Homebuyer FAQs

Chicagoland Housing Market Hits its Spring Sprint

By Amy Robey • April 22, 2026

Spring arrived in Chicagoland suburbs and so did homebuyers. The sales of detached, single-family homes were up 7.5% year over year in March, with 2,134 homes sold compared to 1,985 a year ago. Homes spent an average of 53 days on market, down slightly from 54 days last year. Median prices were up nearly 5%, from $385,000 in March 2025 to $403,250 last month. Months' supply for housing inventory was just 1.5 months across the entire Chicagoland PMSA, well below the five to six months that signals a balanced market. To put that in perspective, Bloomingdale currently has just 8 homes for sale, while a comparable community in Florida has roughly 2,000. "Inventory is still severely constrained and so we are seeing extreme competition for quality listings," said Kinga Korpacz, President of Mainstreet REALTORS®. "Buyers are waiving attorney review and inspections and coming in with significant earnest money." Buyers may find more options in Kane County, where new listings were up 14.5% last month, compared to the same time last year. Even in the attached home segment, where 1,086 homes sold compared to 1,094 a year ago and market time increased from 42 to 54 days, median prices climbed 5.6%, from $270,000 to $285,000. "Even though prices are on an upward path in the Chicagoland suburbs, the market feels predictable," said John Gormley, CEO of Mainstreet REALTORS®. "When things are moving this fast, local expertise from a Mainstreet REALTOR® isn't optional, it's essential. They're going to know the community inside and out, meaning where you have to move quickly and where you may have a day or two to make a decision." Aurora led the region in detached home sales during March with 100 homes sold, followed by Naperville and Arlington Heights. While detached homes across the region sold in an average of 53 days in March, several suburban communities saw average market time fall compared to a year ago: Arlington Heights (70 days to 25 days) Downers Grove (59 to 36) Geneva (35 to 25) Lombard (48 to 25) Streamwood (49 to 30) Tinley Park (107 to 37) Wheaton (24 to 10) Feeling squeezed out of the market? Look for pockets where you might have a little more room like Kane County. And if you're open to it, attached homes, which are condos and townhomes, are moving a bit slower right now, which could mean more time to make a decision and more options at a competitive price point.

Suburban Chicago Home Sales Decline in February as Inventory Shortage Persists

By Wesley Rusick • March 24, 2026

Suburban Chicago home sales slowed in February as inventory shortages continued to define the market. Sales of detached homes were down nearly 10% compared to the same month last year. A total of 1,445 homes sold last month, down from 1,596 in February.

Mainstreet REALTORS® Local Market Pulse

By Lindsay Mullen • March 11, 2026

We asked Mainstreet REALTORS® for their honest answers to consumers’ most pressing questions about residential real estate today. Here’s what they shared.

