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Chicago Region’s Home Sales Post Y-O-Y Gain in July

Home sales across the Chicago region rose 1.4% year over year in July after two months of annual declines, according to RE/MAX. The region’s median sales price gained +2% to $255,000, the highest median price for July since 2008.

“The inventory of homes for sale has expanded a bit, though so far that increase is limited to the attached-home market” that includes condominiums and co-ops, said Jeff LaGrange, VP of the RE/MAX Northern Illinois region. “At the same time, demand for affordable detached homes seems to be benefitting those areas where homes priced under $350,000 are more plentiful.”

July home sales rose in five counties, with Kendall gaining 9.2%, McHenry and Will each up 7.1%, Kane up 4.1% and Cook gaining 1.4%. Sales fell by 3.5% in DuPage County and 3.4% in Lake. The median sales price rose in six counties and Chicago, topped by a 10.1% increase in Kendall.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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