Essential factors
- Prepare dinner County reached a milestone in June. It was the primary time since mid-2022 that properties offered for greater than asking costs, whereas nationwide house costs remained close to historic lows.
- Median gross sales worth reached $398,875, up 6% year-over-year and thrice the nationwide worth enhance.
- Pending gross sales elevated 9% year-over-year, indicating elevated purchaser exercise heading into the summer season.
A Snapshot of the Prepare dinner County, Illinois Housing Market
| Median promoting worth | pending sale | lively listing | Days on market | offered on listing |
|---|---|---|---|---|
| $398,875 (+6.4% YoY) | 6,486 individuals (+8.7% in comparison with earlier yr) | 21,303 individuals (-1.0% in comparison with the earlier yr) | 47 days (-1 day in comparison with earlier yr) | 51.3% (+4.4 ppt YoY) |
Prepare dinner County’s housing market shifted into upward gear in June. Costs have been effectively forward of the nationwide tempo, bidding wars reached majority territory and pending gross sales marked the biggest annual enhance since early 2025. Obtainable stock is down from a yr in the past, although extra sellers are itemizing gadgets. The massive image is that the market has been extra worthwhile for sellers than another month because the pandemic-era rally.
As summer season involves an finish, be taught what it is advisable know concerning the Prepare dinner County, Illinois housing market and what patrons and sellers can do to achieve success.
A snapshot of the US housing market
| Median promoting worth | pending sale | lively listing | Days on market | steadiness between patrons and sellers |
|---|---|---|---|---|
| $408,776 (+2.2% YoY) | 349,254 (+4.5% YoY) | 1,496,490 (+0.8% YoY) | 49 days (+1 day in comparison with earlier yr) | The variety of sellers outnumbers patrons by 48.5% |
Nationally, house costs rose 2% and pending gross sales elevated by about 5%. Shares hardly moved. That nationwide state of affairs hardly applies right here. Costs in Prepare dinner County rose thrice as quick as different components of the nation noticed modest will increase, whereas provide contracted and greater than half of properties offered for above asking worth. That is greater than double the nationwide worth.
“June marked a crossroads within the continued restoration of the housing market,” he stated. Chen Zhao, Head of Financial Analysis at Redfin. “Costs rose sooner than in current months, with financial uncertainty associated to the Iran battle and rising mortgage charges spooking some house patrons and sellers.On the brilliant aspect, house gross sales are trending upwards and wages have risen sooner than costs, serving to There are areas of competitors within the Midwest, Northeast, and Gulf Coast areas, however typically, customers are nonetheless weathering a troublesome interval. Nonetheless, economists count on the market to enhance regularly over the following few years.”
Prepare dinner County costs are rising thrice sooner than the nation.
Whereas the nationwide worth enhance was simply 2%, Prepare dinner County’s median worth rose almost 7%, the biggest distinction in a yr. The median gross sales worth in June reached $398,875, a rise of almost 7% from a yr in the past. Prepare dinner County is up about 46% because the starting of 2020, accelerating once more after slowing earlier this yr. Median worth per sq. foot elevated roughly 6% year-over-year to $263, confirming that these will increase mirror true worth reasonably than compositional adjustments to bigger properties.
Value reductions have been uncommon. Solely about 11% of lively public corporations lowered their asking costs, down from 12% a yr in the past and effectively beneath the nationwide common. The standard house offered for almost 2% above listing worth, a rise of 1 share level over final yr. Sellers set formidable costs, and patrons persistently matched or exceeded these costs.
Pending gross sales spike as purchaser exercise will increase
Pending gross sales in Prepare dinner County reached 6,486 models in June, a rise of almost 9% from a yr in the past and almost double the nationwide development charge of 4.5%. This was the strongest year-on-year enhance regionally since January 2025 and marked a pointy reversal from the flat-to-downward pattern that characterised a lot of 2025. The variety of properties offered additionally elevated by about 4%, and the variety of new listings elevated by about 6%. This means that extra sellers entered the market, however patrons absorbed the availability even sooner.
