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Illinois Home Sales Up 7%

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.”

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