Illinois Real Estate Market Update: June 2026 This report provides a factual overview of the Illinois real estate market as of June 2026, focusing on key metrics relevant to For Sale By Owner (FSBO) sellers.
Data is compiled from statewide and regional MLS aggregations.
Median Home Prices The statewide median home price in Illinois for June 2026 reached $295,000.
This represents a 4.1% increase compared to June 2025's median price of $283,380.
Year-to-date, the median home price has shown a consistent upward trend, with a 2.8% increase since January 2026.
Regional variations are present; for instance, the median price in the Chicago metropolitan area was $355,000, while downstate regions generally reported lower medians, such as $190,000 in the Central Illinois region.
Days on Market (DOM) The average Days on Market (DOM) for residential properties across Illinois in June 2026 was 38 days.
This figure indicates a slight decrease from May 2026's average of 41 days and a more significant decrease from June 2025's average of 45 days.
Properties in highly desirable suburban areas surrounding major metropolitan centers frequently recorded DOM figures below the statewide average, with some listings moving from active to pending status within 15-20 days.
Conversely, some rural markets experienced DOM figures exceeding 60 days.
Buyer Demand Buyer demand in Illinois for June 2026 remained robust.
The statewide sales-to-list price ratio stood at 99.8%, indicating that, on average, homes sold very close to their initial asking price.
Approximately 35% of all closed transactions in June involved multiple offers, particularly for properties priced competitively and in good condition.
Mortgage interest rates, while fluctuating, remained a significant factor influencing buyer affordability and purchasing power.
The number of pending sales increased by 2.5% from May 2026, suggesting continued buyer interest moving into the summer months.
Inventory Levels Housing inventory levels in Illinois remained constrained in June 2026.
The statewide months of supply stood at 2.8 months, indicating a seller's market where demand outpaces the available supply of homes.
This figure represents a minor increase from 2.7 months in May 2026 but a decrease from 3.1 months in June 2025.
The total number of active listings statewide was 38,500 units, a 1.2% increase from the previous month but still below pre-pandemic levels.
New listings entering the market during June totaled 14,200, a 0.8% increase compared to June 2025.
This limited inventory contributes to the competitive environment observed in many local markets across the state.