2026 3rd Quarter Market Update

At LW Reedy, once our Realtors have sipped their first pumpkin spice latte, we know to prepare for the Fall Market, the Spring Market’s “little cousin.” 

How do we prepare for the fall real estate market? 

First, let’s set realistic expectations for both home buyers and sellers.   

Every fall we often see a similar pattern. Buyers should expect fewer listings to hit the market, and sellers should adjust their expectations for foot traffic, market-time and offers. 

Historically speaking the local fall market does see activity, however it’s a noticeable slow-down compared to spring.

New listing by month in Elmhurst over the last five years

The trend over time is that we tend to see fewer new listings hit the market in fall.

Homes under contract by month in Elmhurst over the last five years

With fewer homes listed in the fall, the result is fewer homes go under contract.

Average percent of sale price to original list price in Elmhurst over the last five years

We see a dip in the percentage of sales price to original list price.

Average sales price by month in Elmhurst over the last five years 

Ultimately, the real estate market sees a seasonal downward correction on average sales prices in the fall.

Foot traffic report

One pattern that illustrates this seasonal market correction is MRED’s “Foot-Traffic” Report. This report shows the year-long change in showing requests over the last three years. The steady drop off in showing requests from spring through the end of the year is evident.

What does all this data mean for consumers? 

BUYERS For buyers, fall can be an opportunistic time to buy a home. While the selection of homes to choose from is smaller, homebuyers will also have less competition from other buyers. Most notably, buyers may be able to negotiate in a more neutral setting compared to the busy spring market. 

SELLERS For sellers, pricing and timing becomes more critical to a successful home sale. With fewer homebuyers in the market and winter on its way, sellers might want to consider being more realistic on their listing price to attract the attention of the smaller pool of buyers. By setting the right sales price, savvy sellers can secure a purchase offer to avoid the significant slow-down we typically see in late fall and winter. 

Ultimately, these seasonal strategies are best discussed with your Realtor. So grab a pumpkin spiced latte and contact your local LW Reedy Realtor today. 

News

• Chicago median home sale price rises: Chicago Agent Magazine reports that in July 2026, the media sale price for a detached home in Chicagoland hit $450,000. 

• Chicago home prices appreciate 6.9%: Morningstar reports that Chicago-area home appreciation is the fastest in the nation. 

• Mortgage rates hold steady: Freddie Mac reports that interest rates remain virtually unchanged. 

Your local LW Reedy agent closely monitors the local real estate market and economic news affecting interest rates and sales trends. Questions about how interest rates and the real estate market impact your housing plans? Contact us today.