Homebuyer FAQs

Chicagoland home sales remained relatively steady in October 2025, even as consumers across the country experienced increased economic uncertainty. Detached home sales increased 0.4% in October 2025 as compared to the same month last year. At the same time, detached homes under contract increased 3%, indicating a possible lift in sales activity in the months ahead. This stability in the housing market may come as a surprise given 2025’s economic volatility, and supporting data from Pew Research Center showing 3 in 10 U.S. adults say they expect the financial situation for themselves and their families to be worse a year from now. The local housing market’s stability indicates, however, that many Chicagoland consumers see homeownership as a smart financial decision regardless of the state of the economy. “The economy will always have ups and downs but savvy Chicagoland consumers realize that owning a home and building equity is always a smart financial decision, regardless of the economic climate,” said Kinga Korpacz, president of Mainstreet REALTORS®. “The sooner you can get started the better, and that means not waiting for more economic stability to buy.” The 3% increase in homes under contract in Chicagoland in October is another indicator of continued confidence among Chicagoland homebuyers but it remains to be seen whether that increase will translate to a lift in closed sales. “Certainly, anecdotally, we’re hearing about buyers who are making offers and getting cold feet given the state of the economy,” said John Gormley, CEO of Mainstreet REALTORS®. “But when people have life or family situations that mean they need to move, it outweighs the uncertainty in the economy and many buyers are able to look past it and remember that a home is always a smart investment. In Chicagoland, buyers are becoming a bit immune to the news cycle and looking inward to make the right financial decisions for themselves and their families.” While detached home sales and homes under contract increased in October 2025, average time on the market increased 10.5% as compared to October 2024. “Slower market times indicate buyers are taking their time and making more deliberate decisions versus rushing to buy,” said Korpacz. “This is not necessarily a bad thing, especially in a market with as much hyperlocal variability as Chicagoland. It means buyers can take their time to ask for expert advice from a Mainstreet REALTOR® about what is going on in the specific community where they want to buy and make a smart long-term decision.” Buyers had more flexibility to move at their own pace in October 2025 than earlier this year as the average months’ supply for homes in the Chicagoland primary metro statistical area (PMSA) increased to 2.1 months, up from 1.7 months in January 2025. “In a market like this one, it’s critical to take the time to do your due diligence with a Mainstreet REALTOR®, who can help you with everything from understanding hyperlocal market data to finding programs that provide downpayment assistance and improve housing affordability,” said Korpacz. “A home is one of the best investments you can make in any economy, as long as you are guided by expert advice and data to make a decision that is right for you and your family.” Several suburban communities saw especially significant increases in homes under contract in October 2025, making them areas to watch as we see whether that trend impacts closed sales in the months to come. Notable increases included: Berkeley: under contract homes up 166.7% in October 2025 vs. October 2024 Broadview: 133.3% Calumet Park: 150% Inverness: 150% Itasca: 225% LaGrange Highlands: 300% Lynwood: 133.3% Monee: 250% Mundelein: 105.9% North Aurora: 230% Palos Hills: 120% Get in touch with a Mainstreet REALTOR® for hyperlocal data and insights into programs that can help you get into a home affordably, even in today’s uncertain economy.