Is It a Buyer’s Market or a Seller’s Market in Illinois?
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The Illinois housing market at the end of 2025 sits in a transition phase-not fully a seller’s market anymore, but not a buyer’s market either. It shows signs of both, depending on location and price point.
Where the Market Stands
Home prices remain strong statewide. Illinois saw a 6.8% year-over-year price increase in October 2025, with the median price reaching $308,100. Chicagoland’s median rose to $344,000, continuing a trend that favors sellers.
Inventory, however, is still tight. Illinois has about a 3-month supply, while Chicagoland sits closer to 2 months, well below the 6 months considered balanced. This keeps sellers in a relatively strong position.
Why It Still Favors Sellers
- Strong price growth in many areas
- Fast market times—homes often go under contract within days
- Limited supply, especially in suburban Chicagoland
Signs of Rebalancing
- Fewer bidding wars and fewer homes selling above list price
- More price reductions, showing sellers are becoming more flexible
- Slightly longer days on market
- Gradually rising inventory compared to last year
For Buyers
Competition remains, but conditions are improving. More price reductions and rising supply offer better negotiating opportunities than in past years. Buyers still need patience and strong offers, especially in high-demand suburbs.
For Sellers
Sellers still hold an advantage, but must price realistically. Overpriced homes no longer receive instant multiple offers. Expect slightly longer market times and be open to negotiations.
Bottom Line
Illinois is now a transitioning market—still leaning toward sellers but steadily shifting toward balance. Success for both sides comes from understanding local conditions, pricing strategically, and working with a knowledgeable real estate professional to navigate these evolving dynamics.
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