As a result of this surge in exercise, inventories stay tight. The variety of lively listings decreased by roughly 1% from the earlier yr to 21,303, and the variety of months of provide was 2.5 months, considerably decrease than the nationwide common of three.7 months. The variety of days out there for stock decreased from 45 days a yr in the past to 41 days. Which means the market share of retained stock is shrinking. Patrons hoping for a summer season slowdown discovered the alternative. Demand is accelerating, whereas fewer choices can be found.
Variety of new listings surges as extra sellers enter the market
The variety of new listings in Prepare dinner County reached 6,705 in June, a rise of about 6% from the earlier yr, which is about 30 instances sooner than the nationwide charge (which was about the identical). Extra sellers returned to the market, with June’s month-to-month whole reaching its highest degree since 2024. The inflow of sellers coincided with rising costs and elevated competitors. Though extra housing turned out there, demand outstripped extra provide. In distinction, the variety of new listings nationwide remained largely unchanged, remaining at simply over 395,000 after two years of stagnation.
Elevated provide didn’t ease strain on patrons. In truth, regardless of the surge in listings, out there stock is down about 1% yr over yr, which means properties are being absorbed virtually as shortly as they’re showing. For sellers contemplating whether or not to go public, the info despatched a transparent sign. Which means there may be nonetheless a very good likelihood that new provide will enter the market, be consumed shortly, and appeal to aggressive gives.
The higher class is main the worth enhance. Backside stalls once more
| worth vary | Median worth (YoY) | Bought (YoY) | DOM (YoY) | Share above listing (YoY) |
|---|---|---|---|---|
| Luxurious items (prime 5%) | $1,538,890 (+4.3%) | 991 (+5.2%) | 44 days (-5 days) | 44.7% (+9.1 ppt) |
| Excessive (65-95%) | $622,337 (+6.0%) | 4,570 (+1.6%) | 41 days (-3 days) | 55.3% (+4.8 ppt) |
| Non-luxury items (35-65%) | $366,688 (+4.6%) | 3,721 (-0.8%) | 48 days (0 days) | 49.9% (+1.5 ppt) |
| Starter (5-35%) | $230,351 (+4.0%) | 4,034 (-1.0%) | 56 days (0 days) | 37.3% (-0.8 ppt) |
| Backside (backside 5%) | $104,193 (+0.1%) | 722 (-9.8%) | 69 days (+8 days) | 22.9% (-0.9 ppt) |
Redfin Evaluation of MLS Information • Rolling 3-month interval (March-Might 2026)
The highest tier grew the quickest, at 6% year-over-year, with greater than half of the properties in that tier promoting for above listing worth. For luxurious properties (median worth $1.54 million), above-listing exercise accelerated dramatically, rising 9 share factors to just about 45%. Moreover, gross sales quantity elevated by roughly 5%, making it the one demographic with a big enhance. Each high-end and high-end merchandise offered sooner, with days on market lowering by three to 5 days in comparison with a yr in the past.
On the backside, costs have been virtually flat and gross sales have been down almost 10%. Houses on this class sat for 69 days, 28 days greater than the highest tier, and fewer than 1 / 4 offered for greater than asking worth. Starter properties fell within the center, with costs up about 4%, however gross sales volumes down and itemizing exercise down barely. The cut up between tiers confirmed a market the place competitors was concentrated within the prime half, whereas patrons at cheaper price factors had extra room for negotiation.
How patrons and sellers can navigate the Prepare dinner County market
When shopping for in Prepare dinner County, plan for competitors each step of the best way. Greater than 51% of properties offered for greater than asking worth in June, and the numbers have been even greater within the higher tiers. Safe your funds earlier than you begin your tour, set agency limits, and be ready to maneuver shortly. The median-priced house went underneath contract in 47 days, and the fastest-moving properties have been gone inside two weeks. Even when the competitors for upper-tier housing is out of attain, the starter and decrease segments nonetheless provide extra bargaining energy.
