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Chicago Home Prices Hit $420,000 as Inventory Drops 13 Percent

Data shows Chicago housing inventory declined 13 percent year over year.

By The Daily Chicago · Published July 24, 2026

How we reported this

This article was written by AI from the linked sources and was not reviewed by a journalist before publishing. The Daily Chicago is part of The Daily Network and follows our reasonable editorial care.

The median sale price for a home in Chicago was $420000 over the three months ending May 2026 according to the reports indexed as item 2. The single month median for May was $379900.

Homes in Chicago received an average of four offers and sold in about 47 days. Total inventory declined approximately 13 percent year over year while single family home inventory dropped more than 20 percent.

Mortgage rates eased to roughly 6.3 percent to 6.5 percent. 47.3 percent of homes sold over list price while 39.4 percent sold under.

Sources: perplexity-sonar.

References Sourced but Not Limited to:

redfin.com · Housing market

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