Monthly Market Report
Chicagoland Real Estate Market Update
September 2026 — Latest August Market Data
The Chicagoland housing market remains competitive heading into fall. Home prices continue to hold firm while the supply of homes for sale remains constrained. Fewer new listings came to market in August, and mortgage rates remain elevated, making accurate pricing and preparation increasingly important for both buyers and sellers.
Chicagoland Market at a Glance — September 2026
Median List Price
$395,000
+5.4% year over year
Chicago-area asking prices remained firm in August and continued to run above year-ago levels.
Active Inventory
Down 6.0%
Year over year
The supply of homes for sale remains tighter than a year ago, continuing to support well-priced properties.
New Listings
Down 7.5%
Year over year
Fewer new listings entered the Chicago-area market in August, limiting the number of fresh choices available to buyers.
30-Year Fixed Rate
6.71%
Freddie Mac — September 3, 2026
Freddie Mac's latest weekly national average remained elevated, keeping affordability and monthly payment important considerations for buyers.
Latest Freddie Mac 30-year fixed average: 6.71% as of September 3, 2026 — Buyers remain payment-conscious as mortgage rates stay elevated, making affordability and accurate pricing especially important.
Data note: Market statistics reflect August 2026 Chicago-Naperville-Elgin metro listing data from Realtor.com Economic Research. Mortgage rate reflects Freddie Mac's national weekly average for a 30-year fixed-rate mortgage as of September 3, 2026. Daily mortgage-rate readings may differ from the Freddie Mac weekly benchmark. Market conditions vary by neighborhood, suburb, property type, and price range.
What These Numbers Mean for You — September 2026
Chicagoland continues to stand out as a relatively tight housing market. The median list price reached $395,000, up 5.4% from a year ago, while active inventory remained 6.0% below last year. At the same time, new listings fell 7.5%, meaning buyers are still working with a limited supply of fresh inventory.
For sellers, constrained inventory can continue to create opportunity, but accurate pricing and presentation still matter. Buyers remain focused on affordability and monthly payment, particularly with mortgage rates still elevated.
For buyers, competition has not disappeared. Well-priced homes in desirable Chicago neighborhoods and suburbs can still move quickly, so financing, preparation, and a clear understanding of local values remain important.
What Should You Do Next? — September 2026
If you're selling
Limited inventory continues to favor well-positioned sellers, but buyers are price-conscious. Start with an accurate understanding of your property's current market value and make sure the home is presented and priced appropriately.
Get a free home valuationIf you're buying
Higher mortgage rates make affordability and monthly payment especially important, but waiting does not guarantee lower home prices. Focus on value, financing, location, and finding the right property for your needs.
Search Chicagoland listingsWhen you're ready, I'll give you a clear roadmap — no pressure, just real guidance based on today's market.
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