If you wish to promote, the circumstances are very favorable. The typical house offered for almost 2% above itemizing, and fewer than 11% of listings required a worth discount. In the event you set your costs precisely from day one, you are extra prone to get gives instantly. Nevertheless, with widespread energy, the quantity of listed bulletproof backside tiers will drop sharply, and do not assume that the top-priced properties in any tier are liable to sitting idle whereas appropriately priced rivals transfer on.
Prepare dinner County, Illinois Market Information by Metropolis
Rolling three-month interval (April to June 2026). Shows cities with 50 or extra gross sales.
| metropolis | Median gross sales worth (YoY) | offered | New listing. | lively | dom | % On prime of that | provide |
|---|---|---|---|---|---|---|---|
| chicago | $429,766 (+7.4% YoY) | 7,846 | 9,591 | 15,923 | 46 | 50.4% | 2.8 |
| arlington heights | $499,728 (-2.0% YoY) | 303 | 378 | 539 | 41 | 55.9% | 2.1 |
| evanston | $454,753 (-12.5% YoY) | 296 | 316 | 485 | 40 | 50.3% | 1.9 |
| schaumburg | $339,815 (+1.7% YoY) | 273 | 372 | 525 | 44 | 52.2% | 2.6 |
| tinley park | $337,816 (+6.2% YoY) | 271 | 312 | 472 | 42 | 46.9% | 2.0 |
| palatine | $399,782 (+6.3% YoY) | 262 | 349 | 493 | 41 | 55.6% | 2.5 |
| orlando park | $396,784 (+7.2% YoY) | 239 | 323 | 474 | 44 | 44.3% | 2.8 |
| oak park | $574,687 (+15.1% YoY) | 231 | 263 | 382 | 41 | 60.7% | 2.0 |
| des plaines | $374,796 (+11.9% YoY) | 191 | 242 | 367 | 47 | 47.2% | 2.5 |
| oak garden | $309,831 (+3.3% YoY) | 190 | 267 | 440 | 54 | 42.0% | 3.4 |
| skokie | $464,747 (+4.4% YoY) | 179 | 241 | 358 | 42 | 46.4% | 2.7 |
| glenview | $827,550 (+19.1% YoY) | 165 | 204 | 296 | 36 | 59.1% | 2.2 |
| mount prospect | $449,755 (+1.1% YoY) | 161 | 201 | 308 | 46 | 54.9% | 2.4 |
| Hoffman Estates | $414,774 (+3.4% YoY) | 160 | 237 | 325 | 44 | 57.2% | 3.1 |
| stream wooden | $330,320 (-1.2% YoY) | 154 | 158 | 234 | 45 | 58.1% | 1.6 |
| park ridge | $687,126 (+22.7% YoY) | 152 | 187 | 282 | 44 | 47.4% | 2.1 |
| northbrook | $767,083 (+8.0% YoY) | 152 | 192 | 288 | 42 | 54.2% | 2.4 |
| Wilmette | $1,219,336 (-2.5% YoY) | 140 | 148 | 214 | 32 | 65.8% | 1.4 |
| Elk Grove Village | $380,293 (-4.9% YoY) | 133 | 142 | 204 | 45 | 53.2% | 1.6 |
| wheeling | $299,837 (-8.6% YoY) | 112 | 133 | 205 | 52 | 42.3% | 2.3 |
| Berwyn | $374,796 (+4.1% YoY) | 107 | 143 | 252 | 56 | 44.3% | 3.6 |
| lansing | $202,190 (-3.7% YoY) | 98 | 139 | 258 | 66 | 44.9% | 4.8 |
| morton grove | $489,234 (+11.7% YoY) | 96 | 130 | 191 | 42 | 49.0% | 2.8 |
| oak forest | $319,826 (+6.4% YoY) | 96 | 107 | 177 | 47 | 50.1% | 2.5 |
| Elmwood Park | $418,772 (+17.1% YoY) | 91 | 93 | 176 | 51 | 41.7% | 2.3 |
