04/17/2026
As the Market Turns | Spring 26
Chicago is one of the hottest real estate markets in the country, but you wouldn’t know it. As the national news points to a generally slower buyer’s market, Chicagoland sales are boldly outperforming other metro areas.
In many Chicago neighborhoods and suburbs, buyers are paying 8–15% over asking, and prices are peaking. The 3-bed condo and single-family home markets remain the most competitive, but there are steady increases in the 1-2 bed markets as well. In Lakeview and Lincoln Park, what was $775K a year ago is now upwards of $900K.
What we’re experiencing is one or two buyers extending way over the rest of the offers. In many instances, the winning bid is $30–50K above the next-highest offer. Inventory is going to remain lower than we’d like, but we think the number of buyers willing to make such outrageous offers thins in the weeks ahead. If you’re a buyer who can be patient, that’s the play. If you’re a seller, the time is now!
For years, we’ve been saying that Chicagoland has been on the cheap, but that is quickly chainging. We are confident that our yearly increases of 6–8% will continue, but right now, many homeowners are up an additional 10–15%. Even in River North and the Gold Coast, there is a lot less to choose from, and values are ticking upwards. Rents are up another 10-15% this year as well. Some studios are approaching $2K, with many 2-beds at or above $4K.
Never has there been a more important time to be working with the best. We know how to list and manage a home that gets 60 showings and 15 offers, and we know how to coach clients through the most challenging buyer’s market in years. Broker-to-broker relationships remain paramount in securing a property.
We have found immense success in quarter one, getting our five sellers a combined $300K over asking price, while the five buyers we put under contract have only paid a combined $15K over list.
This year’s interior design rage is green tile, and the trend is screaming current to the buyer pool. A stylish accent wall in wallpaper is still the least expensive way to curate value, but green tile is having its moment.
We know that with the warmer weather, Chicago will continue to shine. Enjoy the sights and sounds of spring.
