Home sales in Illinois rose 18.4% in July, with 9,708 homes sold in the state compared to 8,197 last year, according to the Illinois Association of Realtors. While sales went up, the median statewide sales price declined 3.8%, hitting $153,000 in July, down from $159,000 a year ago. “The market, like the economy, continues to struggle even though interest rates and prices would appear to suggest favorable conditions for housing purchases,” said Geoffrey Hewings, director of the regional economics applications laboratory at the University of Illinois. Hewings expects to see year-over-year sales gains in the next three months for both Illinois and the greater Chicago area. In the Chicago metropolitan area, which includes nine counties, 6,625 home sales were recorded in July, up 19.2% from 5,560 last year. The median price in greater Chicago fell 5.4%, hitting $182,500 compared to $193,000. Write to: Kerri Panchuk.
Kerri Ann Panchuk was the Online Editor of HousingWire.com, and regular contributor to HousingWire magazine. Kerri joined HousingWire as a Reporter in early 2011 and since earned a law degree from Southern Methodist University. She previously worked at the Dallas Business Journal.see full bio
Most Popular Articles
Kelley Blue Book launches home valuation platform
Kelley Blue Book Homes launches in 10 states with valuations for consumers, agent subscriptions, and leads starting August 1.
Jul 07, 2026
-
A new MLS value proposition from North Texas Real Estate Information Systems: Pay the brokers
Jul 07, 2026 -
Why aren’t mortgage rates lower?
Jul 07, 2026 -
America 250 is a turning point for American homeownership
Jul 02, 2026 -
Better mortgage spreads are still keeping home sales positive
Jul 04, 2026 -
Could a $475 Compass fee spark the next wave of real estate lawsuits?
Jul 06, 2026
Latest Articles
The $32 Beazer bid is in, now the fight is over standstill terms
A little more than a month into a hostile homebuilder takeover saga that has not quite reached midsummer, Dream Finders Homes’ pursuit of Beazer Homes is beginning to resemble a Shakespearean tale of unrequited love. The ardent suitor has returned again. And again. The latest offering is richer: $32 per share in cash, up 24% […]
Kerri Ann Panchuk was the Online Editor of HousingWire.com, and regular contributor to HousingWire magazine. Kerri joined HousingWire as a Reporter in early 2011 and since earned a law degree from Southern Methodist University. She previously worked at the Dallas Business Journal.see full bio