| Homewood | $259,859 (+7.2% YoY) | 89 | 101 | 214 | 64 | 31.1% | 3.1 |
| Calumet Metropolis | $149,918 (-14.3% YoY) | 88 | 126 | 298 | 106 | 43.1% | 6.2 |
| niles | $439,761 (+19.8% YoY) | 88 | 97 | 158 | 46 | 42.0% | 2.2 |
| Western Springs | $989,462 (+16.0% YoY) | 87 | 81 | 117 | 35 | 57.8% | 1.2 |
| south holland | $219,880 (-3.6% YoY) | 87 | 95 | 214 | 83 | 40.1% | 4.2 |
| rolling meadows | $369,799 (+19.3% YoY) | 82 | 113 | 159 | 44 | 51.4% | 2.6 |
| park forest | $156,915 (-1.0% YoY) | 80 | 135 | 249 | 76 | 38.5% | 6.0 |
| Paros Hills | $315,828 (+20.5% YoY) | 77 | 97 | 157 | 52 | 34.7% | 2.8 |
| westchester | $390,787 (+1.6% YoY) | 77 | 88 | 132 | 40 | 61.5% | 2.0 |
| burbank | $324,823 (+4.8% YoY) | 75 | 86 | 146 | 55 | 48.0% | 2.8 |
| winnetka | $1,888,980 (+4.2% YoY) | 73 | 59 | 92 | 32 | 59.3% | 1.1 |
| Cicero | $333,818 (+6.0% YoY) | 69 | 106 | 188 | 62 | 41.9% | 5.2 |
| forest park | $382,292 (+17.3% YoY) | 68 | 88 | 126 | 43 | 47.1% | 2.3 |
| nation membership hills | $243,368 (+16.6% YoY) | 66 | 92 | 192 | 61 | 37.6% | 5.0 |
| dalton | $149,918 (-13.1% YoY) | 61 | 90 | 218 | 89 | 41.8% | 6.5 |
| La Grange | $574,687 (-10.7% YoY) | 61 | 84 | 125 | 40 | 56.8% | 2.7 |
| brookfield | $394,285 (+2.4% YoY) | 61 | 80 | 108 | 43 | 55.1% | 2.3 |
| prospect heights | $332,819 (+47.9% YoY) | 60 | 81 | one two three | 53 | 39.1% | 2.6 |
| chicago heights | $189,897 (-0.3% YoY) | 59 | 100 | 190 | 73 | 39.7% | 5.1 |
| Palos Heights | $365,801 (+3.0% YoY) | 59 | 74 | 112 | 50 | 36.3% | 2.7 |
| river forest | $719,608 (+2.7% YoY) | 58 | 64 | 94 | 40 | 45.7% | 1.8 |
| mattheson | $249,864 (-2.0% YoY) | 56 | 65 | 140 | 76 | 31.0% | 4.2 |
| evergreen park | $338,316 (+11.5% YoY) | 55 | 70 | 117 | 53 | 59.4% | 2.9 |
| Barrington | $670,635 (+5.6% YoY) | 54 | 80 | 122 | 44 | 35.9% | 3.4 |
| hazel crest | $192,895 (+8.7% YoY) | 53 | 63 | 158 | 84 | 32.8% | 4.8 |
| crest wooden | $207,137 (+15.7% YoY) | 53 | 61 | 90 | 44 | 36.6% | 2.2 |
| Lemont | $509,723 (-3.9% YoY) | 50 | 69 | 112 | 50 | 32.7% | 2.7 |
This text was created in complete or partially utilizing generative synthetic intelligence (AI) know-how with enter from Chen Zhao, Head of Financial Analysis at Redfin. Whereas efforts have been made to make sure the accuracy and reliability of this info, you need to independently confirm all information, info, and quotes contained on this article earlier than counting on the knowledge for any function. This info isn’t meant to substitute for recommendation from an actual property agent, monetary advisor, or different certified skilled. County-level information should not seasonally adjusted. For extra detailed housing market information, try the Redfin Information Heart.
