Springfield, IL (CAPITOL CITY NOW) – The prices of homes for sale in Illinois increased in the month of November, while sales and available inventory were lower, according to Illinois REALTORS.

The group, formerly known as the Illinois Association of Realtors, says in November, 9,207 homes were sold, down 9% than November, 2024, when 10,123 sold.  In addition, 21,305 homes were for sale, compared to 22,449 in November, 2024.

In the City of Chicago alone, sales were down 11.8%, and available homes for sale dropped 24.7% sitting at 3,707.

“November saw a seasonal slowdown in sales, but prices still moved higher,” said Jeff Kolbus, president of Illinois REALTORS® and president and owner of RE/MAX Traders Unlimited in Peoria, in a news release. “Limited inventory kept the market competitive throughout the month.”

According to a news release, home sales are forecast to decline 8.7% between November and February, over the same period a year ago.  An analyst quoted in the news release says tight inventories, increased prices, and affordability issues will continue to provide challenges for home buyers.

The current 30-year, fixed-rate mortgage is listed at 6.24% as of November, 2025, down a tenth of a percentage point from October, and is also lower than the 6.81% rate in November, 2024.

The monthly media home sale price in Illinois is at $299,000. In the Chicago metro area, that price is at $360,000. In the city of Chicago alone, the price is $360,000. Only the city of Chicago’s price was slightly lower, while the other prices were higher.

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