Real estate trends in Illinois | Sellers | Buyers | Investors | The best and worst of Illinois | Illinois resources
Illinois real estate trends (May 2022)
From the shores of the Great Lakes to the flat fields of corn and soybeans, Illinois offers a classic Midwestern landscape. The Prairie State also has some serious range, from small towns and rural farmland to the sprawling metropolis of Chicago and its surrounding suburbs.
Visitors and residents alike can explore the state's impressive 309 state parks, energetic sports culture, and world-class cultural events.
If you're thinking of buying or selling in Illinois, these Illinois housing predictions and stats can help you make an informed decision.
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Selling a home in Illinois
| Illinois real estate market forecast for sellers | |
|---|---|
| ⏰ Homes are selling 9 days slower than the annual average | 💰 Homes are selling for $289 less than the annual average |
| 💸 Average listing commission: 2.68% | 💸 Average buyer's commission: 2.56% |
How to sell a home in Illinois
- The Best Low Commission Real Estate Brokers
- Top Real Estate Agents in Illinois (June 2021 Rankings)
- 8 Steps to Selling a House in Illinois
- How to Sell a House By Owner in Illinois (2021 Update)
- 5 Best Illinois Flat-Fee MLS Companies in 2021
- 5 Illinois We Buy Houses for Cash Companies & Alternatives (2021 Rankings)
Cost to sell a home in Illinois
- What's The Average Illinois Real Estate Commission In 2021?
- Illinois Seller Closing Costs in 2021: How Much Will You Pay?
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Buying a home in Illinois
| How much home you can buy with $300,000 in... | |
|---|---|
| 🏠 Chicago: 1,554 sq ft | 🏡 Rockford: 2,885 sq ft |
| 🏡 Springfield: 1,408 sq ft | 🏠 Peoria: 3,488 sq ft |
- How to Save with a Home Buyer Rebate
- 8 Definitive Steps to Buying a House in Illinois
- The Best Time to Buy a House in Illinois
- The Ultimate Guide for Moving to Illinois
Investing in Illinois real estate
- Top 5 Best Real Estate Investment Markets in Illinois
- The Ultimate Guide to Flipping Houses in Illinois
- A Beginner's Guide to Buying an Apartment Building
Best of Illinois
💡 Did you know…
The Clever Data Center ranked Chicago among the top 10 best brunch cities in the country?
Chicago offers classic breakfast fare along with more unique dishes for adventurous diners. Windy City residents can enjoy an affordable brunch, with the average meal coming in at just $13.61 compared to the national average of $14.71 per plate.
» Hungry for more info? 🍳 Read our full study here: The Best Brunch Cities in America
Each month, we compare locations in Illinois based on different criteria. This month, we're looking at levels of happiness and ranking the best counties in the state.
| Happiest Counties in Illinois |
|---|
| 1. DuPage County |
| 2. Will County |
| 3. Lake County |
| 4. McHenry County |
| 5. Grundy County |
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Worst of Illinois
Each month, we compare locations in Illinois based on a different criteria. This month we're looking at levels of happiness data. These are the counties that ranked the worst in the state.
| Least Happy Counties in Illinois |
|---|
| 1. Alexander County |
| 2. Franklin County |
| 3. Pulaski County |
| 4. Saline County |
| 5. Lawrence County |
Illinois resources
- Illinois Division of Real Estate (DRE)
- Illinois's real estate license verification
- Illinois's real estate agent code of conduct
- Illinois's disclosure forms
- Transfer taxes in Illinois
- Home buying assistance programs in Illinois
If you're weighing your options for buying or selling a house, Clever can help!
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Frequently asked questions about Illinois real estate
Is it a buyer's or seller's market in Illinois?
Currently, it is a seller’s market in Illinois. Properties are selling quickly and are being sold for more than asking. However, it’s still best to consult with a local real estate agent before making any decision, as each city and town is different and has its own trends.
Is Illinois a good state to invest in real estate?
Yes, Illinois is a good state to invest in, especially in bigger cities like Chicago. But if you want to maximize your investment, you will need to find the best neighborhood to buy in and come up with a property management plan. To learn more, read our real estate investing guide.
Is it a good time to buy a house in Illinois?
Now is not the best time to purchase a house in Illinois as listing prices are high and there are few properties on the market. If you’re still planning on buying a home, then you’ll need to work with a top real estate agent to help you land a decent deal.