Illinois started 2024 with a total of 11,038 single-family homes on the market, with a median home price of $289,000 and an average price per square foot of $176.13. By the end of the year, inventory had increased to 12,607 homes on the market (+14%), with a median home price of $285,000 (-1%), and an average price per square foot of $178 (+1%).
At the start of 2024, the median days on market (DOM) was 70 days – by the end of the year, median DOM had decreased to 63 days.
Illinois started the year with 29.43% of homes taking a price cut. (For reference, 35% is the national average for price reductions in a "normal" year.) By the end of the year, about 33.16% of homes for sale had taken a price cut.
