Residential Real Estate Market Report Chicago and Suburbs Q1 2025 Out Now!!

Chicago Real Estate Agent
May 2
2 min read

Interested in how the real estate market handled Q1 in 2025? Read the Compass Residential Real Estate Market Report for Q1 2025 for Chicago and Suburbs with statistics for your Chicago neighborhood and town.

Listing Agent Chicago - Read the Compass Residential Real Estate Market Report for Q4 2023 for Chicago and Suburbs with statistics for your Chicago neighborhood and town. — Chicago Real Estate Market Report

I am pleased to share the Q1 2025 Market Report for the Chicagoland area. The first quarter of the year demonstrated continued strength in our real estate market, with steady increases in home prices and sales activity across many parts of the region. Buyer demand remained solid, and a gradual rise in available inventory contributed to a more balanced and healthy pace of transactions.

In the City of Chicago, detached single-family homes experienced a 7.4% year-over-year increase in median sales price, reaching $365,000, while attached homes saw an 11.5% rise, bringing the median price to $262,000. Sales activity followed suit, with a 4.1% increase in closed transactions for detached homes and a 3.4% rise for attached homes. The market also saw a notable reduction in average days on market, indicating that well-priced homes continued to attract strong interest from buyers early in the year.

Homes throughout the area continued to sell quickly, with the average time to contract hovering between 8 and 12 days. This sustained buyer demand, coupled with moderate inventory levels, contributed to a competitive environment where well-priced homes moved swiftly and prices remained on an upward trajectory. Overall, the region’s performance in Q1 underscores its continued appeal, balancing price appreciation with active market movement.

As we move further into 2025, the Chicagoland real estate market is showing signs of stabilization, with pricing growth moderating slightly and inventory levels becoming more manageable. These conditions create a more favorable environment for both buyers and sellers, offering opportunities to act with greater confidence and less urgency than in previous high-demand periods.

If you are thinking about buying or selling a property in Chicago, now is an excellent time to get in touch with me to explore your options. I am here to provide hyper-local expertise, data-driven guidance, and personalized support to help you make informed decisions in today’s evolving market.