The Chicago real estate market continues to cool as we approach the end of 2025, and the latest weekly data shows a clear shift in both buyer and seller behavior. For the week ending November 21, 2025, new listings dropped sharply, pending sales continued their decline, and days on market rose across many Chicago counties. Whether you’re planning to buy, sell, or invest, understanding these trends can help you make smarter decisions.
This week’s update covers Cook, DuPage, Lake, and Will Counties, summarizing what changed, why it matters, and how you can use the data to your advantage.
Inventory Tightens as New Listings Decline
Across most Chicago-area counties, the number of homes for sale continues to shrink. According to the data in the report:
- Single-family new listings dropped as much as 20.6% in Cook and 21.6% in Will County.
- Condo listings declined by nearly 20% in Cook and 37% in Lake County.
- Active inventory fell in Cook, DuPage, and Lake for single-family homes.
The only exception is Will County, which showed a 17.1% increase in active single-family inventory, a sign of local shifts or catch-ups from earlier shortages.
If you’re a seller in Cook, Lake, or DuPage County, you’re competing with fewer listings, giving your home more visibility. Buyers, however, may find fewer options and more competition in certain neighborhoods.
Sellers can benefit from a professional appraisal to understand how current pricing trends impact their latest market value.
Pending Sales Drop as Buyers Hesitate
Demand softened significantly:
- Single-family pending sales fell 20–36% year-over-year.
- Condo pending sales dropped as much as 52% in some submarkets.
Buyer hesitation reflects persistent affordability concerns and cautious sentiment due to mortgage rates and economic uncertainty.
- If you’re a buyer, slower sales mean negotiation power.
- If you’re a seller, expect longer timelines and be strategic with pricing.
Mortgage & Federal Reserve Impact
- 30-year fixed mortgage rate: 6.26% (down 8.5% YoY)
- Effective federal funds rate: 3.88%
While rates are lower than last year, they remain high enough to cool buyer activity. This aligns with the slower transaction volume and longer days on market. Current rate trends can be tracked through the Freddie Mac PMMS and Federal Reserve rate updates.
Pricing Trends: Softening but Strategic
Price behavior is mixed:
- Single-family median list prices fell 1–4.5% across all counties.
- Condos saw more price stability, with DuPage and Lake showing YoY gains in median list and absorbed prices.
Many submarkets also had higher percentages of price reductions, indicating active price negotiations.
- Buyers may find more room to negotiate.
- Sellers should price competitively from the start to avoid unnecessary reductions.
Homes Take Longer to Sell
Days on market is a clear indicator of market speed:
- Single-family DOM increased by 12–33% in Cook, Lake, and Will.
- Condos showed similar patterns, with many counties seeing 20% increases.
As shown in the Market Health tables, the slower pace reflects cautious buyers and the need for competitive pricing.
- Buyers → More negotiation power, slower pace, better value opportunities.
- Sellers → Less competition in some counties but must price strategically.
- Investors → A cooling market may present buying opportunities, especially where inventory is rising (e.g., Will County).
The Market Wrap-Up
The Week 47 Chicago real estate update reveals a market adjusting to interest rates, shifting consumer confidence, and evolving supply-and-demand dynamics. Well-priced, move-in–ready homes continue to attract attention, but buyers are taking their time, making data-driven strategies essential for both sides of the transaction.
To understand how these trends affect your plans, request an appraisal or get your home’s valuation to see your standing in the current market.