Illinois recorded 12,674 single-family home and condominium sales during May, a 4.7% decline from the 13,300 residences sold one month earlier.
According to data from Illinois Realtors, the decline in sales occurred despite the 6% year-over-year growth in the inventory of available homes to 19,890 properties. The state’s median sales price took a 5% year-over-year rise to $315,000.
Within the nine-county Chicago metro area, 8,689 homes were sold last month, a 4.9% drop from May 2024, and the 13,195 homes available on the market marked a 3.4% increase. The median sales price of $379,900 was a 5.5% gain from one year earlier.
“Illinois real estate is holding strong,” said Tommy Choi, Illinois Realtors 2025 president and co-founder and owner of Weinberg Choi Residential at Keller Williams ONEChicago in a press release. “Fewer deals aren’t signaling less demand. They’re revealing tight inventory and high competition. Buyers are still in the game, and prices are proving it.”
Photo by formulanone / Wikimedia Commons
