Illinois Housing Market Statistics

IAR Fast Stats presented by the Illinois Association of REALTORS

Snapshot: Illinois Home Sales

Illinois median home prices increase 7.2 percent in July; Home sales down, but homes selling faster

Infographic: Illinois Housing Market June 2014


(August 21, 2014) -- Illinois home prices rose again in July, marking nearly two years of annual gains. Home sales dipped as tight credit standards and lower, but improving inventory levels continue to affect the market, according to the Illinois Association of REALTORS®. Read the news release.

NEW: REAL study on the hidden cost of foreclosures in Chicago neighborhoods

Infographic: July Illinois Housing Market Snapshot
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Infographic: Home Sales and Prices Up This June
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Infographic: Illinois Housing Market April 2014
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Sales -6.5%
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Housing Price Forecast

“While sales in July were weaker than last year, they are still stronger for the same month in any other year between 2008 and 2012.  Once again, median prices are still growing robustly,” noted Geoffrey J.D. Hewings, Director of the Regional Economics Applications Laboratory of the University of Illinois.

“The improving national job market is reflected in a more confident attitude on the part of consumers and home builders, although recent employment growth in Illinois has underperformed both the Midwest and the nation. If the current foreclosure inventory continues to decrease at recent rates, then the inventory will return to pre-recession levels by the end of the year in Illinois.”” 

Chicago PMSA
Sales -8.0%
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City of Chicago
Sales -8.2%
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Contact: Jon Broadbooks, Director of Communications
217-529-2600 phone |


Looking for trends and data on Illinois homebuyers?

Find demographic data at

  • 84% utilized the services of a REALTOR® for their most recent purchase.
  • 77% were married.
  • 17% were first-time homebuyers.
  • 67% stayed within their previous county.

WhyIBuy is a project of the Illinois Association of REALTORS® that aims to better understand the opinions and motivations of homebuyers across the state. Learn more. (Data is updated as of August 2013 and is collected throughs urveys.)