The November 2024 housing market marked a significant month, with sales of existing homes rising 5% from October and 6% from the same time last year. Similarly, the median existing-home price climbed 5% year-over-year, reaching $406,100. However, while inventories improved by 18% compared to last year, the supply remains at a historically low 3.8-month level, well below the 6-month supply indicative of a balanced market.

The 2025 Illinois commercial real estate market is set to undergo significant transformations, presenting a landscape filled with opportunities and challenges. One of the most notable drivers of activity in the sector is the substantial volume of loans maturing this year. These maturities create a ripple effect, stimulating refinancing, sales, and overall property market activity across the state.