How competitive is the Chicago housing market?

Chicago is competitive as of May 2026, with a Sold Score of 88/100 (Excellent Chance of Selling). **Pending ratio** is 1.11 (contracts vs. active inventory) — anything above 0.40 is healthy demand, below 0.20 is slow. **Inventory change YoY** is -10.7% — fewer choices for buyers than a year ago. **Median days on market** is 33. Faster than 30 days means buyers are deciding quickly. **Price-reduction share** is 31.5% of active listings — above 25% signals sellers are widely overshooting list price. — Live indicators (May 2026): Sold Score: 88/100 (Excellent Chance of Selling) · Pending ratio: 1.11 · Inventory YoY: -10.7% · Median days on market: 33 · Sellers cutting price: 31.5% · Median listing price: $394,500 (+3.8% YoY)