CHICAGO—The number of statewide home sales dipped again last month, but median prices also rose again, according to data from the Illinois Association of REALTORS®. Lower inventory levels have made declining sales, at least on a year-over-year basis, and rising prices the norm for this year. September marks the 25th consecutive month of annual price gains.

“We are seeing a market that provides a lot of opportunity for sellers,” says Jim Kinney, president of the Illinois Association of REALTORS® and vice president of luxury sales for Baird & Warner in Chicago. “The time it takes to sell a house has dropped dramatically since the beginning of the year, and prices have consistently beaten previous-year levels through the first nine months of 2014.”

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