Northern Illinois Housing Market Update - June 2026

Northern Illinois entered June 2026 with stronger closing activity and higher prices, even as the number of homes available for sale remained below last year. Across detached and attached properties combined, closed sales increased 2.7% to 12,256 and the median sales price rose 7.1% to $375,000, while inventory fell 10.6% to 17,213 homes and months supply declined to 1.9. Detached and attached homes followed different paths: detached new listings and contracts slipped 2.0% and 0.8%, while attached new listings, contracts, and closed sales all increased. Buyers paid an average of 99.9% of original list price for detached homes and 100.4% for attached properties, showing that broadly priced listings still faced limited room for negotiation.

Median Sales Price -- Trailing 12 Months

Pricing and Value

Metric	Detached	Attached
Average Sales Price	$511,707 (+7.2% YoY)	$410,194 (+4.6% YoY)
Housing Affordability Index	80 (-5.9% YoY)	102 (-1.9% YoY)
Median Sales Price	$400,000 (+6.7% YoY)	$325,078 (+4.1% YoY)

Market Speed and Competition

Metric	Detached	Attached
Average % of Original List Price Received	99.9% (+0.5 percentage points YoY)	100.4% (+0.4 percentage points YoY)
Average Market Time	37 days (+2.8% YoY)	35 days (0% YoY)

Homes for Sale -- Trailing 12 Months

Months Supply -- Trailing 12 Months

Supply Snapshot

Metric	Detached	Attached
Homes for Sale	11,863 (-11.6% YoY)	5,350 (-8.3% YoY)
Months Supply	1.9 (-9.3% YoY)	1.8 (-8.9% YoY)

Market Activity

Metric	Detached	Attached
Closed Sales	8,230 (+1.8% YoY)	4,026 (+4.5% YoY)
New Listings	11,149 (-2% YoY)	5,456 (+1.4% YoY)
Under Contract	7,555 (-0.8% YoY)	3,689 (+1.8% YoY)

What This Means for Sellers

• Available inventory remained tight, falling 11.6% for detached homes and 8.3% for attached properties, with only 1.9 and 1.8 months of supply.
• Detached sellers received 99.9% of original list price on average, while attached sellers received 100.4%; accurate pricing and strong condition still matter because these are market-wide averages, not guarantees for every home.
• Attached properties showed stronger June momentum, with closed sales up 4.5% and contracts up 1.8%, compared with a 1.8% sales increase and a 0.8% contract decline for detached homes.
• Average market time was 37 days for detached homes and 35 days for attached properties, so the market remained active without every listing selling immediately.

What This Means for Buyers

• Selection remained limited: detached inventory was down 11.6% year over year and attached inventory was down 8.3%, leaving less than two months of supply in both segments.
• Prices continued to rise, with the detached median reaching $400,000 and the attached median reaching $325,078; the affordability index declined to 80 for detached homes and 102 for attached properties.
• Attached buyers faced the firmer list-price environment, with properties averaging 100.4% of original asking price versus 99.9% for detached homes.
• Market times of 35 to 37 days indicate that buyers may have time to evaluate some listings, but well-positioned homes can still require timely decisions.

Deeper Market Data

June was stronger than the first-half totals suggest. Detached closed sales increased 1.8% for the month but were down 2.8% year to date, while attached closed sales rose 4.5% in June and were nearly flat year to date at -0.1%. The combined market posted a 2.7% June increase in closed sales even though year-to-date sales remained 1.9% below 2025. Contract activity also split by property type: detached contracts were down 0.8% both for June and year to date, while attached contracts were up 1.8% in both periods. At the same time, year-to-date median prices increased 6.4% for detached homes and 4.9% for attached properties. The combination of rising prices, lower inventory, and weaker affordability points to a market where June demand improved, but the supply available to meet that demand remained constrained.