Cook County, IL Housing Market Update: August 2026

Key Takeaways

• Cook County home prices rose 5.1% year over year in August—more than double the national rate of 2.2%—while active listings fell nearly 4%, keeping competition firmly in sellers’ favor.
• The median sale price reached $383,716, and over 43% of homes sold above asking, compared to just 24% nationally—a sign that bidding wars remain common in the Chicago metro area.
• Pending sales climbed 2.2% locally even as national pending sales fell 1.3%, indicating that Cook County buyer demand remained resilient heading into fall.

Cook County, IL Housing Market Snapshot

Cook County’s housing market continued to favor sellers in August, though price growth moderated from July’s torrid 8.6% pace to a still-strong 5.1% year over year. Inventory shrank for a second consecutive month, falling 3.6%, while pending sales edged higher. The typical home sold in 51 days and the share of homes selling above list remained nearly double the national rate. Even as the broader U.S. market softened, local demand showed few signs of weakening.

Learn everything you need to know about the Cook County, IL housing market as we head into fall, and what buyers and sellers can do to succeed.

U.S. Housing Market Snapshot

Nationally, home prices rose about 2% and pending sales fell about 1%. Inventory expanded about 3%, a stark contrast to Cook County’s 3.6% decline. The county’s about 43% above-list rate was nearly double the national figure of about 24%, and its about 3 months of supply remained well below the national figure of about 4. Where the national market loosened modestly, Cook County continued to tighten.

“The U.S. housing market faced some hurdles in August, as inflation and an AI-fueled economy kept mortgage rates high and weighed heavily on homebuyers, sellers, and investors,” said Chen Zhao, Redfin’s head of economics research. “Until recently, affordability and activity had been slowly improving for months, helping the market recover. But now, economic uncertainty and rising prices are keeping more people on the sidelines and slowing the market further. For buyers who need to buy, now is a great time because there’s less competition and a bit more inventory—for sellers, pricing competitively is key to attract attention.”

Cook County Prices Outpaced the Nation by More Than Two to One

Cook County’s median sale price rose 5.1% year over year to $383,716, while the national median gained just 2%. After surging 8.6% in July, price growth decelerated but remained well above the U.S. rate. The median price per square foot climbed 4.7% to $254, confirming that gains were driven by genuine appreciation rather than a shift toward larger properties. Cook County homes have appreciated roughly 50% since early 2020.

Price reductions remained scarce. Only 12.7% of active listings carried a price cut, and the typical home sold for 0.3% above its list price. The sale-to-list ratio rose 0.6 percentage points from a year ago, reinforcing that sellers continued to hold pricing power across most of the market.

Buyer Demand Held Firm While the National Market Retreated

Pending sales in Cook County reached 5,252 in August, up 2.2% year over year, while national pending sales fell about 1%. Local buyer activity strengthened even as the broader market lost momentum. Homes sold dipped 3.6%, but that reflected tighter supply rather than weaker interest—there were simply fewer homes available to transact.

Active listings fell 3.6% year over year to 19,578, and months of supply sat at 3.0—below the national figure of about 4. The typical home went under contract in 51 days, one day faster than last year. Buyers hoping for a late-summer cooldown found the market largely unchanged: demand remained solid while the pool of available homes continued to contract.

New Listings Ticked Up but Failed to Build Inventory

New listings in Cook County rose 1.5% year over year to 5,501, even as national new listings rose about 4%. Sellers entered the market at a modestly faster pace, but the increase did nothing to relieve inventory pressure. Active listings still declined 3.6%, meaning homes were absorbed nearly as quickly as they appeared.

For sellers, the data confirmed that demand remained strong enough to absorb new supply promptly. For buyers, the 3.6% decline in active listings meant fewer options despite the uptick in new listings. The mismatch between modest supply growth and shrinking overall inventory signaled that well-priced homes continued to move fast, especially in the upper tiers.

Upper Tiers Led Price Growth and Competition

Redfin analysis of MLS data • Rolling three-month period (May-July 2026)

The luxury and high tiers each rose 7.1% year over year, with luxury home sales surging 14.5% and above-list activity jumping over 11 percentage points to 50%. High-tier homes were the most competitive: nearly 60% sold above asking, and days on market fell to just 42. Both upper segments moved faster than a year ago, with DOM declining 3 to 8 days.

Starter homes rose 3.4% but saw volume slip 1.5%, with above-list activity essentially flat at 41%. Bottom-tier prices jumped 7.1%, though sales declined 3% and homes sat for 69 days—27 more than the high tier. The gap between tiers widened: competition concentrated in the upper half, while lower-priced buyers retained more room to negotiate.

How Buyers and Sellers Can Navigate Cook County’s Market

If you’re buying in Cook County, prepare for competition. Over 43% of homes sold above asking in August, and that share ran higher in the upper tiers. Get fully pre-approved before touring, set a hard ceiling, and be ready to move fast—the median home went under contract in 51 days, but the most desirable properties moved far quicker. If upper-tier bidding wars are out of reach, the starter and bottom segments still offer more leverage.

If you’re selling, the data supports pricing with confidence. The average home sold above list price, and only 12.7% of listings required a price cut. Price accurately from day one and you’ll likely attract offers quickly. But be realistic—bottom-tier sales volume fell, and overpriced homes in any bracket still risk stagnating while well-priced competitors move.

Cook County, IL Market Data by City

Rolling three-month period (June-August 2026). Cities with 50+ sales shown.

This article has been generated, in whole or in part, using generative artificial intelligence (AI) technology, with input from Redfin head of economics research Chen Zhao. While efforts have been made to ensure the accuracy and reliability of this information, you should independently verify all data, facts, and citations contained in this article before relying on it for any purpose. This information is not a substitute for advice from a real estate agent, financial advisor, or other licensed professional. County-level data is not seasonally adjusted. Check the Redfin Data Center for additional in-depth housing market data.

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