Northern Illinois Housing Market Update - October 2025

Northern Illinois moved through October with sales activity nearly flat overall, but the market pipeline and available supply were softer than a year earlier. Across detached and attached homes combined, closed sales increased 0.1%, while new listings fell 3.7%, properties going under contract declined 3.5%, active inventory dropped 5.8%, and months supply decreased to 2.0 months. Prices continued to rise despite the tighter selection: the combined median sales price increased 9.5% to $344,990 and the average sales price rose 10.9% to $433,449. Average market time increased to 43 days, sellers received 98.1% of original list price on average, and the housing affordability index declined to 87.

Median Sales Price -- Trailing 12 Months

Pricing and Value

Metric	Detached	Attached
Average Sales Price	$464,545 (+13.8% YoY)	$369,924 (+4.5% YoY)
Housing Affordability Index	87 (-2.2% YoY)	109 (-0.9% YoY)
Median Sales Price	$370,000 (+9% YoY)	$300,000 (+7.1% YoY)

Market Speed and Competition

Metric	Detached	Attached
Average % of Original List Price Received	98% (+0.5 percentage points YoY)	98.3% (0 percentage points YoY)
Average Market Time	44 days (+10% YoY)	42 days (0% YoY)

Homes for Sale -- Trailing 12 Months

Months Supply -- Trailing 12 Months

Supply Snapshot

Metric	Detached	Attached
Homes for Sale	11,766 (-5.3% YoY)	5,855 (-6.8% YoY)
Months Supply	2.1 (-2.6% YoY)	1.9 (-8.9% YoY)

Market Activity

Metric	Detached	Attached
Closed Sales	6,096 (-0.9% YoY)	2,984 (+2.1% YoY)
New Listings	9,204 (-4.9% YoY)	4,789 (-1.2% YoY)
Under Contract	5,574 (-5.7% YoY)	2,806 (+1.2% YoY)

What This Means for Sellers

• Available supply remained limited, with 2.1 months of inventory for detached homes and 1.9 months for attached properties. Active inventory was down 5.3% and 6.8% respectively.
• Prices increased in both segments. The detached median rose 9.0% to $370,000, while the attached median increased 7.1% to $300,000.
• Detached homes averaged 44 days to secure an offer, up 10.0% from a year earlier. Attached market time held at 42 days, so pricing and preparation still need to reflect the property type rather than one broad market headline.
• Sellers received an average of 98.0% of original list price for detached homes and 98.3% for attached properties. Detached contracts declined 5.7%, while attached contracts increased 1.2%, showing that buyer activity was not moving uniformly across the two segments.

What This Means for Buyers

• Buyers faced fewer active listings than a year earlier, and both housing segments remained near two months of supply. That points to continued competition for well-positioned homes even though the market was not equally strong everywhere.
• The affordability index was 87 for detached homes and 109 for attached properties. Attached housing remained more affordable by this measure, although attached inventory fell more sharply and its median price still increased 7.1%.
• Average sale-to-original-list-price ratios were below 100% in both segments. Some properties may allow room for negotiation, but the overall data does not indicate a broad bargain market.
• Attached closed sales rose 2.1% and contracts increased 1.2%, while detached sales and contracts declined. Buyers should compare conditions by property type instead of assuming every part of the market is moving the same way.

Deeper Market Data

October's combined closed-sales total was essentially unchanged from a year earlier, but the month was stronger than the year-to-date pattern, where total closed sales were down 1.2%. The split between property types remained important: year-to-date detached closed sales were down 2.9%, while attached sales were up 2.0%. October followed the same direction, with detached sales down 0.9% and attached sales up 2.1%. The forward-looking measures were weaker for the combined market. October new listings declined 3.7% and contracts fell 3.5%, compared with year-to-date declines of 0.2% and 1.5%. At the same time, October price growth was stronger than the year-to-date pace: the combined median increased 9.5% for the month versus 6.2% year to date, and the combined average price rose 10.9% versus 8.2% year to date. The combination of fewer listings, lower inventory, rising prices, longer market time, and declining affordability suggests a market that remained supply-constrained while becoming more selective.