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Chicago home prices hit $420,000 as inventory tightens, sales accelerate

Housing inventory remains tight with homes selling faster than the previous 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 up 6.3% year-over-year while the single-month median for May specifically was $379900 up 5.4% according to item [2].

The market is slightly competitive and favours sellers with homes receiving an average of 4 offers and selling in about 47 days which is faster than the 50 days recorded last year according to item [2].

Housing inventory remains tight with total inventory declining approximately 13% year-over-year and single-family home inventory dropping more than 20% according to item [2].

Sources: perplexity-sonar.

References Sourced but Not Limited to:

redfin.com · Housing market

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