Photo: File:Chicago River ferry.jpg: John Picken derivative work: Georgfotoart · CC BY 2.024,715 homes sold in Chicago in the last year, at a typical $391K
Houses and condos split the market almost evenly. Below: what each kind of home sells for, what your budget buys, the best months to buy, how hard you’ll have to bid, and a shortcut to every site where Chicago homes are listed.
Every place Chicago homes are listed, in one stop
We don’t copy listings: the agents’ sites have the photos and the latest price changes. Set what you want once and we open each site already filtered to Chicago.
For sale
Rent
New, land & open houses
Links open the listing sites; TownRatings isn’t paid for them and doesn’t rank one above another. Rentals and government-owned homes come from sources outside the MLS.
Half of Chicago’s sales are condos, at $49K more than a house
8023 houses and 12782 condos sold in the year to May 2026. Condos sell faster.
typical sale · 8023 sold in 12 months
- Per square foot
- $228IL $180
- Days to sell
- 58
- Sold over asking
- 41%
- Listings with a price cut
- 17%
typical sale · 12782 sold in 12 months
- Per square foot
- $335IL $251
- Days to sell
- 53
- Sold over asking
- 40%
- Listings with a price cut
- 12%
Multi-family (2–4 units): 2992 sold, typical $465K
Townhouses: 918 sold, typical $620K
Too few sales in 12 months for reliable figures.
Fewer homes sell than before 2022, at 1.5 times the 2016 price
24,715 sales in the last year, against 37,420 in 2021 and a low of 25,187 in 2025. The typical sale went from $267K in 2016 to $391K.
Source: Redfin Data Center, MLS sales. Typical price and $/sq ft are the monthly medians, weighted by sales.
What $400K buys in Chicago
Check a listing against what Chicago homes sold for
Against the town’s median price per square foot over the last 12 months. A rough check: condition, lot and location within town move a price more than this can see.
Bidding wars in Chicago are more common than before the pandemic, but a third fewer homes come up for sale
We read every month of Chicago’s home sales since 2012 so you don’t have to. Each figure covers 12 months, because a single month in a town is too few sales to mean much. Latest: the year to May 2026, 24,715 sales.
If you’re buying in Chicago
- Shop in February. It brings about 3420 new listings a month, close to the busiest month, with fewer bidding wars (25% over asking).
- Less room to haggle. Only 15% of listings cut their price, against 20% before the pandemic.
- Bid near asking. Buyers paid 99.9% of the list price on average; 40% paid over.
- You’ll usually have time. Only 42% of homes go under contract within two weeks; the typical one takes 55 days.
Spring brings the homes; summer brings the bidding wars
March has the most new listings (about 4190 a month), but June is the most competitive: 33% of June sales close over asking. January has the least competition (23%).
Averages for each calendar month, 2015 on.
Nearly as heated as 2021, and about like Illinois as a whole
| Chicago now | 2017–19 | 2021 peak | IL now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 40% | 25% | 31% | 37% |
| Gone within two weeksShare of homes under contract within 14 days | 42% | 33% | 37% | 46% |
| Listings with a price cutShare of homes for sale that cut their price | 15% | 20% | 20% | 19% |
| Price paid vs. askingAverage sale price ÷ list price | 99.9% | 98% | 98.9% | 99.2% |
| Days to sellMedian days from listing to contract | 55 | 62 | 27 | 49 |
6711 homes for sale on a typical day
That’s 37% fewer than in 2017–19 and well under 2012’s 11888.
1 in 7 listings has cut its price
15% in the last year, against 20% in 2017–19 and 19% across Illinois.
Since 2019, houses are up 42%, condos 26%
A house typically sold for $348K in the last year (8023 sales), a condo for $397K (12782).
Median sale price, weighted by sales each month. Years with fewer than 4 sales of a type are left out.
Chicago ranks 133rd of 324 busy Illinois markets for bidding wars
Share of sales over asking in the last year, among towns with 60 or more sales. Chicago is in the middle of the pack.
Source: Redfin Data Center, city market tracker, January 2012 to May 2026 (MLS sales, not seasonally adjusted). Ratios are weighted by homes sold; price cuts by homes for sale.
Owning the typical Chicago home costs about $2,522 a month
Price: Chicago’s typical sale, last 12 months. Property tax at Chicago’s 1.5% (median bill ÷ median value, Census ACS); insurance at 0.35% of price a year. Before PMI, HOA dues, upkeep and the tax deduction. Whether Chicago is affordable on local pay is on Cost of living.
Six things worth knowing
New listings in March
The month with the most choice. December has the fewest, about 1450.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $391K home, about $5,780 a year.
Taxes vs. neighborsSchools
The schools grade for Chicago, from test results, graduation and how much students grow.
Schools in ChicagoCheck the flood map
Flood insurance isn’t in a standard policy, and lenders require it in FEMA flood zones. Check the address before you make an offer.
Natural hazardsLook up any property
Assessed value, lot size and every past sale of a home you’re eyeing are public, at the town or county assessor and the registry of deeds.
Cicero, Berwyn, Stickney Township, Oak Park and Forest Park sell for less a square foot
The busier markets within 25 miles of Chicago, by what sold. Prices, taxes and how far a paycheck goes next door are on Cost of living.
| Sold | Typical sale | $/sq ft | Over asking | Days to sell | |
|---|---|---|---|---|---|
| Chicago | 24,715 | $391K | $279 | 40% | 55 |
| Oak Park | 703 | $448K | $269 | 46% | 48 |
| Berwyn | 396 | $355K | $211 | 41% | 64 |
| Cicero | 291 | $308K | $189 | 38% | 66 |
| Forest Park | 233 | $320K | $223 | 37% | 49 |
| Riverside | 110 | $510K | $285 | 44% | 50 |
| Stickney Township | 53 | $308K | $246 | 49% | 56 |
Redfin Data Center, June 2025 to May 2026. Towns with fewer than 20 sales are left out, and Redfin doesn’t report every town separately.
Post your home to Chicago, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Chicago. People who follow the town see it, and so do people comparing Chicago with their own town. No commission, no listing fee.
Questions about buying a home in Chicago
What do homes sell for in Chicago, IL?
24,715 homes sold in the year to May 2026 at a typical $391K, $279 a square foot. Houses sold for about $348K, condos for about $397K.
Is Chicago a buyer’s or seller’s market?
A seller’s market: 6879 homes were for sale in May 2026 and 2475 sold, about 2.8 months of supply. Buyers paid 99.9% of asking on average, and 15% of listings cut their price.
When is the best time to buy in Chicago?
March brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Chicago?
About 1.5% of a home’s value a year. On a $391K home that’s near $5,780.
Where can I see homes for sale in Chicago?
Zillow, Redfin, Realtor.com and Homes.com all carry Chicago’s MLS listings; the search links above open each one filtered to Chicago.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted). Property tax rate: Census American Community Survey. Two-bedroom rent: HUD Fair Market Rent. Typical home value: Zillow Home Value Index. Schools grade: TownRatings (how grades work).