What is the median home price in Chicago?

The typical home in the Chicago area is listed for $389,000 as of May 2026. This price is up almost 4% from last month and just over 2% from last year. This means homes are holding their value and even increasing a little. There are not many homes for sale right now. Listings are down almost 11% compared to last year. New homes coming on the market are also down significantly, about 13% less than last year. Today, homes are selling a bit slower than last year. The typical home stays on the market for 33 days, which is a little longer than last year. Fewer sellers are dropping their prices, with only about 11% reducing their asking price, a slight decrease from last year. There are more homes going under contract than there are new listings. For every 100 homes for sale, about 111 are pending sale. This shows strong demand from buyers, even with fewer homes available. If you are looking to buy in Chicago, expect to see prices that are slowly climbing. Be ready to act quickly when you find a home you like, since there are not a lot of options and many buyers are competing for them.