Inman Market View: How the Chicago Suburbs Are Performing This Summer

With median home prices fluctuating and inventory levels beginning to show signs of movement, real estate professionals in the Chicago suburbs are keeping a close eye on the numbers. This month’s Inman Market View takes a deep dive into the market dynamics across key suburban areas including Naperville, Orland Park, Homewood, and Tinley Park — offering insights for agents, buyers, and sellers navigating the summer selling season.

🔍 Inventory Is Loosening, But Still Tight

In many Chicago suburbs, inventory levels have started to rise modestly compared to earlier this spring, but they remain below pre-pandemic norms.

• Naperville saw a 12% increase in new listings in June, offering more breathing room for frustrated buyers.

• Tinley Park inventory rose by just 3%, keeping the market tight and competitive.

“Buyers are still out there, but they’re more cautious, They’re watching interest rates closely and waiting for more choices before jumping in.”

📉 Prices Are Leveling Off in Some Suburbs

While home prices have remained relatively strong across most of the Chicago suburbs, there are early signs of price stabilization in mid-tier markets.

• Homewood’s median sale price held flat month-over-month at $267,000, after rising 8% year-over-year.

• In Orland Park, prices dipped slightly — down 1.4% from the previous month — signaling potential negotiating room for buyers.

Suburbs with stronger school districts and walkability, like La Grange and Oak Park, continue to command top dollar despite broader market cooling.

🏦 Interest Rates Down Slightly, But Caution Persists

Mortgage rates in the Chicago area tracked the national average, hovering around 6.67% at the end of June. While lower than the 7% peak earlier this year, the drop has not yet triggered a major demand surge.

“Lower rates help, but buyer psychology has changed,” says Homewood-based broker Mayia Lysenko. “They’re more focused on value, neighborhood stability, and long-term investment potential than rushing to buy.”

🛠️ Sellers Must Adapt: Presentation Matters

With homes taking slightly longer to sell — average days on market now sits at 28 in the southwest suburbs — sellers are advised to invest in strategic repairs, staging, and professional marketing to stand out.

Listings with professional photos and video walkthroughs are selling 23% faster on average than those without, according to local MLS data.

📍 Chicago Suburbs Snapshot: June 2025

Suburb	Median Price	MoM Change	Inventory YoY	Avg. Days on Market
Naperville	$561,000	+0.8%	+12%	21 days
Tinley Park	$347,500	+0.3%	+3%	27 days
Homewood	$267,000	0.0%	+9%	29 days
Orland Park	$412,000	-1.4%	+5%	26 days

🔮 Outlook: Steady, Not Stagnant

Economists and local agents alike expect the Chicago suburban market to remain steady through the end of summer, especially if mortgage rates continue to trend downward and more listings come online.

“This is a great time for move-up buyers,” Lysenko adds. “If you have equity and flexibility, you have real negotiating power in today’s market.”