Illinois Real Estate Trends - A New Way to Look at Illinois Realty
The robust Illinois real estate market caters to investors, home buyers and renters alike with its wide variety of price points and property types. Urbanites need look no further than Chicago homes for sale to find the downtown living and city nightlife that they crave.
Buyers seeking a suburban or rural lifestyle will be pleased to know that the Illinois real estate market encompasses both unique and traditional housing choices. Illinois is still considered a traditional “buyer’s market” as the average condo is generally on the market for 205 days and single family homes 180 days before sale.
The Chicago real estate market significantly prefers stand alone houses to condominiums or townhouses. The average condo sells for $229,000 and is on the market for almost 9 months while single family homes cost $211,000 and generally find a buyer in 160 days. The city’s charm combined with the wealth of inventory makes the Chicago real estate market an excellent choice for all kinds of local and out-of-state shoppers. Here’s a look at current prices in the city.
Average listing price for properties in Chicago:Illinois Real Estate:
Largest Increase in Listing Price
| City | 3 mo. | |
|---|---|---|
| Saint Charles, IL Real Estate | 46.31% | |
| Winnetka, IL Real Estate | 13.89% | |
| Batavia, IL Real Estate | 12.37% | |
| Pekin, IL Real Estate | 12.01% | |
| Cary, IL Real Estate | 11.10% |
Illinois Real Estate:
Largest Decrease in Listing Price
| City | 3 mo. | |
|---|---|---|
| Woodstock, IL Real Estate | 11.02% | |
| Cicero, IL Real Estate | 8.13% | |
| Rock Falls, IL Real Estate | 6.85% | |
| Freeport, IL Real Estate | 6.74% | |
| Waukegan, IL Real Estate | 6.31% |
Most Expensive Illinois Homes for Sale by City
| City | Median $ | 3 mo. | |
|---|---|---|---|
| Winnetka, IL Homes for Sale | $2,523,018 | 13.89% | |
| Lake Forest, IL Homes for Sale | $2,037,507 | 5.37% | |
| Hinsdale, IL Homes for Sale | $1,640,261 | 2.28% | |
| Burr Ridge, IL Homes for Sale | $1,317,350 | 1.85% | |
| Highland Park, IL Homes for Sale | $1,214,231 | 0.98% |
Least Expensive Illinois Homes for Sale by City
| City | Median $ | 3 mo. | |
|---|---|---|---|
| Park Forest, IL Homes for Sale | $63,362 | 0.06% | |
| Dolton, IL Homes for Sale | $69,366 | 1.99% | |
| Calumet City, IL Homes for Sale | $73,953 | 5.09% | |
| Chicago Heights, IL Homes for Sale | $80,113 | 3.06% | |
| Granite City, IL Homes for Sale | $87,556 | 1.90% |
Top 5 Illinois Cities for Families
| City | Homes with Children |
Crime vs. Natl. Avg. |
|---|---|---|
| Cicero, IL Local Info | 57.00% | 0.75 |
| Plainfield, IL Local Info | 56.00% | 0.43 |
| Lake in the Hills, IL Local Info | 52.00% | 0.16 |
| Winnetka, IL Local Info | 52.00% | 0.25 |
| Frankfort Square, IL Local Info | 52.00% | 0.27 |
Top 5 Illinois Cities for Singles
| City | Unmarried | Female to Male |
|---|---|---|
| East Saint Louis, IL Local Info | 83.00% | 57% / 43% |
| Carbondale, IL Local Info | 77.00% | 48% / 52% |
| North Chicago, IL Local Info | 76.00% | 38% / 62% |
| Urbana, IL Local Info | 74.00% | 50% / 50% |
| Macomb, IL Local Info | 73.00% | 51% / 49% |
Largest Increase in Listing Price Methodology
This chart uses the median listing price of cities with at least 100 active property listings to calculate the largest percentage increase in median listing prices for single family homes over a three month period.
Largest Decrease in Listing Price Methodology
This chart uses the median listing price of cities with at least 100 active property listings to calculate the largest percentage decrease in median listing prices for single family homes over a three month period.
Most Expensive Homes for Sale by City Methodology
This chart uses the median listing price of cities with at least 100 active property listings to retrieve the cities with the five highest median listing prices of single family homes. In addition, the median listing prices are used to calculate the associated increase or decrease in median listing price as a percentage over a three month period.
Least Expensive Homes for Sale by City Methodology
This chart uses the median listing price of cities with at least 100 active property listings to retrieve the cities with the five lowest median listing prices of single family homes. In addition, the median listing prices are used to calculate the associated increase or decrease in median listing price as a percentage over a three month period.
Top 5 Cities for Families Methodology
This chart displays the top five cities with a population of at least 10,000 that have the highest percentage of homes with children and the lowest crime rate. Crime rate is determined by comparing each city's crime rate index against the national crime rate index, which equals 100. A number lower than one indicates less crime than the national average, while a number greater than one indicates more overall crime than the national average.
Top 5 Cities for Singles Methodology
This chart displays the top five cities with a population of at least 10,000 that have the highest percentage of unmarried people. An unmarried person is defined as someone who was never married, is separated, or divorced.