Despite Chicagoland’s ongoing inventory crunch, sales in the suburbs were resilient in February, according to Mainstreet REALTORS®.

Detached home sales were up slightly year over year, rising 0.6% overall, with 1,556 homes sold.

Certain areas, however, experienced much greater increases. In order: Downers Grove (87.5%); Schaumburg (63.6%); St. Charles (60.0%); Aurora (58.1%); Arlington Heights (54.2%); Mundelein (53.9%); Glen Ellyn (53.3%); Tinley Park (52.9%); Lansing (40.0%); and Oswego (20.0%).

Meanwhile, attached home sales in the suburbs grew by 1.57% during February, with 841 units sold.
Prices for both home types climbed as well. The median sales price for detached homes reached $371,250, a 7.6% year-over-year increase, while the attached median sales price rose 4% to $260,000.

Time on the market varied greatly by property type. The average time for detached homes remained basically steady at 58 days, just a two-day increase from last year. Attached homes, though, experienced significant growth, rising from 37 days to 53 days in February. That’s a 43.3% increase.

The difference likely indicates current buyer preferences toward single-family homes, the association said in a press release.

Mainstreet President Connie Vavra also shared a statement, reflecting on the data. “The spring market is definitely upon us,” Vavra said. “There are a lot of buyers coming out, asking questions, and getting their financing prepared. I think there will be a lot of activity in the residential housing market in late spring, early summer.”