If you’re asking yourself whether it’s a good time to buy in Chicago, you’re not alone—and you’re not wrong to wonder. 2025 hasn’t exactly been calm, but the real estate market here has a rhythm of its own, and Chicago often moves a little differently than the coasts.
Here’s what the current numbers—and the local vibe—are telling us.
The Data (as of Summer 2025)
Median Sale Price (Citywide): $360,000 (⬆️ up 2.2% YoY)
Active Inventory: Up 5% from spring, mostly driven by condo listings
Interest Rates: Hovering around 6.75%
Days on Market (Median): 27
Most Competitive Markets: Logan Square, West Loop, Lincoln Square, Jefferson Park
Despite national headlines, Chicago prices remain relatively stable—with far less volatility than cities like Austin or San Francisco. That stability makes Chicago one of the most livable big cities in the country, especially for buyers playing a longer game.
What Type of Buyer Wins Right Now?
First-time buyers willing to expand their search radius
Upsizers trading condos for single-family homes
Out-of-state buyers coming from higher-priced markets (hello, Californians)
Buyers focused on 5–10 year timelines, not 2–3 year flips
This is not a market for quick wins. It’s a market for people who value good bones, a smart location, and some breathing room.
What About Condos?
Condos are having a moment—especially in neighborhoods where new construction has slowed. West Loop, South Loop, and Bronzeville are seeing increased demand for well-located 2- and 3-bed units with parking and outdoor space.
But remember: not all HOA buildings are created equal. It pays to work with an agent who can spot red flags before you fall in love with the layout.
The Bottom Line
Buying in Chicago right now isn’t about timing the market—it’s about knowing the market. And if you’re looking to plant roots in a city where culture, parks, and restaurants come standard, Chicago still gives you more for your money than almost anywhere else.
Let’s be real: You don’t have to buy right now. But if you’re ready, there’s a home (or loft or greystone) that’s worth saying yes to—and a strategy that makes it make sense.