Mitir Patel/Insights/September 8, 2026
Bidding wars eased across Cook County in August
Something actually changed in the Chicago numbers this month.
In August, homes across Cook County sold for 5.1% more than a year earlier. In July, that figure was 8.6%. Prices are still rising — just not as fast.
The part that matters if you're shopping: 43% of homes sold above the asking price in August, down from nearly 49% in July. And homes sat a little longer — 51 days, versus 49.
In plain terms: you're somewhat less likely to end up in a bidding war than you were a month ago. Not gone — less likely.
Two cautions. There were fewer homes for sale in August than a year ago, so your choices are still limited. And rates haven't budged — 6.71% on a 30-year loan as of September 3.
If you shopped this summer and stepped back, it's worth another look. Happy to talk it through.
Where the numbers come from
- Cook County median sale price, YoY — $383,716, +5.1% (as of August 2026) · Redfin
- Prior month's price growth, for contrast — $396,338, +8.6% (as of July 2026) · Redfin
- Share sold above list — 43.2% (+1.8 pts YoY) — written as "43%" (as of August 2026) · Redfin
- Prior month's share above list — 48.6% — written as "nearly 49%" (as of July 2026) · Redfin
- Median days on market — 51 days (−1 day YoY) (as of August 2026) · Redfin
- Prior month's days on market — 49 days (as of July 2026) · Redfin
- "Fewer homes for sale than a year ago" — Active listings 19,578, −3.6% YoY (as of August 2026) · Redfin
- 30-year fixed mortgage rate — 6.71% (prior week 6.66%; 6.50% a year ago) (as of Sept 3, 2026) · Freddie Mac PMMS
Thinking about buying or selling in Chicago?
These notes are the plain-language version of what I watch every week. If you want it applied to your own budget, your block, or your building, send a note — no pressure and no pitch.
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