Springfield, IL (CAPITOL CITY NOW) – Home sales in Illinois continued what the Illinois Association of Realtors says was a “pattern” in May, but they say there are plenty of homes for those looking to buy.

According to the Relators’ report for May, home sales declined 4.7 percent compared to the same period the year before — 12.674 versus 13,300.  19,890 homes were available for sale in May, compared to 18,758 in May, 2024.

The monthly median price of a home in May was $315,000, compared to $300,000 in May, 2024.

“Illinois real estate is holding strong. Despite a 4.7 percent drop in statewide sales and a 7.4 percent dip in Chicago, prices are still climbing. Median prices rose 5 percent across Illinois and 8.3 percent in the city,” said Tommy Choi, Illinois REALTORS® 2025 President, in a news release. “Fewer deals aren’t signaling less demand. They’re revealing tight inventory and high competition. Buyers are still in the game, and prices are proving it.”

In the Chicago area alone, home sales 4.9 percent from the same period a year ago, inventory increased 3.4 percent, and prices increased 5.5 percent.

The agency expects home sales to rise around four percent between June and August.  They say prices will remain flat most of the summer, but end August higher.

“Based on the Freddie Mac data, the monthly average commitment rate for a 30-year, fixed-rate mortgage was 6.82 percent in May 2025, up from 6.73 percent the previous month and down from the May 2024 average of 7.06 percent,” said the REALTORS news release.