Mount Prospect's housing market became noticeably more active during the second quarter of 2026. Between April 1 and June 30, 158 residential properties closed, up sharply from 85 during the first three months of the year.
The median sale price reached $450,000, while homes that closed during the quarter spent a median of 7 days on the market. Properties sold for an average of 101.3% of their final asking price, showing that well-priced homes continued to attract strong buyer interest.
Key Takeaways
Mount Prospect's median sale price reached $450,000 in Q2 2026, up from $410,000 in Q1.
New listings increased 69.5%, rising from 167 in Q1 to 283 in Q2.
Contract activity increased 65.0%, with 193 homes going under contract during the quarter.
Closed sales increased 85.9%, rising from 85 to 158.
Homes sold for an average of 101.3% of their final asking price.
Median market time fell from 9 days in Q1 to 7 days in Q2.
What Happened in the Mount Prospect Market This Quarter?
Spring brought a significant increase in Mount Prospect real estate activity.
New listings rose from 167 during the first quarter to 283 during the second quarter, an increase of 69.5%. Buyers had more homes to consider, but demand grew right alongside that new inventory.
Contract activity increased from 117 properties in Q1 to 193 in Q2. Closed sales rose even more sharply, climbing from 85 to 158, an increase of 85.9%.
Prices moved up meaningfully. The median sale price increased from $410,000 in Q1 to $450,000 in Q2. The average sale price moved from approximately $436,146 to $459,488.
Market time also tightened. Homes that closed during Q1 spent a median of 9 days on the market. That median fell to 7 days during Q2, meaning half of the homes that closed went under contract within a week of listing.
Together, these numbers show a market with more inventory, considerably more completed sales, and firmer pricing than the first quarter.
Mount Prospect Q2 2026 Market Statistics
Median sale price: $450,000
Average sale price: $459,488
New listings: 283
Homes under contract: 193
Closed sales: 158
Average market time: 17 days
Median market time: 7 days
Average final list-to-sale ratio: 101.3%
What Does This Mean If You Are Buying in Mount Prospect?
Buyers had considerably more choices during the spring than they did during the first quarter. That increase in listings did not remove competition from the market.
The average home sold for 101.3% of its final asking price. That does not mean every property sold above asking, but it does show that buyers frequently competed for homes that were priced appropriately and presented well.
The seven-day median market time is especially important. Desirable homes may receive strong interest within their first weekend on the market, so buyers should have financing preparation done before beginning serious home tours.
At the same time, not every Mount Prospect property moves at the same pace. A home that has been available for several weeks may offer a different negotiating opportunity than one that was just listed.
Property type, condition, school district, location, updates, taxes, and proximity to downtown or the Metra can all affect buyer demand. Recent comparable sales from the same part of Mount Prospect are often more useful than the village-wide median alone.
Read the Mount Prospect Cost of Living Guide
What Does This Mean If You Are Selling in Mount Prospect?
Q2 was a strong quarter for Mount Prospect sellers. Closed sales nearly doubled, homes moved faster, and the average sale finished above the final asking price.
That does not mean every home should be priced aggressively. Buyers had 283 new listings to compare during the quarter, and homes that felt overpriced could still be passed over.
The strongest results usually begin with a price supported by recent comparable sales. Condition, updates, property type, lot, location, school boundaries, taxes, and nearby competition should all be part of the pricing conversation.
Preparation also matters. Professional photography, accurate listing information, thoughtful staging, easy showing access, and a clear marketing plan can help create early interest.
The first week remains especially important. Because the median market time was only seven days, sellers should be fully prepared before the listing becomes active rather than making major changes after buyers have already seen it online.
Neighborhood Spotlight: Colony Country and Old Orchard
Among Mount Prospect subdivisions identified by name in the MLS, Colony Country recorded the most year-to-date activity through June 30, 2026.
Colony Country had 15 properties with a listing, contract, or closing event during the first half of the year. Old Orchard followed closely with 13.
Other active named subdivisions included Brickman Manor, Creekside, Huntington Commons, and Hatlen Heights.
Neighborhood-level activity should always be considered carefully. Colony Country and Old Orchard both sit near the golf course but include a mix of detached homes and condos with different price points, association structures, and buyer expectations. They are not directly interchangeable.
When evaluating a home, recent sales involving a similar property type in the same neighborhood are usually more helpful than comparing it with every sale in Mount Prospect.
Why Village-Wide Numbers Do Not Tell the Whole Story
Mount Prospect has a wide range of homes, from downtown condominiums and townhomes near the Metra to mid-century ranches and split-levels, larger single-family homes, and newer construction.
A downtown condominium near Prospect Manor or Village Centre may have very different market conditions than a detached single-family home near Lions Park, Westgate, Old Orchard, or the Euclid corridor.
School district boundaries, association fees, property taxes, lot size, updates, access to Metra, and proximity to major roads can also influence value and market time.
The village-wide median is a helpful starting point, but it should not be used as a stand-alone estimate for a specific property.
Get a More Specific Look at Your Home's Value
Community-wide market statistics can help you understand the direction of the Mount Prospect market, but they cannot tell you exactly what your home may sell for.
A useful home-value review should consider recent comparable sales, current competition, property condition, updates, location, lot, school boundaries, taxes, and features that may matter to today's buyers.
To talk through your plans, email [email protected] or choose a time on my calendar.
Frequently Asked Questions
Is the Mount Prospect housing market competitive in 2026?
Yes. Homes sold for an average of 101.3% of their final asking price during Q2 2026, and half of the homes that closed went under contract within seven days. Competition still varied by price, property type, location, and condition.
What was the median home price in Mount Prospect in Q2 2026?
The median residential sale price was $450,000 between April 1 and June 30, 2026. That was up from the Q1 median of $410,000.
Are more homes being listed in Mount Prospect?
Yes. Mount Prospect recorded 283 new residential listings during Q2 2026, compared with 167 during Q1. That was a 69.5% quarter-over-quarter increase.
How quickly are Mount Prospect homes selling?
Homes that closed during Q2 spent an average of 17 days on the market. The median market time was 7 days, meaning half sold more quickly and half took longer.
Do Mount Prospect homes usually sell above asking price?
Homes sold for an average of 101.3% of their final asking price during Q2 2026. Individual results varied based on pricing, condition, location, property type, and buyer demand.
Which Mount Prospect neighborhood had the most activity?
Among subdivisions identified by name in the MLS, Colony Country recorded the most year-to-date activity through June 30, 2026, with 15 properties experiencing a listing, contract, or closing event. Old Orchard followed with 13.
Data update disclaimer: This report was prepared on July 20, 2026, using residential real estate data from the local MLS for Mount Prospect transactions recorded from January 1 through June 30, 2026. Residential figures include detached homes, attached homes, and two-to-four-unit properties. Rental and land listings were excluded. MLS information can change as listings are revised, contracts are updated, or sales are entered after the reporting period. Figures may differ from other reports based on property types, geographic boundaries, status definitions, duplicate listing activity, or the date the data was pulled. The supplied data did not include a complete Q2 2025 closing set, so year-over-year comparisons were not included.
About the Author
Mari Van Meter is a REALTOR® with the Dragonfly Home Team at Berkshire Hathaway HomeServices American Heritage Real Estate, serving Arlington Heights, Palatine, Mount Prospect, Buffalo Grove, Wheeling, and the surrounding Northwest Suburbs of Chicago. She holds the C2EX, ABR®, PSA, SRES®, and CNE designations. Learn more about Mari.
