Illinois home sales declined by 3.4% in April compared to last year, but median prices rose 6.2% to $310,000. Inventory also edged up 4.2%.
The Chicago Metro Area saw similar trends with a 4.2% sales dip and a 5.7% price jump to $370,000. In the city of Chicago, sales dropped 6.1% while prices surged 8% to $399,000.
Experts say buyers are still active for well-priced homes, but affordability and inventory remain concerns. A modest sales increase is forecast for the summer, but broader economic uncertainty may keep prices relatively flat.