Farm Fresh Destinations: A Guide to Farmers Markets in Chicagoland

By Wesley Rusick • March 10, 2026

The Best Local Produce, Art and Welcoming Vibes in Town

Mainstreet 2026 Economic Forecast: Not Too Hot, Not Too Cold

By Amy Robey • February 5, 2026

“Not too hot, not too cold, just right,” is how Thomas Walstrum, an economist at the Federal Reserve Bank of Chicago, described the S&P Global GDP forecast. Walstrum spoke at a local event hosted by Mainstreet REALTORS® on January 14. He shared that, despite headlines, the economy in 2025 was actually boring — in a good way — and that he expects 2026 to be a decent year for the economy. According to forecasts presented at the event, real GDP growth is expected to be about 2.2%, close to what economists consider normal long-term growth. “The economy is kind of settled in very close to its long-run growth rates,” Walstrum noted. This is good for Chicagoland, which he pointed out has a tightly linked economy with the overall U.S. In other words, when the U.S. economy is healthy so is the Chicago economy. Walstrum shared that analysts see the Fed lowering interest rates in 2026 to a point where they are neither stimulating nor slowing the economy, meaning rates are expected to level out rather than rise sharply. At the same time, the U.S. has a faster growth pace than the Chicago metro area, which includes the city and surrounding suburbs. Walstrum suspects there are two main reasons for this: “The two big ones are our industry mix and our climate.” The weather, particularly during the pandemic, pulled people south and west, a trend some local REALTORS® are now seeing reverse. “More people are moving back to Chicagoland after long periods of time away. This seems to be driven largely by high homeowners insurance costs in other states,” said Jason Hinsley, Designated Managing Broker, RE/MAX Metropolitan. When it comes to employment growth over the next four qu arters, Chicagoland is expected to continue growing, though at a slower, more sustainable pace. “I’ve been talking about Chicago being slow growth but Chicago is actually a very strong economy in terms of both size and earnings,” Walstrum noted. “Unemployment has been coming up but not in a recessionary way. It’s just slightly cool, and still a very healthy labor market,” he added. Against the broader economic backdrop, local REALTORS® also shared their reflections on 2025 and predictions for 2026. “As I reflect on 2025, what stood out was that the market was still fast-paced and sellers continued to have the advantage, even though buyers were more cautious than in past years,” said Michelle Mauntel-MacDonald, REALTOR®, Keller Williams Premiere Properties. “If rates happen to dip, I believe the market may pick up quickly and prices will rise again. I also understand that the decisions the government makes affect the market. It will be interesting to see what the next year brings,” noted Stacy Beeson, REALTOR®, Coldwell Banker Real Estate Group, Shorewood. Income per capita in both the U.S. and the Chicago metro area is expected to grow by 3.2%. “Chicago is a very productive place, with lots of people earning lots of money. And S&P doesn’t see that advantage for Chicago going away,” Walstrum said. Before the housing bubble, the Chicago metro area’s home prices were above median home prices in the U.S. “And then it started to lag… home prices in other big cities in the country have grown a lot faster than Chicago’s home prices over the last 15 years. And what that means, according to this data, is that Chicago is actually now one of the most affordable large cities in the country,” Walstrum explained. This relative affordability gives buyers more room to be selective and helps sellers attract serious, qualified buyers. “One of the big advantages, at least from an economist’s perspective, of being a slower-growth place is that slower-growth places tend to have slower growth in the cost of living,” he concluded. When viewed alongside housing data, Chicagoland stands out as a compelling place to purchase a home and live. Taken together, the economic outlook and local market insights point to a year defined more by stability than surprises. With the broader economy growing at a steady pace, interest rates expected to level out rather than spike and Chicagoland maintaining its relative affordability compared to other major metro areas, buyers and sellers alike have room to make thoughtful, informed decisions. While the market remains competitive, especially for well-priced homes, today’s conditions offer more balance than in recent years, giving buyers time to be selective and sellers confidence that serious demand is still there as 2026 approaches.

Keep the Presents Safe: Holiday Scam Prevention Strategies

By Wesley Rusick • November 24, 2025

Imagine a holiday season with zero presents because someone emptied your bank account in the blink of an eye. Which means you can also say goodbye to that mortgage payment.

Chicagoland Housing Market Holds Steady Amid Economic Uncertainty

By Amy Robey • November 18, 2025

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.

