WRE NEWS February 27, 2025
Seller
A total of 7,471 homes were sold in Illinois during January, a 7% year-over-year increase, according to data from Illinois Realtors.
The state’s housing inventory was up by 1.5% from one year earlier, with 16,919 homes available for sale. January’s median price of $285,000 was up by 10.9% from the previous year.
Within the Chicago metro area, sales were up 8.4% from January 2024 with 4,991 homes sold, while inventory inched up over the same period by 1%, with 10,939 homes for sale. The median price rose 7.9% year-over-year to $340,000.
“Illinois’ housing market continues to demonstrate resilience and growth despite broader economic uncertainties,” said Illinois Realtors President Tommy Choi said of the recent numbers. “The city of Chicago experienced an even stronger surge, with closed sales up 17.8 percent, reflecting renewed buyer confidence and sustained demand. These trends signal a competitive market where well-positioned sellers can capitalize on rising values, while buyers must navigate limited inventory and slightly longer days on the market.”
Stay up to date on the latest real estate trends.
Buyer
August 29, 2025
You may have seen talk online that new home inventory is at its highest level since the crash.
Buyer
August 29, 2025
It’s not unusual for designers to use their own homes as a mad laboratory, fiddling with new materials, half-baked ideas, and “could this work?
Lifestyle
August 28, 2025
It just happens that one of the most accessible and budget-friendly forms of exercise is also the most beneficial for your health: walking.
Seller
August 28, 2025
Now that the market is slowing down, homeowners who haven’t sold at the price they were hoping for are increasingly pulling their homes off the market.
Buyer
August 26, 2025
Sales of new single-family houses in July were at a seasonally adjusted annual rate of 652,000, according to estimates released jointly today by the US Census Bureau a… Read more
Buyer
August 26, 2025
If you’re still worried about having to deal with a bidding war when you buy a home, you may be able to let some of that fear go.
We Guide Homeowners through the complicated process of selling their home using our 4 Phase Selling Process and 3 Prong Marketing Strategy that alleviates their stress and moves them effortlessly to their next destination. Schedule a 15 Minute Complimentary Strategy Session Today