Is Chicago, IL 60669 a buyer’s or seller’s market?
Chicago is a balanced market. With about 5.4 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
The Chicago housing market right now
In the three months ending August 31, 2026, 50% of homes in Chicago, IL 60669 sold above their list price, the typical home went under contract in 64 days and there were 5.4 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 10 home sales.
Compared with the same period a year earlier, the share selling over asking was about the same (50% then), homes sold more slowly (39 days then) and the median sale price fell 12% to $662,213. Overall, Chicago is less competitive than a year ago, which gives buyers more room.
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Where Chicago is
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Questions about Chicago real estate
Is Chicago a buyer’s or seller’s market?
A balanced market: there were 5.4 months of supply in Chicago, IL 60669 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Chicago?
The typical home went under contract in 64 days in the latest three months.
Do homes in Chicago sell over asking?
50% of homes sold above their original list price, and the typical sale closed at 101.5% of the list price.
What is the median home price in Chicago?
The median sale price was $662,213 in the three months ending August 31, 2026, about $569 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology