitive throughout the month."
In the nine-county Chicago Metro Area, November 2025 home sales (single-family and condominiums) totaled 5,965 homes sold, down 10.5 percent from November 2024 sales of 6,667 homes. In November 2025, there were 13,111 homes for sale in the Chicago Metro Area, a 9.7 percent decrease from 14,513 homes on the market in November 2024. The median price of a home in the Chicago Metro Area of $360,000 in November 2025 was 3.2 percent greater than $349,000 in November 2024.
"The Institute for Housing Studies' (IHS) three-month forecast projects that Illinois home sales will decline by approximately 8.7 percent between November and February compared to the same period last year. While home prices are expected to follow typical seasonal patterns and soften slightly through the winter months, they are projected to remain strong overall, with February prices nearly 8 percent higher year over year," said Geoff Smith, Executive Director, Institute for Housing Studies at DePaul University in Chicago.
"As has been the case throughout the year, tight inventories, elevated prices, and persistent affordability issues continue to pose significant challenges for Illinois homebuyers," Smith said.
The city of Chicago experienced an 11.8 percent year-over-year decrease in sales in November 2025 with 1,332 sales, down from 1,510 in November 2024. In November 2025, there were 3,707 homes for sale in the city of Chicago, a 24.7 percent decrease from 4,923 homes on the market in November 2024. The median price of a home in the city of Chicago in November 2025 was $360,000, a 0.6 percent decrease from November 2024 when the median price was $362,250.
"Chicago's housing market experienced a seasonal slowdown in November," said Lutalo McGee, president of the Chicago Association of REALTORS® and owner and designated managing broker of Ani Real Estate. "This dip in activity was also driven by economic uncertainty and a decline in available homes. Inventory dropped nearly 25 percent, which may be making it harder for buyers to move forward, even though demand is still present."
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 Dec. 7, 2025, for the period November 1 through November 30, 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 6.24 percent in November 2025, down from 6.25 percent from the month before and down from the November 2024 average of 6.81 percent.
Find Illinois housing stats, data and the 2026 Annual Forecast from the Institute for Housing Studies at DePaul University at www.illinoisrealtors.org/marketstats/.
