Chicago Home Sellers Are Still Winning. The Q3 Numbers Prove It

Forget everything you’ve heard about the housing market.
The new Q3 numbers tell a very different story, especially for Chicago home sellers.

Let’s break it down in plain language.

Sellers Are Still Making Real Money

Nationwide, homeowners are still doing well.
The typical seller made about 49.9 percent profit in Q3. That’s roughly $123,100 in real dollars.

Yes, that’s lower than the massive peak we saw in 2024. But it’s actually higher than last quarter, and far above pre-2020 levels when average seller profits hovered closer to 30 percent.

The takeaway?
The market cooled, but it did not collapse.

Home Prices Are Still Rising

Another big headline you may have missed.
Home values are not falling.

The national median home price hit $370,000 in Q3. That’s up from last quarter and up from last year. Even though profit margins have normalized from their pandemic highs, prices continue to move upward.

That matters a lot if you’re thinking about selling.

Not All Markets Are Equal

Here’s where the story gets interesting.
While many metro areas saw profit margins drop, others actually gained.

Florida experienced some of the biggest declines.
Utah, Mississippi, South Carolina, and Ohio posted some of the strongest gains.

Even large cities showed a split.
San Jose, Seattle, Buffalo, Rochester, and Hartford came out on top.
New Orleans, San Antonio, Houston, Austin, and Dallas landed near the bottom.

And then there’s Chicago.

Chicago Is One of the Standout Markets

Chicago ranked near the top for profit growth this year.
Seller profits here jumped about 13 percent year over year.

That tells us something important.
Demand in Chicago is still strong, even as other major cities cool off.

This is exactly why national headlines can be misleading. They don’t reflect what’s actually happening on the ground in Chicago neighborhoods.

Cash Sales Are Rising Fast

Nearly 39 percent of all homes sold in Q3 were all-cash.
That’s not a coincidence.

More than 40 percent of homeowners nationwide now own their homes free and clear. No mortgage at all.
In the Chicago area, that number is around 36 percent.

When someone sells a home they fully own, they walk away with real money. Often enough to buy their next home in cash.

That’s why we’re seeing more cash offers.
It helps buyers avoid high interest rates, move faster, and win in competitive situations.

Homeowners Are Staying Put Longer

Another major shift.
The average seller owned their home for 8.39 years, the longest stretch in at least 25 years.

Low mortgage rates from past years are keeping people in place. But when they do sell, they often have substantial equity built up.

That equity changes everything.

So What Does This Mean for Chicago Sellers?

Profits are strong.
Prices are rising.
Momentum is uneven.

And your local market matters more than ever.

If you want to understand what’s really happening in your Chicago neighborhood, national headlines won’t help you. A local expert will.

Thinking About Selling in Chicago?

If you’re even considering selling in 2025, now is the time to understand what your home could realistically sell for in today’s market.

📲 Call or text me at 773-719-0989 for a local, data-driven home value and a clear selling strategy tailored to your neighborhood.

What part of this update surprised you the most?