Naperville leads February home sales in suburban Chicago

Suburban Chicago’s housing market saw a slowdown in February, but one city stood out from the rest. Naperville led the region in detached home sales, recording 63 sales for the month, a 16.7% increase compared to last year, according to Mainstreet REALTORS®.

Across the broader suburban market, activity declined year over year. Detached home sales dropped nearly 10%, falling to 1,445 transactions from 1,596 the previous February. Attached home sales also dipped, down 7% to 802 transactions, reflecting a quieter pace in overall market activity.

Despite fewer sales, home prices continued to rise. The median price reached $390,000 for detached homes and $270,000 for attached properties, showing that demand remains strong even as inventory remains limited. At the same time, homes are taking slightly longer to sell, with detached properties averaging 63 days on the market, up from 59 days last year, and attached homes averaging 60 days, up from 53 days.

Pending sales offered a more mixed signal. Homes going under contract increased 2% for detached homes and 4.1% for attached homes, suggesting that buyer activity is still present heading into the spring market, even as closed sales slow.

Other suburbs also showed notable gains in detached home sales, including Aurora and Downers Grove, which followed Naperville in total sales. Several communities posted strong year-over-year increases, including Des Plaines, Elmhurst and Lombard.

Inventory continues to be one of the biggest challenges in the market. “We are still experiencing a severe inventory shortage, and there are no quick fixes,” said Kinga Korpacz, president of Mainstreet REALTORS®. “My message remains consistent: Buy now, don’t wait. Rents are going up, home prices are going up, but if you buy now, even if it’s not the home of your dreams, you can begin building equity.”

For buyers and sellers watching suburban Chicago real estate trends, the latest data highlights a familiar pattern. Even as sales slow, limited inventory and steady demand continue to push prices higher, keeping the market competitive as the spring season begins.

Stay Connected

Ranked among the top 1% of real estate teams in the Chicagoland market, Cory Tanzer and the Cory Tanzer Group are experts in helping buyers and sellers navigate today’s market across Downtown Chicago, the North Shore, and the Western Suburbs. Recognized for their neighborhood expertise in areas such as University Village, University Commons, South Loop, and Pilsen, the team helps clients stay one step ahead by understanding where the Chicago market is headed next.