What was the median home price in Chicago in September 2026?

The citywide median sold price was $390,000, up 8.3% from $360,000 in September 2025. This covers single-family homes, condos and townhomes combined.

Is it a buyer's or seller's market in Chicago right now?

Chicago had 2.1 months of supply in September 2026, which is a seller's market since anything under about 3 months favors sellers. Prices rose even as closed sales dropped, suggesting limited listings rather than fewer buyers.

Where in Chicago do buyers have the most room to negotiate?

Downtown areas like the Near North Side and Near West Side give buyers more negotiating room. The Near North Side had 2.8 months of supply and homes sold at 98.8% of list price, while the Near West Side's median price fell 6.0%.

Chicago Real Estate Market Update: September 2026

by Michael Kang

Every month we pull closed sales from the MLS for the City of Chicago and 19 of the neighborhoods and suburbs where we work most. Here's what September 2026 told us, and what it means if you're buying or selling this fall. The full interactive table is on our Chicago & Suburbs Market Report.

The citywide picture

Median sold price: $390,000, up 8.3% from $360,000 in September 2025 (single-family homes, condos and townhomes combined).
Closed sales: 1,656, down from 1,812 a year ago.
Median days on market: 16.
Median sold-to-list ratio: 100.0%. The typical home sold at its asking price.
Months of supply: 2.1, with 4,045 active listings.

Prices went up while the number of sales went down. That usually means there aren't enough listings, not that buyers have gone away. Anything under about 3 months of supply is a seller's market, and Chicago is well under that.

The north side is the tightest market around

Lincoln Park had just 1.0 month of supply and a median of 7 days on market, with a median price of $855,000 (up 9.6%). Lake View (1.1 months, 9 days) and West Town, which includes Wicker Park, Bucktown and Ukrainian Village (1.2 months, 11 days), weren't far behind. If you're shopping there, have your pre-approval and attorney lined up before you tour.

Downtown condos give buyers more room

The Near North Side (River North, Gold Coast, Streeterville) is a different market. Homes there took a median 26 days to sell, closed at 98.8% of list price, and the area has 2.8 months of supply. Sales fell to 175 from 253 a year ago. The Near West Side, including the West Loop, saw its median slip 6.0% to $402,500. Both are good places for buyers to ask for credits.

The suburbs

North-shore and northwest suburbs stayed competitive. The median Northbrook sale closed at 102.5% of list and Highland Park at 102.3%. Among suburbs with at least 30 sales, the biggest year-over-year price gains were Evanston (+20.5%), Arlington Heights (+15.0%) and Glenview (+14.7%). Most suburbs we track had less than 2 months of supply.

A word of caution on smaller towns: Winnetka (15 sales), Hinsdale (24) and Oak Brook (13) can swing a lot month to month depending on which homes happened to close. Winnetka's median fell 18.2%, but with only 15 sales that says more about the mix of homes than about values.

What this means for you

Buyers: expect competition for well-priced homes in Lincoln Park, Lake View, West Town and the north suburbs. Downtown condos and the West Loop are where you can still negotiate. Run your numbers first with our affordability calculator.

Sellers: low inventory works in your favor, but only if the price is right. Homes priced off this month's comps are selling in one to two weeks; overpriced ones sit. See what you'd walk away with using our home sale calculator, or get a free valuation.

Source: Midwest Real Estate Data LLC (MRED), closed sales of detached and attached homes, September 1–30, 2026 vs. September 2025. Deemed reliable but not guaranteed.