Illinois Real Estate Summary

The Illinois real estate market is strong in many areas, but flat in the central part of the state.  The economy remains strong overall, and there is a lower unemployment rate than in years´ past.  Even with job growth statewide, the largest part of Illinois´ relocations are to the Chicago area.

Statewide, the average Illinois home costs $170,000.  There is an even number of sellers and buyers in all price ranges.  Chicago real estate is high priced and in demand.  The average sale price of a single-family unit in the suburbs is $316,000.  The lower the price, the faster a house sells, but on average it takes 60 day.  When you get closer to the Chicago city limit, real estate in exclusive neighborhoods can cost around $500,000. 

In the southern part of the state, Edwardsville real estate is growing leaps and bounds.  Since it is a short commute to St. Louis, many people live here and enjoy lower taxes and lower home prices.  The average sale price of a home is $215,000.  New construction is growing as more people continue to move to the area and take jobs.