Northern Illinois Housing Market Update - September 2025
Housing activity across Northern Illinois in September reflected a market still constrained by limited supply, even as buyer activity moderated. Prices continued to rise year over year while homes spent slightly longer on the market.
Market Snapshot
- Detached and attached home prices rose year over year
- Inventory levels remain historically low
- Market times increased compared to last September
- Closed sales were mixed by property type
- Supply conditions continue to favor sellers
Pricing and Value
Home values continued to increase in September, reflecting persistent supply constraints.
| Metric | Value |
|---|---|
| Detached Median Price | $361,990 (+4.9% YoY) |
| Attached Median Price | $296,555 (+4.1% YoY) |
Market Speed and Competition
Homes took longer to sell compared to last year, indicating slightly reduced urgency among buyers.
| Metric | Value |
|---|---|
| Detached Days on Market | 41 days |
| Attached Days on Market | 41 days |
Supply Snapshot
Months of supply remained well below balanced market levels.
| Metric | Value |
|---|---|
| Detached Months Supply | 2.0 months |
| Attached Months Supply | 1.9 months |
Market Activity
New listings were mixed while closed sales showed modest variation by property type.
| Metric | Value |
|---|---|
| Detached New Listings | 9,294 |
| Detached Closed Sales | 5,833 |
| Attached New Listings | 5,125 |
| Attached Closed Sales | 3,048 |
What This Means for Sellers
- Limited inventory continues to support pricing
- Homes are taking longer to sell than last year
- Accurate pricing remains critical
What This Means for Buyers
- More time to evaluate options compared to prior years
- Competition remains strong in many segments
- Supply constraints limit selection
Deeper Market Data
Detailed trends show continued structural undersupply despite seasonal moderation in demand.
Ray’s Notes
[Placeholder for commentary]
Midwest Real Estate Data LLC (MRED), InfoSparks. Data includes closed sales, median prices, market time, inventory, and supply metrics for Northern Illinois. Snapshot month: September 2025.