In September 2026, statewide home sales (including single-family homes and condominiums) of 11,104 homes sold was 3.3 percent less than 11,486 sold in September 2025.

The 23,841 homes available for sale statewide in September were 2.7 percent less than the 24,511 homes available in September 2025. The monthly median price of $324,000 in September 2026 was 7.8 percent more than $300,500 in September 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 fall begins, with home sales declining compared to last year,” said Jeff Kolbus, Illinois REALTORS® 2026 past president. “Despite fewer sales, home prices continue to rise, highlighting the ongoing demand for housing and the importance of expanding inventory to provide more options across the state.”

In the nine-county Chicago Metro Area, September 2026 home sales (single-family and condominiums) totaled 7,326 homes sold, down 3.5 percent from September 2025 sales of 7,595 homes. In September 2026, there were 14,837 homes for sale in the Chicago Metro Area, an 8.4 percent decrease from 16,205 homes on the market in September 2025. The median price of a home in the Chicago Metro Area of $385,000 in September 2026 was 6.9 percent greater than $360,000 in September 2025.

“The Institute for Housing Studies’(IHS) three-month forecast projects that closed sales from October through December will be approximately 6 percent lower than during the same period last year, while single-family home prices are expected to end the year about 7 percent higher than a year earlier,” said Geoff Smith, Executive Director, Institute for Housing Studies at DePaul University in Chicago.

“Looking ahead, market conditions remain challenging for prospective Illinois homebuyers, as elevated borrowing costs, subdued consumer confidence, and limited housing inventory continue to create uncertainty and put pressure on affordability.”

The city of Chicago experienced a 7.2 percent year-over-year decrease in sales in September 2026 with 1,681 sales, down from 1,812 in September 2025. In September 2026, there were 3,788 homes for sale in the city of Chicago, a 20.9 percent decrease from 4,789 homes on the market in September 2025. The median price of a home in the city of Chicago in September 2026 was $389,900, an 8.3 percent increase from September 2025 when the median price was $360,000.

“September’s housing market data reflects the continued impact of limited inventory in Chicago, as home prices continue to rise despite seeing fewer closed sales,” said Vicky Silvano, president of the Chicago Association of REALTORS® and Co-Team Lead with Real Broker. “Buyer demand remains high, and the need for more housing options continues. For buyers and sellers considering their next move, working closely with a REALTOR® can help interpret current market conditions, recognize opportunities and make informed decisions.”

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 Oct. 7, 2026, for the period September 1 through September 30, 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 6.86 percent in September 2026, higher than 6.67 percent the month before and up from the September 2025 average of 6.35 percent.

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