The pace of home sales in the city of Chicago in 2025 was essentially flat compared to 2024, while the median sales price rose, Illinois REALTORS® said.
Specifically, sales dipped 0.1% year over year, from 22,109 to 22,093, while the median price climbed 5.6%, from $354,975 to $375,000.
In the broader Chicagoland area, home sales rose 0.6%, from 88,560 to 89,091, and the median sales price climbed 4.6%, from $350,000 in 2024 to $366,000 last year.
Statewide, Illinois home sales rose 4.2%, from 131,194 to 136,650, while the median price rose 3.4%, from $290,000 to $300,000.
Chicago home sales pick up in December
In the month of December, sales in the city of Chicago rose 0.4% year over year, from 1,609 to 1,615. The median sales price in December was $350,000, up 2.9% from $340,000 in December 2024. Inventory of homes for sale plunged 25.5% year over year, however, from 3,983 to 2,969.
Chicagoland home sales were down in December, sliding 0.2% year over year, from 6,650 to 6,637 homes, while the median price climbed 4.4%, from $340,000 to $355,000. Inventory fell 11.3%, from 12,178 to 10,801 homes.
Statewide, home sales rose 2%, from 10,041 sales in December 2024 to 1,237 sales last month. The median sales price was up as well, climbing 6.3% from $282,111 to $299,900. Inventory fell 8.2% from 20,063 to 18,421.
“December reflected a market that remains active, with prices holding firm amid continued supply challenges. Across the year, tight inventory was a defining factor shaping the market,” said Jeff Kolbus, president of Illinois REALTORS® and president and owner of RE/MAX Traders Unlimited in Peoria. “In 2026, we expect improvement to be steady, with affordability and mortgage rates continuing to influence outcomes.”
First-quarter forecast
Looking ahead, DePaul University’s Institute for Housing Studies expects Illinois home sales between January and March to decline 1.8% year over year. Prices during that period are expected to rise 12% year over year.
“While recent declines in mortgage interest rates are widely viewed as positive, continued tight inventories and ongoing affordability challenges are likely to constrain homebuying activity in the near term,” said the institute’s executive director, Geoff Smith.