Tracy Cross & Associates, Inc.
3rd Quarter 2025
Production home builders in the Chicago region recorded 4,168 new construction sales during the January-September 2025 period showing little change from the 4,157 units sold during the same period in 2024.
Sales of single family homes continued to decelarete with 2,439 units contracted during first nine months of 2025, down 13.4 percent year-over-year. Meanwhile, transactions among attached idioms, which includes townhomes, condominiums, duplexes, villas, etc. were up 28.9 percent. This disparity, however, resulted from a drop in the number of active single family developments regionwide, combined with a measurable increase in the number of attached sector communities selling new units. As such, per-project sales rates among indivual developments remained virtually unchanged.
Of particular note during 3rd Quarter 2025 was a drop in area home prices. For example, the average sales price of a new construction production residence in suburban Chicago (both detached and attached) decreased from $483,798 last year to a current level of $471,693. This decline, however, did not occur among same-store communities, but rather resulted from an increase in more value-oriented product throughout the region. Specifically, areas such as northern Lake County, McHenry County, DeKalb County and southern Cook County saw an influx of new production home communities with average introductory price points below $400,000, an intiative led by Lennar.
Overall, Lennar led all home builders in sales during the first nine months of 2025 with 1,037 contracts, followed by D.R. Horton with 979 sales. Rounding out the top five were Pulte and M/I Homes with 721 and 544 sales, respectively, followed by Ryan Homes with 213 sales.