Cook County, IL Housing Market Update: July 2026

Key Takeaways

• Cook County home prices surged nearly 9% year over year in July—triple the national rate of 3%—as shrinking inventory fueled intense competition.
• The median sale price reached $396,338, up 8.6% year over year, while active listings fell 3% and nearly half of homes sold above asking.
• National pending sales slipped 1%, but Cook County held steady, signaling continued local buyer demand even as the broader market cooled.

Cook County, IL Housing Market Snapshot

Cook County’s housing market remained firmly tilted toward sellers in July. Prices accelerated to their strongest year-over-year gain in over two years, while inventory continued to shrink. Pending sales held flat after June’s surge, but the share of homes selling above asking rose sharply, indicating that competition intensified even as headline activity stabilized. Buyers faced fewer options and more bidding pressure than a year ago.

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

U.S. Housing Market Snapshot

Nationally, home prices rose about 3% and pending sales dipped slightly. Inventory barely moved. Cook County diverged sharply: local prices grew nearly three times as fast, supply contracted three percentage points more than the nation, and the share of homes selling above list was double the national rate. Where the national market stalled, Cook County’s continued to tighten.

“The U.S. housing market continued its slow recovery in July, but again felt some bumps in the road,” said Chen Zhao, Redfin’s head of economics research. “Both supply and demand declined for the second month in a row, propping up prices and exacerbating the slow and expensive buyer’s market that has defined the post-pandemic period. Mortgage rate and economic volatility tied to the war in Iran and an unexpectedly hot job market has added a layer of uncertainty as well. Most buyers and sellers won’t see a much improved housing market, but economists are confident that affordability and normalcy will return in the coming years.”

Cook County Prices Grew Nearly Three Times Faster Than the Nation

While national prices rose about 3%, Cook County’s median jumped nearly 9%—the widest gap in over two years. The median sale price reached $396,338 in July, an 8.6% increase from a year ago. Cook County has appreciated roughly 49% since early 2020, and the pace of growth re-accelerated sharply after moderating in early 2026. The median price per square foot climbed about 7% year over year to $259, confirming that gains reflected genuine value increases rather than a compositional shift toward larger properties.

Price reductions remained uncommon. Only 11.3% of active listings carried a price cut, and the typical home sold for 1.1% above its list price, up a full percentage point from a year ago. Sellers continued to price with confidence—and buyers continued to meet or exceed those numbers.

Pending Sales Held Steady as National Demand Cooled

Pending sales in Cook County reached 5,723 in July, essentially flat year over year, while national pending sales dipped about 1%. After June’s strong showing, buyer activity stabilized at a level consistent with last July. Homes sold also held steady year over year, and new listings increased about 2%, indicating that sellers continued to enter the market but buyers absorbed supply at a similar pace.

That steady demand left inventory tight. Active listings fell 3% year over year to 20,534, and months of supply sat at 2.8—well below the national figure of 3.9. The age of active inventory fell to 44 days from 47 a year ago, meaning stale listings represented a shrinking share. Buyers hoping for a late-summer slowdown found little relief: demand held firm while available options continued to thin.

Inventory Tightened as Listings Were Absorbed Quickly

New listings in Cook County reached 6,200 in July, growing about 2% year over year—while nationally, new listings fell about 1%. Sellers continued to list at a slightly faster pace than a year ago, pushing the monthly total above 6,000 for the fifth consecutive month. However, the influx failed to build inventory: active listings still fell 3% year over year, meaning homes were absorbed nearly as quickly as they appeared.

For sellers, the data confirmed that demand remained strong enough to absorb new supply quickly. For buyers, the 3% decline in active listings meant fewer options despite the uptick in new listings. The mismatch between steady new supply and shrinking overall inventory signaled that turnover remained brisk and that well-priced homes continued to move fast.

Upper Tiers Led Price Growth; Bottom Tier Lagged

Redfin analysis of MLS data • Rolling three-month period (April-June 2026)

The high tier and luxury tier grew fastest at 6% year over year, with nearly 60% of high-tier homes selling above list price. Luxury homes ($1.57M median) saw a dramatic acceleration in above-list activity, surging 11 percentage points to over 50%—and sales volume grew about 8%, the strongest gain of any tier. Both the luxury and high tiers sold faster, with days on market falling 2 to 7 days from a year ago.

At the bottom, prices rose about 4% but sales fell over 6%. Homes in that bracket sat for 69 days—27 more than the high tier—and fewer than a quarter sold above asking. Starter homes fell in between: prices rose about 3%, but volume dipped and above-list activity was essentially flat. The split between tiers showed a market where competition concentrated in the upper half, while buyers at lower price points retained more room to negotiate.

How Buyers and Sellers Can Navigate Cook County’s Market

If you’re buying in Cook County, plan for competition at every step. Nearly 49% of homes sold above asking in July, and that figure ran higher still in the upper tiers. Secure financing before you start touring, set a firm ceiling, and be prepared to act fast—the median home went under contract in 49 days, and the quickest-moving properties disappeared within two weeks. If competition for upper-tier homes is out of reach, the starter and bottom segments still offered more negotiating leverage.

If you’re selling, the data supported pricing with confidence. The average home sold for more than 1% above list, and only about 11% of listings required a price cut. Price accurately from day one and you’ll likely attract offers promptly. But don’t mistake broad strength for immunity—bottom-tier volume fell sharply, and overpriced homes in any bracket still risked sitting idle while correctly priced competitors moved.

Cook County, IL Market Data by City

Rolling three-month period (May-July 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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