The trends we’ve been noticing across Chicago’s suburban housing market were reinforced by new data from the Mainstreet Organization of REALTORS®. In February, detached home sales and median sales prices were down while time on the market was up.

A total of 1,607 detached homes were sold across Chicago’s suburbs in February, a 26.7% drop year over year, and the median sale price declined 3.2% to from $315,000 to $305,000.

The number of attached homes sold also declined 32.1% from 1,120 in February 2022 to 760 in the same month this year, though the median sale price increased 12.8% to $220,000.

The following suburbs saw some of the largest year-over-year declines in sales: Hinsdale (down 30.8%), Crete (27.7%), Western Springs (26.1%), Addison (25.6%); Homewood (20%), Orland Park (19%), LaGrange (17.9%), Arlington Heights (14.7%), Markham (14.7%) and Park Forest (14.3%).

Mainstreet President Debbie Pawlowicz offered a positive take on the data. “The market is still really hot, and consumer confidence remains high,” Pawlowicz said. “For well positioned homes, we’re still seeing multiple-offer situations.”