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Featured local agent — Chatham, IL
Sarah Mitchell
Compass Real Estate · Chatham, IL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Chatham, IL Housing Market & Real Estate
Housing market overview · Updated monthly ·
$310,000median sale price
How is the Chatham, IL housing market right now?
The median home sale price in Chatham, IL is $310,000, down 2.4% year-over-year. Homes sell in an average of 4 days with 17 active listings. The market is currently a strong seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Chatham a buyer's or seller's market?
Chatham, IL is currently a strong seller's market, based on 0.5 months of supply and homes selling in about 4 days. How we determine this →
Homes sold
31
Last 12 weeks
Days on market
4
Fast-moving
Active listings
17
0.5 months supply
Sale-to-list
103.3%
Above asking
What does the Chatham housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $310,000 |
| Median list price | $314,500 |
| Year-over-year price change | -2.4% |
| Average days on market | 4 days |
| Active inventory | 17 listings |
| Months of supply | 0.5 months |
| Sale-to-list price ratio | 103.3% |
| Median price per sq ft | $142/sq ft |
| Homes sold (latest month) | 31 |
| New listings (latest month) | 28 |
| Listings with a price cut | 17.6% |
| Market condition | Strong seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Chatham by property type?
How the Chatham, IL market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $308,000 | $141/sq ft | 28 | 4 days |
| Condo / Co-op | $279,000 | $159/sq ft | 2 | 32 days |
| Townhouse | $345,000 | $111/sq ft | 1 | 111 days |
Source: Redfin · Updated monthly
The Chatham housing market is currently classified as a strong seller's market with a median sale price of $310,000. Prices have fallen 2.4% compared to last year, with homes spending an average of 4 days on market, indicating 0.5 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 2.9x provides context for how home values compare to local earning capacity.
Homes for sale in Chatham
There are currently 17 homes listed for sale in Chatham, Illinois. The median listing price is $315K.
Active listings
17
Homes on market
Median list price
$315K
Avg. days on market
4
Days until sale
New this week
28
Newly listed
Who lives in Chatham?
Population
14,740
Median income
$106,030/yr
Median age
35.1 years
Owner-occupied
79.6%
College grads
49.4%
Avg commute
23.4 min
Source: U.S. Census Bureau ACS
What are homes worth in Chatham?
Zillow home value
$308,707
Zillow rent index
$1,713/mo
Price-to-rent ratio
15.0x
Price-to-income
2.9x
Source: Zillow Research
What is it like to live in Chatham?
Chatham is a community of approximately 15K residents with a median age of 35.1 years.The median household income is $106,030, which reflects a relatively affluent area with strong earning potential. 49.4% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 79.6%, reflecting strong community stability and long-term resident commitment. The average commute time is 23.4 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Chatham offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Chatham?
6 schools tracked · 4,631 students
The largest public schools serving Chatham, IL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Glenwood High School
Grades 9-12 · 1,468 students
Glenwood Middle School
Grades 7-8 · 771 students
Glenwood Intermediate Sch
Grades 5-6 · 686 students
Ball Elementary School
Grades PK-4 · 609 students
Glenwood Elementary School
Grades K-4 · 609 students
Chatham Elem School
Grades K-4 · 488 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Chatham, IL?
Want a head-to-head view? Compare Chatham side-by-side with any other U.S. city using our market-comparison tool.
Is Chatham a good real estate investment market?
For investors evaluating Chatham, the price-to-rent ratio of 15.0x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has softened 2.4% year-over-year, potentially creating entry opportunities for strategic buyers.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Chatham's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Chatham's median home price.
Frequently asked questions
What is the average home price in Chatham?
The median home sale price in Chatham is $310,000, down 2.4% from last year.
How long do homes stay on market in Chatham?
Homes typically spend 4 days on market before going under contract.
What is the median income in Chatham?
The median household income is $106,030 per year.
Is Chatham a buyer's or seller's market?
With 0.5 months of supply, Chatham is currently a strong seller's market.
What is the Zillow home value estimate for Chatham?
The Zillow Home Value Index (ZHVI) for Chatham is $308,707, representing the typical home value in the area.
What is the median condo price in Chatham?
The median condo/co-op sale price in Chatham, IL is $279,000, compared to $308,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Chatham?
The median single-family home price in Chatham, IL is $308,000 (about $141 per square foot).
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