Chicago home prices kept climbing in September while the number of homes for sale dropped sharply. For agents, that means sellers hold more leverage and every listing that does hit the market has to stand out.

Here are the numbers that matter, and what they mean for your next listing appointment.

City of Chicago

• Median sale price: $389,900, up 8.3% from $360,000 a year ago.
• Closed sales: 1,681 homes, down 7.2% from 1,812.
• Homes for sale: 3,788, down 20.9% from 4,789.

Source: Illinois REALTORS, City of Chicago, September 2026, confirmed in the Illinois REALTORS September release.

Chicago Metro Area

The nine county metro area includes Cook, DeKalb, DuPage, Grundy, Kane, Kendall, Lake, McHenry and Will counties.

• Median sale price: $385,000, up 6.9% from $360,000.
• Closed sales: 7,326, down 3.5% from 7,595.
• Homes for sale: 14,837, down 8.4% from 16,205.

Source: Illinois REALTORS, Chicago Metro Area, September 2026.

Illinois

• Median sale price: $324,000, up 7.8% from $300,500.
• Closed sales: 11,104, down 3.3% from 11,486.
• Homes for sale: 23,841, down 2.7% from 24,511.

Source: Illinois REALTORS, statewide, September 2026.

Nationally

• Existing home sales: a seasonally adjusted annual rate of 3.99 million, up 1.5% from August and down 2.2% from a year ago.
• Median existing home price: $417,500, up 1.3% from a year ago.
• Supply: 1.60 million homes for sale, a 4.8 month supply.
• Midwest median: $329,600, up 3.1% from a year ago.

Source: National Association of REALTORS, September 2026.

Mortgage rates

The 30 year fixed rate averaged 7.18% in Freddie Mac's survey released November 5, 2026, down from 7.24% the week before. Source: Freddie Mac.

What this means for your business

Chicago inventory is down by about a fifth from last year while prices are up. Sellers know it. Your listing presentation needs to show exactly how you will get their home in front of more buyers than the agent down the street.

Fewer homes are selling, so the buyers who are active are comparing every option online. The listings that win attention are the ones with the strongest first impression in the photos, the video and the tour.

Rates are still above 7%, so the monthly payment matters to buyers. Know the down payment programs your buyers may qualify for. We break down what is open right now in our down payment guide.

Illinois REALTORS figures cover September 1 to 30, 2026, from MLS data as of October 7, 2026. Every figure in this article was checked at its source on November 6, 2026.