Oh the Places It Snows: 5 Must Try Chicagoland Winter Festivities

By Wesley Rusick • November 12, 2025

Mainstreet HQ, Downers Grove – Winter has a reputation as being too cold, not enough sunlight and a barren activities calendar. What if we told you that none of those are true and furthermore, Chicagoland has truly magical opportunities for wintery good times? After-all, November and December embrace the holiday season, where joy and new memories are just a car, train or Uber ride away. Welcome to your guide for five of the most popular and accessible winter fascinations right in our jurisdiction. We want you to see these seasonal merriments and their neighborhoods because your dream home might be nearby. The catalogue of celebrations below is aimed at attracting homebuyers to their respective areas. Homes are more than just structures; they are nestled in neighborhoods you fall in love with and build a life around. Look through what we found for you and plan an outing with friends or family or both! Schaumburg – Santa’s Flight to Schaumburg Description – Want to wait for jolly Saint Nick in style? Head on over to Pilot Pete’s in Schaumberg on December 7 from 9 a.m. to 11 a.m. or 1 p.m. to 3 p.m. and wait in the heated hangar for his helicopter to arrive. Yes, that reads accurately. Enjoy some breakfast buffet or lunch buffet (depending on time) until you hear the whirly bird sounds of holiday cheer descending upon the tarmac. Music, food, crafts and a truly unique way to welcome Mr. Claus for the holiday season. Visit Meet Chicago Northwest for more details and bookings! Aurora - Christkindl Market Description – From November 21 to December 4 the Aurora Christkindl Market is open for business. The traditional European celebration pairs winter themes with high quality food and gift vendors, providing a classic backdrop for family pictures and cherished moments frozen in time. Build a snow globe, make an ornament or go on a holiday themed scavenger hunt! The Aurora Christkindl Market hosts live music, tasty holiday treats and is open from morning to night, Thursday to Sunday! Click here to view parking availabilities and the countdown clock! Hinsdale - Hinsdale’s Winter Wonderland Description – Sunday, December 3 from 9 a.m. to 1 p.m. pop on over to beautiful Hinsdale and head to Katherine Legge Memorial Park. You will see some familiar faces there with Mr. and Mrs. Claus available for a photo op. But you may be surprised to find out Elsa, Anna, Olaf and Kristoff from Frozen are there as well! Enjoy hot chocolate, tasty winter treats, a Toys for Tots toy drive and LIVE reindeer! Click here to register with the Village of Hinsdale! West Chicago - West Chicago Frosty Fest Description – Come ready for 150 minutes of holiday cheer for people of all ages! On Saturday December 6, West Chicago will be hosting its annual downtown winter wonderland, Frosty Fest. There you will find everything from horse-drawn trolley rides to ice sculptures, a curling rink, live alpacas and reindeer, food trucks, craft shops, face painters and of course Santa and his elves! Frosty Fest starts right at 4:30 p.m. and ends at 7 p.m. so be sure to get there right at the start to enjoy a little bit of everything! Click here to view details! Tinley Park – Holiday Happenings Description – On Saturday, December 6 and Sunday, December 7 Tinley Park will be hosting its annual Holiday Market, which features large, heated tents filled with vendors from all over Chicagoland showcasing their unique designs and creations. Let’s not forget the festive food and beverage waiting for you and the ice rink open from November 21 to February 15. For more information and further details visit the Village of Tinley Park today! Tips for Making the Most of Chicagoland Events this Fall and Winter Contrary to popular stereotypes about Chicagoland, you don’t have to stay stuck inside as soon as the weather begins to turn colder! Instead, take this advice to make sure you’re out and about enjoying everything our region has to offer this fall and winter: · Stay Connected: Sign up for local newsletters and follow community social media pages to stay informed about upcoming events and activities. Many communities have local groups or forums where events are posted regularly. · Volunteer: Volunteering at local events is a great way to meet new people and get involved in your community. It’s also a rewarding way to give back and make a positive impact. · Explore Local Attractions: In addition to seasonal events, take the time to explore local attractions such as parks, museums and historic sites, both in the suburbs and in the world-class city that can be easily accessed from whichever town you call home. · Network with Neighbors : Don’t hesitate to introduce yourself to your neighbors and ask about local events and traditions. They can be a valuable resource for discovering hidden gems and getting acclimated to your new community. · Plan Ahead: Many events, especially popular ones, require advance registration or tickets. Make sure to plan to secure your spot and avoid missing out on any exciting opportunities. As a homeowner in Illinois, embracing the winter season offers a fantastic chance to immerse yourself in the local culture and connect with your new community. From cozy winter markets to vibrant holiday displays and outdoor activities, Northern Illinois has something for everyone. By participating in these great Chicagoland events, you’ll not only enjoy the seasons but also create lasting memories and build meaningful connections near home. So, grab your calendar, mark these dates, and get ready to explore all the wonderful experiences and events Chicagoland has to offer this winter.

Homebuyer FAQs

What You Need to Know

Why should I work with a Mainstreet REALTOR®?

What are some of the benefits of homeownership?

What should I expect when making an offer?

What should I know about credit and down payment assistance?

What are my loan options as a veteran or an active member of the military?

What is homeowners insurance?

When is the best time of year to buy?

Do you recommend any resources for ideas on home improvements?

Should I use a buyer’s agreement?

What do I need to know about changes to home buying as a result of the recent NAR settlement?

Chicagoland Housing Market Hits its Spring Sprint

Suburban Chicago Home Sales Decline in February as Inventory Shortage Persists

Info You Need to Know

Chicagoland Housing Market Hits its Spring Sprint

Suburban Chicago Home Sales Decline in February as Inventory Shortage Persists

Mainstreet REALTORS® Local Market Pulse

Farm Fresh Destinations: A Guide to Farmers Markets in Chicagoland

Mainstreet 2026 Economic Forecast: Not Too Hot, Not Too Cold

Keep the Presents Safe: Holiday Scam Prevention Strategies

Chicagoland Housing Market Holds Steady Amid Economic Uncertainty

Oh the Places It Snows: 5 Must Try Chicagoland Winter Festivities