{"id":248235,"date":"2025-09-23T06:31:12","date_gmt":"2025-09-23T06:31:12","guid":{"rendered":"https:\/\/www.europesays.com\/us\/248235\/"},"modified":"2025-09-23T06:31:12","modified_gmt":"2025-09-23T06:31:12","slug":"home-sales-slow-year-over-year-in-chicago-suburbs","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/248235\/","title":{"rendered":"Home sales slow year over year in Chicago suburbs\u00a0"},"content":{"rendered":"<p>The pace of <a href=\"https:\/\/chicagoagentmagazine.com\/2025\/08\/20\/july-suburban-chicago\/\" target=\"_blank\" rel=\"noopener\">single-family home sales<\/a> ticked lower year over year in Chicagoland in August, despite <a href=\"https:\/\/bostonagentmagazine.com\/2025\/09\/17\/fed-september-rate-cut\/\" target=\"_blank\" rel=\"noopener\">declining interest rates<\/a>, which slid to 6.43% by the end of the month.\u00a0<\/p>\n<p>There were 2,731 detached homes sold in August, down 1.7% from 2,780 in August 2024, Mainstreet REALTORS\u00ae said. \u00a0<\/p>\n<p>Prices continued to climb, with the median-sales price rising 5% from $400,000 to $420,000, and homes took longer to sell, spending an average of 37 days on the market, up a full week from 30 days a year ago. \u00a0<\/p>\n<p>The amount of time single-family homes spent on the market was up significantly year over year, particularly in certain suburbs, such as Vernon Hills (908.3%), Summit (716.7%), Chicago Heights (488.9%), Lansing (444.4%), Indian Head Park (633.3%), Burnham (363.6%), Mt. Prospect (331.3%), Berkeley (416.7%), Chicago Ridge (414.3%), South Chicago Heights (209.5%), Wheeling (200.0%) and Wadsworth\u2013Old Mill Creek (154.2%).\u00a0<\/p>\n<p>\u201cAugust often brings a natural slowdown in the market as families shift their focus to back-to-school,\u201d Mainstreet REALTORS\u00ae President Kinga Korpacz said. \u201cOnce school is underway, many buyers return to their search with fresh energy. That seasonal slowdown creates an opening: Homes are sitting longer, competition eases and buyers have more room to negotiate, especially as interest rates trend downward.\u201d\u00a0<\/p>\n<p>The attached home market saw similar patterns. Sales of homes in multi-unit buildings fell 5.6% year-over-year, from 1,396 in August 2024 to 1,317 homes last month. Prices rose 5.7% from $265,000 to $280,000.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"The pace of single-family home sales ticked lower year over year in Chicagoland in August, despite declining interest&hellip;\n","protected":false},"author":3,"featured_media":161878,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5124],"tags":[93680,960,59697,93685,93686,42762,5386,1818,131821,93688,14603,17506,131822],"class_list":{"0":"post-248235","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-chicago","8":"tag-attached-home-sales","9":"tag-chicago","10":"tag-chicagoland-real-estate","11":"tag-days-on-market","12":"tag-detached-home-sales","13":"tag-home-sales","14":"tag-il","15":"tag-illinois","16":"tag-kinga-korpacz","17":"tag-mainstreet-realtors","18":"tag-median-sales-price","19":"tag-sc","20":"tag-suburban-real-estate"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115252211447785539","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/248235","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=248235"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/248235\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/161878"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=248235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=248235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=248235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}