Even though suburban home sales were down in August, REALTORS® anticipate more summer sales closing as fall emerges. There were 2,672 detached homes that sold last month, a 4.1% decline from the same month last year when 2,787 sold. However detached homes under contract went up 5.3%. There were 2,572 detached homes under contract in August 2025 compared to 2,707 last month. "A lot of families want to get under contract before the start of the school year, because for some districts that's enough for children to be able to start school," said Kinga Korpacz, immediate past president of Mainstreet REALTORS®. "And then they will delay their closings for 30 to 60 days." Because of this, Korpacz anticipates an increase in sales in September and October. Timelines aside, prices rose once again in August. Detached homes went for a median price of $450,000, up from $420,000 in August 2025. Median prices are up 5.1% year to date. The attached market saw sales decrease nearly 10% year over year. There were 1,214 attached homes sold in August 2026 versus 1,344 in August 2025. Attached homes under contract held steady with 1,361 in August 2026 compared to 1,365 in August 2025. Median prices for these homes were up $10,000 August over August, coming in at $290,000 last month. "Right now is a great time for individuals or families without children to jump into the market, since the start of school is not a barrier to entry. Early fall is also ripe for investors," said John Gormley, CEO of Mainstreet REALTORS®. "You can work with a Mainstreet REALTOR® who can help you build a strategy and possibly even find a deal if your timing is right." While most suburban Chicagoland communities have seen prices climb this year some have actually seen prices fall, making these areas good targets for buyers who are concerned about affordability. Notable year-to-date (January through August 2026) median sale price decreases for detached homes included: Robbins (median sale price decreased 33.7%) Willow Springs (-23.8%) Medinah (-11.8%) Riverdale (-10.5%) Calumet City (-9.1%) Harvey (-9.1%) Lagrange Highlands (-8.8%) Prospect Heights (-7.9%) Olympia Fields (-7.0%) Antioch (-6.7%) The market may be less competitive as the summer rush winds down and we head into fall. For REALTORS®, now is a great time to touch base with buyers who are not tied to the school year calendar. For those with more flexibility, there could be real opportunities to find the right home at the right price.
Mainstreet REALTORS® Global community put their collective minds together to facilitate a conversation about buying or selling as international transactions surge in US and Mexico markets. Watch the webinar above to hear from panelists who have experience with buyers and sellers in Mexico. Panelists: Ramona Ruskuls, Mainstreet REALTORS Violeta Saucedo, eXp Realty Chicago Erika Villegas, RE/MAX The Village Spencer Hoo, Hoo Global Consulting Rosa Bueno, United Real Estate Chicago
The median sale price for detached homes rose 7% in the Chicagoland suburbs last month as compared to the same timeframe in 2025. At the same time, the number of homes sold and under contract held relatively steady, indicating price pressure is not slowing the market down as some expected. “Buyers have come around to the fact that prices and interest rates are not going to come down any time soon,” said Kinga Korpacz, President of Mainstreet REALTORS®. “In July, we saw that they’re still willing to get in the game, despite the fact that buying a home continues to get more expensive.” The median sale price for a detached home in Chicagoland was $420,000 in July 2025. In July 2026, it reached $450,000. These local trends are consistent with national data from the National Association of REALTORS®, which show year-over-year increases in housing prices across the country. However, today’s market isn’t all bad news for buyers. “We are seeing smart buyers with REALTORS® by their side finding ways to get an advantage in this market,” explained Korpacz. “When a buyer works with a REALTOR® who can help them understand hyperlocal market data, they can come in and make a very strategic offer. This is the case even for a home they feel they might be priced out of affording and they can still win at a price they feel good about.” Even as prices continue to rise, buyers are making fewer concessions, as well. “Gone are the days of having to waive an inspection just to compete,” Korpacz said. In recent months, pricing has not been the only thing holding buyers back. The start of the year was marked by extremely low housing supply in Chicagoland. In January and February, data from MRED showed just 1.7 months worth of housing supply in the Chicagoland PMSA, meaning it would take just 1.7 months to sell through all available home listings. However, that number began to climb back up in May and in July 2026 reached 2 months of housing supply. “If you’ve been sitting out of the housing market due to low supply or rising prices, now is the time to jump back in,” said John Gormley, CEO of Mainstreet REALTORS®. "Price increases seem to be here to stay so buying a home will likely get more expensive if you wait, not less. And now, we’re seeing that buyers are also finding more houses that meet their requirements, which gives them more power, especially if they have a Mainstreet REALTOR® by their side.” While most suburban Chicagoland communities saw prices increase in July 2026, some actually saw prices fall, making these areas good targets for buyers who are concerned about affordability. Notable year-over-year median sale price decreases for detached homes included: Justice (median sale price decreased -30.0%) Winthrop Harbor (-19.7%) Oak Brook (-19.2%) Elmhurst (-16.8%) Richton Park (-16.5%) Burr Ridge (-16.4%) Palos Park (-15.5%) Markham (-14.1%) Hickory Hills (-13.2%) Bridgeview (-13.0%). In a market like this one, Mainstreet REALTORS® can be especially valuable to their clients by keeping their fingers on the pulse of hyperlocal market data. Tools like Infosparks, which is available to all Mainstreet REALTORS® directly on the Mainstreet website, are a good place to start.
Ask almost any REALTOR® across Chicagoland what their clients are struggling with today and you’ll likely hear that same two words: affordability and inventory.
