Despite slow start, Chicagoland homebuying season expected to escalate


Due to a long winter, Chicagoland’s “spring market” had a delayed start this year. Detached single-family home sales decreased 5.3 percent in April over the same month last year according to data collected and visualized by MORe. But the number of detached homes that went under contract increased 8.5 percent over April of last year, indicating the market is picking up.

MORe Board of Directors President Michael Gobber said the average time between a house going under contract and closing is around 45 days, so buyers should expect to see an increase in home sales in the coming months.

“Usually the ‘spring market’ in Chicagoland ends in May, but this year, it’s just starting,” Gobber said. “Buyers should keep in mind that the buying season will likely last through June or July. They should start hunting for homes if they haven’t already, especially if they want to close on a home in time to move in right after the school year ends in June.”

Some of the area communities that experienced an increase in the number of homes under contract include:

  • Addison (83.3 percent increase in number of homes under contract)
  • Antioch (51.4%)
  • Calumet City (72.0%)
  • Dolton (45.5%)
  • Elk Grove Village (38.7%)
  • Evergreen Park (43.3%)
  • Green Oaks-Libertyville (32.4%)
  • Maywood (41.4%)
  • Oswego (40.7%)
  • Park Forest (57.7%)
  • Vernon Hills (54.6%)
  • Wauconda (58.8%)
  • West Chicago (41.7%)
  • Western Springs (39.1%)

Remind homebuyers: Despite increases in these areas, every neighborhood is different. Work with your clients to help them better understand how these trends may impact their home searches.


Watch the April Market Minute(s) below for additional market details for the Chicagoland area.