As the market Turns | WINTER 2025
The Chicagoland real estate market has been in a similar place for the last three years, and 2025 saw more of the same. Low inventory, record-high sales for some sellers, and a competitive buyer pool focused on walk-up condos, single-family homes, and multi-unit buildings. We expect these conditions to continue in 2026.
The most challenging search right now is for a three-bedroom condo in a walk-up or mid-rise building on the Northside, where inventory is down 33% from last November. As we’ve highlighted in the past, many would-be sellers are holding onto their 2.9% interest rates and the post-covid world is seeing a higher demand for 3-bedrooms.
It behooves buyers to begin their search as early as possible, as most searches require a long runway. We traditionally see a window in the first three weeks of January when there is an influx of listings, but much of the buyer pool doesn’t have their act together. The ones who do come out ahead.
On the listing side, prices peaked around May 1st, but all 12 months provided strong opportunities for sellers. Pricing remains key, and setting a listing right on the market, rather than above, continues to result in a higher sold price.
We hope to see rates dip into the 5’s this spring. This should drive movement in the trade-up segment both in the suburbs and the city. Rates are currently sitting around 6.25%.
In Cook County, the average closed price is now $480K, up 8% from last year. In Lake County, the average closed price for single-family homes is $585K, up 9%. We have seen sizable gains over the past three years, and we believe that trend will continue. Values in Chicagoland are not going to slide backward.
2025 has been an outstanding year for us, achieving our sales goal in a challenging market. Randy got back to Southern Africa adventures, visiting Namibia and Botswana. Jeremy enjoyed a full year in Chicago, spending time with family and his beloved dogs. We’re incredibly grateful for your trust and support. We wish you a fun-filled holiday season and all the best in 2026!
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- As the Market Turns | Summer 23
- As the Market Turns | Spring 23
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- As the Market Turns | Winter 22
- As the Market Turns | Spring 22
- As the Market Turns | Winter 21
- As the Market Turns | Summer 21
- As the Market Turns | Spring 21
- As the Market Turns | Winter 20
- As the Market Turns | Summer 20
- As the Market Turns | Spring 20
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