Northern Illinois Housing Market Update - November 2025
Northern Illinois activity cooled in November, with fewer new listings, fewer homes going under contract, and fewer closed sales than last year. Even with lower sales volume, prices held firm year over year and market time remained in the mid-40 day range.
Market Snapshot
- Detached median price: $360,000 (+7.5% YoY)
- Attached median price: $300,000 (+5.3% YoY)
- Closed sales fell year over year for both detached (-13.1%) and attached (-9.8%)
- New listings declined for both detached (-10.0%) and attached (-8.8%)
- Market time: 45 days (detached) and 44 days (attached)
- Months supply stayed low at 1.9 (detached) and 1.7 (attached)
Pricing and Value
Prices increased year over year for both detached and attached homes, despite slower sales volume.
| Metric | Value |
|---|---|
| Detached Median Sales Price | $360,000 |
| Detached Median Sales Price YoY | +7.5% |
| Attached Median Sales Price | $300,000 |
| Attached Median Sales Price YoY | +5.3% |
Market Speed and Competition
Homes continued to sell in the mid-40 day range, with detached homes taking slightly longer than last year.
| Metric | Value |
|---|---|
| Detached Days on Market (Market Time) | 45 days (+4.7% YoY) |
| Attached Days on Market (Market Time) | 44 days (-2.2% YoY) |
| Detached % of Original List Price Received | 97.4% |
| Attached % of Original List Price Received | 97.8% |
Supply Snapshot
Inventory and months supply remained low, with both inventory counts down year over year.
| Metric | Value |
|---|---|
| Detached Inventory of Homes for Sale | 10,595 (-7.0% YoY) |
| Detached Months Supply | 1.9 (-3.7% YoY) |
| Attached Inventory of Homes for Sale | 5,073 (-10.0% YoY) |
| Attached Months Supply | 1.7 (-11.1% YoY) |
Market Activity
Both new listings and closed sales declined year over year, and the number of homes going under contract also fell.
| Metric | Value |
|---|---|
| Detached New Listings | 5,971 (-10.0% YoY) |
| Detached Listings Under Contract | 4,503 (-5.1% YoY) |
| Detached Closed Sales | 4,749 (-13.1% YoY) |
| Attached New Listings | 2,974 (-8.8% YoY) |
| Attached Listings Under Contract | 2,354 (-1.4% YoY) |
| Attached Closed Sales | 2,331 (-9.8% YoY) |
What This Means for Sellers
- Pricing remains supportive year over year, but buyers are moving more selectively.
- List preparation and accurate pricing matter as market time stays around six weeks.
- Expect fewer showings than peak seasons and plan for negotiation room.
- Monitor competing inventory closely, especially in your immediate submarket.
What This Means for Buyers
- Lower listing and sales activity can limit options, so expand search criteria if needed.
- Days on market in the mid-40s suggests time to evaluate, but well-priced homes still move.
- Use recent comparable sales, not peak-year benchmarks, when making offers.
- Stay organized on financing and timing, since supply remains tight.
Deeper Market Data
Affordability conditions were slightly lower year over year for detached homes (index 87) and essentially flat for attached homes (index 110). Across both segments, closed sales and new listings trended lower than last year, while prices rose year over year.
Ray’s Notes
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