Chicago Housing Market

Chicago home prices jumped 6.5% in July, the fastest annual increase among the nation’s 40 largest housing markets. Buyers had slightly more homes to choose from than a year ago, but sales slipped and inventory remained far below pre-pandemic levels.

Chicago home sales fell 0.7% from a year ago in July to 9,903, as the busy early-year and spring homebuying season came to an end. That was 67 fewer sales than in July 2025, when 9,970 homes changed hands.

Single-family sales fell 1.9% to 6,295, while townhome sales rose 2.1% to 1,124. Condo sales also increased 1.3% to 2,484.

Homes spent a median of 47 days on the market, unchanged from a year ago. That was nine days faster than the national median of 56 days, showing homes in Chicago continued to move relatively quickly even as sales softened.

Chicago homes for sale rose 2.3% year over year to 23,706 in July, adding 543 homes from a year earlier. Inventory grew more slowly than the national increase of 4.4%.

Even with more choices, Chicago had far fewer homes than before the pandemic. Inventory was 56.2% below July 2019 levels, when 54,070 homes were for sale.

Months of supply edged up to 2.9 from 2.8 a year earlier, but remained well below the national rate of 4.7 months. Low inventory, limited months of supply and relatively quick selling times suggested Chicago remained firmly tilted toward sellers despite modest inventory gains.

Single-family inventory rose 1.4% to 15,308, while townhome inventory climbed 7.2% to 2,450 and condo inventory increased 2.9% to 5,948.

View the latest homes for sale in Chicago.

The median Chicago home sale price reached $393,000 in July, up 6.5% from a year earlier. That was the fastest annual price increase among the top 40 U.S. markets and more than twice the national gain of 2.6%.

Chicago’s median price rose $24,000 over the past year, compared with a $10,000 increase nationally. Even so, the median remained slightly below the national median of $400,000.

Chicago’s median price was also just below its $400,000 peak reached in June 2026. Single-family prices rose $25,000 to $430,000, while townhome prices increased 6.2% and condo prices rose 8.7%.

The median home sale price in Chicago increased by 6.5% compared to the same time last year, while the national median price rose by 2.6%.

Chicago median home prices rose by $24,000 year over year on a nominal basis in July to $393,000. Meanwhile, the national median home price increased by $10,000 to $400,000.

Chicago was the 28th highest-priced housing market among the top 40 largest markets last month. The Chicago median home price of $393,000 was 1.8% below the national median home price. Chicago's median home price in July compares to the market's peak of $400,000 recorded in June of 2026.

The median price of Chicago single-family homes rose by $25,000 over the past year to $430,000, while the median townhome price grew by 6.2%, and the median condo price rose by 8.7%.

The number of homes for sale in Chicago increased by 2.3% in July compared to the same time last year, while national homes for sale rose by 4.4%.

Chicago homes for sale rose by 543 year over year in July to 23,706 homes for sale. Chicago ranked 24th, on a percentage basis, for the annual change in the number of homes for sale among the top 40 U.S. markets in July.

Chicago homes for sale were below their pre-pandemic levels in the month of July. Chicago homes for sale were 56.2% below the July 2019 total of 54,070.

Chicago single-family homes for sale grew by 1.4% to 15,308 in July. In comparison, townhomes for sale rose by 7.2% to 2,450, and condos for sale increased by 2.9% to 5,948.

The number of home sales in Chicago decreased by 0.7% in July compared to the same time last year, while national home sales rose by 2.9%.

Chicago home sales declined by 67 year over year on a nominal basis in July to 9,903. For context, 9,970 sales closed in Chicago in July 2025.

Chicago ranked 31st for the annual change in home sales out of the top 40 U.S. markets in July on a percentage basis. This year's July decrease of 0.7% compares to the 1.2% year over year increase in July 2025.

Chicago single-family sales decreased by 1.9% in July to 6,295. In comparison, townhome sales rose by 2.1% to 1,124, and condo sales rose by 1.3% to 2,484.

For questions and commentary about this report:

Adrian Brizuela, Associate Director of Market Analytics at CoStar and Homes.com, based in Chicago, is available for interviews to provide expert insights on this data and the broader residential real estate market.

Adrian Brizuela

Associate Director of Market Analytics

Homes.com

abrizuela@costar.com

Homes.com releases preliminary figures on housing trends on a monthly basis. Although these numbers may change slightly once all transactions are accounted for, they provide an early indication of home price appreciation, inventory changes, and sales volume in Chicago during July 2026.

For most markets, geographical coverage consists of the Census-defined Core-Based Statistical Area (CBSA). Data for San Francisco, Los Angeles, Miami, and New York is at the Metropolitan Division level.

Definition of Sale Prices

Median home price is the midpoint sale price of homes closed during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Inventory

Inventory is the number of unique active listings that were for sale during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Home Sales

The total number of closed home sales on the MLS during the month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Days on Market

The median number of days from initial listing to closing of properties whose closing occurred during the month. This data includes detached, attached, and condominium homes. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Months of Supply (MOS)

Months of Supply (MOS) is equal to active listings divided by homes sold in a given month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Sale to List Price Ratio

The sale-to-list price ratio is the ratio of the sale (closing) price to the original list price, whose closing occurred during the month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

About the Homes.com Market Analytics Team

The Homes.com Market Analytics group is a team of experienced analysts embedded in nearly 30 markets across North America. These experts reside in and regularly visit the markets they cover, providing local expertise and a national perspective on all sectors of real estate: residential, office, industrial, retail, and multifamily.

About Homes.com Analytics Data

The Homes.com analytic data is compiled by the CoStar Analytics team, the largest and most experienced analytics team in the real estate industry. The team consists of over 50 economists, analysts, and data scientists, who collectively have more than 900 years of real estate experience and over 30 advanced degrees. Analysts on the team live in and around the markets they cover, enabling them to build deep local knowledge and unique insights.

The data set being used by the team is one of the most comprehensive and robust in the industry. It spans all 393 metropolitan markets, 542 micropolitan markets, and over 35,000 local neighborhoods in the U.S. The data set is sourced from almost 500 Multiple Listing Service (MLS) providers around the country, as well as public record data from each market, and is supplemented by proprietary data collected by CoStar's team of over 2,000 researchers. It includes a complete inventory of all homes in the U.S., including homes for sale, homes for rent, new construction homes, as well as sale comps and rent comps.