The Dobbs Report – Chicago Real Estate Market Overview
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February 2026 marked an early step into the spring market, but inventory remains dismal and near historic lows. Active listings rose to 1,502 (from 1,417) and new listings increased to 1,498 (from 1,381), which is a typical late-winter seasonal pattern – yet the pace is still far too slow to meaningfully rebuild supply, keeping buyers constrained by limited choice.
Pricing looked steadier but more stratified. The average listing price was essentially flat at about $740K, while the average closed price rose to $648,625, suggesting improved execution on the deals that are actually trading even as the market remains selective. At the same time, market time increased to 74 days (from 63), which fits a market where choice is expanding and buyers are taking a bit longer to decide – especially when pricing isn’t dialed in. The original list-to-closed ratio improved to 99.3%, signaling firmer outcomes for well-positioned listings and less discounting on homes that match what buyers want as the spring market approaches.
Chicago Homes – Dynamic Market Overview
| City | Num Active Listings | Avg Listing Price | Avg Price Reduction | Avg Days on Market | Avg Price per SqFt |
|---|---|---|---|---|---|
| Chicago | 2,209 | $479,157 | -31.5% | 211 | $200 |
| 2,209 | $479,157 | -31.5% | 211 | $200 |
| City | Num Active Listings | Avg Listing Price | Avg Price Reduction | Avg Days on Market | Avg Price per SqFt |
|---|---|---|---|---|---|
| Chicago | 10,867 | $540,559 | -4.9% | 83 | $324 |
| 10,867 | $540,559 | -4.9% | 83 | $324 |
Dynamic searches of market trends will give you an overview of the real estate market's current state. Set your preferred parameters to find statistical data from recent real estate transactions in Chicago. For an in-depth analysis of a specific market segment, please contact me. I'll be happy to create a tailor-made analysis that perfectly suits your specific criteria.
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