Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect Daily to stay informed and save time. Connect Daily is our email publication that provides you with the latest and most relevant CRE stories of the day all in 150 words or less.

Sub Markets

Property Sectors

Topics

Chicago & Midwest  + Illinois  + Apartments  | 

Home Sales in Illinois, Chicago Post Massive Year-Over-Year Gains

Statewide home sales across Illinois—including single-family homes and condominiums—totaled 16,623 in April, up 35.3% from a year ago, Illinois Realtors said Friday. The year-over-year gains were even stronger in the Chicago metro area, with a 39.7% increase, and in Chicago, where April’s total was 59.6% above April 2020.

The statewide median price in April was $260,000, up 14.5% from April 2020. In the nine-county Chicago metro area, the Y-O-Y increase was 14.8%.

“Yes, we should celebrate April’s home sales exceeding expectations and being the strongest in years. That is a nice sign of buyer confidence heading into the summer,” said Sue Miller, president of Illinois Realtors. “But we still must address the lack of available housing of all kinds.”

Homes for sale totaled 24,749 statewide in April, a 48.7% Y-O-Y decline from April 2020, when there were 48,232 homes on the market.

Connect

Inside The Story

connect with Illinois Realtors

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 also 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 GlobeSt.com 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.

  • ◦Economy
New call-to-action
New call-to-action