Northern Illinois Housing Market Update - October 2025
October closed the fall season with higher home prices and slower buyer activity across Northern Illinois. Inventory conditions remained relatively tight, though market pace continues to normalize compared to recent years.
Market Snapshot
- Detached home prices rose sharply year over year
- Attached homes continued to see steady buyer demand
- New listings declined from last October
- Homes are spending more time on the market
- Inventory levels remain below long-term norms
Pricing and Value
Home prices continued to increase, supported by limited supply and stable demand.
| Metric | Value |
|---|---|
| Detached Median Price | $370,000 (+9.0% YoY) |
| Attached Median Price | $300,000 (+7.1% YoY) |
Market Speed and Competition
Homes are taking longer to sell compared to last year, reflecting a more balanced market.
| Metric | Value |
|---|---|
| Detached Days on Market | 44 days |
| Attached Days on Market | 42 days |
Supply Snapshot
Inventory remains constrained despite modest seasonal improvements.
| Metric | Value |
|---|---|
| Detached Months Supply | 2.1 months |
| Attached Months Supply | 1.9 months |
Market Activity
Sales activity softened, particularly for detached homes.
| Metric | Value |
|---|---|
| Detached New Listings | 9,204 |
| Detached Closed Sales | 6,096 |
| Attached New Listings | 4,789 |
| Attached Closed Sales | 2,984 |
What This Means for Sellers
- Pricing remains strong for well-prepared homes
- Expect longer marketing times than last year
- Strategic pricing is increasingly important
What This Means for Buyers
- More time to evaluate options compared to 2024
- Opportunities remain limited in high-demand areas
- Preparation and flexibility remain key
Deeper Market Data
Attached home demand continues to provide stability, while detached inventory constraints support pricing across most submarkets.
Ray’s Notes
[Placeholder for commentary]
Midwest Real Estate Data LLC (MRED) via InfoSparks. Residential detached and attached sales, pricing, inventory, and market time data for Northern Illinois. Snapshot: October 2025.