Mainstreet HQ, Downers Grove – Our signature event, Propel, is an annual summer staple featuring keynote speakers and panelists from far and wide who bring their subject matter expertise and real-world business solutions to attendees. Its “must-see” vibes are unmatched in a room full of industry experts and cutting-edge content. The real estate business is changing faster than ever. AI, consumer expectations, marketing and technology are evolving rapidly, making ongoing education a necessary competitive advantage. Consumers increasingly expect agents to be tech savvy. Research shows how buyers and sellers evaluate an agent's digital presence, marketing, responsiveness and use of technology. For a look at the NAR Technology Survey, click here. Low inventory means agents need better strategies to find listings and buyers. Welcome to Mainstreet’s Signature Event, Propel. Our sessions feature nationally recognized titans of industry and localized top-producing REALTORS® sharing what's working right now. A.I. is no longer optional. Social media continues to influence consumer decisions. Research shows how consumers select real estate professionals online based on personalized brand recognition. Technology helps REALTORS® save time, not replace relationships. At Propel, attendees learn how to use practical tools with immediate implementation. Study successful local REALTORS® as they provide concrete ideas that can be applied in the Chicagoland market. MRED is agile and future-focused, as they continue to introduce new tools and enhancements. As an attendee for Propel, you will receive updates and tips to maximize resources they already have access to. Additionally, a professional headshot is an investment in an agent's brand. An up-to-date headshot offers a clear view into a trustworthy agent’s profile, building credibility and trust. Consumers love to know who they are going to be working with and what an agent looks like before agreeing to any marketing or showings. Call it curb appeal, if you will. Networking always has and always will matter. Connecting with hundreds of productive REALTORS®, brokers, affiliates and technology partners can be accomplished in one afternoon at Propel. Your continued education provides ROI. Propel positions you for implementation, not theory. Expect actionable takeaways to be used ASAP. Click here to visit Propel 2026 Registration Page to purchase a table for 10 or a single ticket!
Chicagoland's suburban housing market showed continued resilience in April, even as sales stagnated compared to a year ago.
Mainstreet HQ, Downers Grove – Mainstreet is dedicated to making things easy for our members. After reviewing member feedback, we have made several improvements to the Forms and Contracts library to simplify and streamline your access. There are three different updates: 1. Log in to MyMainstreet and look for the green Forms and Contracts Icon, located in my tools across the top of the page. 2. Secondly, on the left side of the member portal, the purple vertical column of clickable resources says, “member resources.” Once here, look for the “forms” tab listed along the top of the dropdown menu choices. 3. Lastly, if you know which form you are looking for, instead of using member resources, navigate to the member portal page and in the same purple vertical column, look for “forms and documents.” Here you can search for the form you need by keyword. The above video details these changes, step by step. Click play to watch our tutorial video, brought to you by the Professional Standards staff at Mainstreet REALTORS®. Do you want access to our industry-leading forms and contracts library?
Mainstreet REALTORS® was honored to be a proud sponsor of Polonia Impact Day in Springfield on April 29 —an impactful day dedicated to celebrating and elevating the voice of the Polish American community across Illinois. We are especially proud that our 2025–2026 President, Kinga Korpacz, attended this important event as the first Polish President in Mainstreet’s history . Her presence reflects not only a personal milestone but also the growing diversity, leadership and cultural representation within our organization and the real estate industry as a whole. Polonia Impact Day brought together leaders, advocates and community members to engage directly with legislators, celebrate heritage and strengthen relationships that shape the future of our communities. The event featured special proclamations recognizing the contributions of Polish Americans, including efforts led by Senator Robert Martwick and presentations by Senate President Don Harmon, alongside support from Omar Aquino and Laura Murphy. Treasurer Michael Frerichs and his team also welcomed all participants to the Capitol, helping create a memorable and meaningful experience for all in attendance. Events like Polonia Impact Day highlight the importance of advocacy, cultural pride and community engagement—values that strongly align with Mainstreet REALTORS®’ mission. As REALTORS®, we know that building strong communities goes beyond real estate—it means showing up, supporting one another and having a voice in the decisions that impact housing and homeownership. We are proud to stand alongside the Polish American community and look forward to continuing to support initiatives that bring people together and make a lasting impact.
Mainstreet HQ, Downers Grove – Mainstreet’s Economic Outlook 2026 presented forecasts for the U.S. economy and possible Illinois housing market trends. That was in January. Halfway through the year, you need an update. Mainstreet has the data call you will want to hear for the second half of 2026. Listen in as NAR Chief Economist Dr. Lawrence Yun provides insights and advice about the back half of 2026. The Mid-Year Economic Update is a Mainstreet webinar focused on economic signals for the second part of 2026. Here is what Illinois voters think about the economy: - 81% Say Housing in Illinois is Unaffordable; - 65% Support Allowing Modest Duplexes on Larger Residential Lots; - 59% Bipartisan Support for Housing Affordability as a Top Priority; - 33% Have Had to Cut Back on Daily Essentials to Afford Housing. Using the information above, it is fair to say affordable housing and inventory are hot button issues in the world of economic headlines and topics. Specifically in Illinois where the supply crisis is squeezing middle class families out of the market altogether. For example, according to Illinois REALTORS® research, “Illinois would need to TRIPLE new home construction for 5 years in a row just to meet the current demand.” – Excerpt from IR Unlocking Our Housing Plan 2026. Now hear what Dr. Lawrence Yun has to say! The update coming from Dr. Yun, Chief Economist at NAR will provide critical information about what buyers and sellers have been doing so far in 2026. Knowing what your clients want based on buyer and seller behaviors gives you an advantage over other agents who are a day late and a dollar short. A one-hour webinar is a small price to pay for an increase in Q3 and Q4 sales volume. Click here to register today for the Mid-Year Economic Update.
Spring arrived in Chicagoland suburbs and so did homebuyers.
