Home Prices Flatten In City

The median price of homes sold in Chicago in January was $345,000, according to the Chicago Association of Realtors. That’s down 0.9% from a year earlier.

This is a BIG shift from near-constant price hikes, when prices grew at least 5% year-over-year in every month (some more than 9%).

Prices Still Up in Chicagoland Metro Area

The median price of homes sold in the nine-county metro area in January was $350,000, according Illinois Realtors Association. That’s up 3% from the same time a year ago, a pretty consistent figure over the last 6 months.

Number of Sales Down

Chicago saw fewer homes sold than in any January since 2009. For the metro area, it was the fewest since 2011.

In the city, 1,019 homes sold during the month, down 21% from the year before. This is eerily similar to the 918 homes The total hasn’t been that low since 918 homes sold in January 2009 at the depths of the housing crash.

The metro area saw 4,259 sales, down 16.1% from the same time in 2025. The last time January’s tally was lower, in 2011, 3,952 homes sold.

Chicago Sales Still Beating Inflation

New Case-Shiller data a comment that nationwide home sellers are losing ground against inflation. But the opposite is true in the Chicago area.

Annual inflation was about 2.7% in 2025, or about 1.3 percentage points above the nation’s home price growth in the same period, effectively eroding real home values for most owners.

But Chicago’s rate of price growth is above the rate of inflation.