The Dobbs Report – Chicago Real Estate Market Overview – August 2026
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August extended the seasonal slowdown, with new listings and contracts each down about 7% from July and closed sales falling more sharply, by 21%. Homes also took longer to sell, with average market time rising from 31 to 39 days. Yet the market remains exceptionally tight: inventory rose only slightly, and the neighborhoods we track still held just 0.9 to 1.6 months of supply. Prices were essentially steady, while homes closed at 100.4% of their original asking price – still slightly above list. In short, activity slowed and buyers gained a little breathing room, but the persistent shortage of homes continues to define the market.
Chicago Homes – Dynamic Market Overview
| City | Num Active Listings | Avg Listing Price | Avg Price Reduction | Avg Days on Market | Avg Price per SqFt |
|---|---|---|---|---|---|
| Chicago | 2,395 | $445,511 | -9.8% | 113 | $299 |
| 2,395 | $445,511 | -9.8% | 113 | $299 |
| City | Num Active Listings | Avg Listing Price | Avg Price Reduction | Avg Days on Market | Avg Price per SqFt |
|---|---|---|---|---|---|
| Chicago | 11,142 | $538,629 | -4.9% | 82 | $320 |
| 11,142 | $538,629 | -4.9% | 82 | $320 |
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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