Chicago’s median home sale price reached $370,000 last month, a 7.2% increase from 2024, according to the latest report from the Chicago Association of Realtors.

The number of homes available to buy in Chicago continues to be tight, with inventory in October declining 21.5% year over year. After a competitive spring season, buyers are fatigued, according to Mike Opyd, broker at RE/MAX Premier.

But as the holidays approach, Opyd said homebuyers should keep an eye out for deals.

“A lot of times during the winter months, around Christmas and January, it’s really when you get the best deals,” Opyd said. “And it’s mainly because sellers [aren’t] testing the market. They’re really kind of in that, ‘We got to sell; we’re willing to negotiate’ mentality.”

Lutalo McGee, president of the Chicago

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