09/02/2026
🏠 CHICAGO MARKET UPDATE: It’s not a crash, but it’s definitely not the pandemic-era housing market anymore.
We’re still hearing from homeowners who have extremely high expectations for what their property should sell for, particularly when the home needs repairs or updating.
So here’s a little reality check on where the market actually is heading into fall 2026:
RATES are high. Sales are dropping. Prices are dropping.
📉 **Midwest pending home sales dropped 4.3% compared with last year.**
💰 Mortgage rates finished August around **6.66%**, which has dramatically changed what the average buyer can afford each month.
✂️ Nearly **1 in 5 Midwest listings had a price reduction in August.**
And here in Chicago, the picture is a little more complicated.
Inventory is still relatively tight, and Chicago home values have held up better than many markets.
**But that does NOT mean every house will sell for top dollar.**
The homes getting the strongest prices tend to be remodeled, correctly priced, well marketed and ready for a traditional buyer.
A dated or distressed property is competing in a very different market. And those that in areas with a lot of inventory are sitting on the market for MONTHS.
When we make a cash offer, we're accounting for:
• Repairs and renovations
• Property taxes, insurance and utilities while we own it
• Financing and holding costs
• Realtor commissions and resale costs (the ones we pay, not you)
• The risk of what the market looks like months from now when the renovation is finished (especially given the trend is down)
That's why an investor's **as-is cash price is not the same as the potential retail price of a renovated home.**
We absolutely understand wanting to get as much as possible for your property. If your house is in great condition and you have the time and money to prepare it for the MLS, listing with an agent may very well get you more.
But if you want to sell **as-is**, without repairs, cleanout, showings, financing contingencies or months of uncertainty, that's a different product, and a different price.
The good news? We're still buying in Chicago and Chicagoland. There are still deals being done.
The sellers getting deals closed right now are simply the ones being realistic about TODAY'S numbers, not yesterday's market.
🏡 Have a Chicagoland property you're thinking about selling as-is? Send us a message. We're always happy to take a look and tell you what we can realistically pay.