Chicago and North Shore Real Estate Update: April 2025

Chicago and the North Shore’s real estate market continues to thrive as a seller’s market. Home prices remain elevated due to low inventory and strong buyer demand. The North Shore is experiencing similar trends, with prices and sales activity showing consistent growth. 

In my own sales activity, every home I have listed and sold this Spring has sold in under 3 days, with multiple offers. 

Takeaways:

• Seller’s Market: Chicago and the North Shore remain largely seller’s markets, with low inventory and strong demand pushing prices upward. This trend is expected to persist throughout the year, making it an opportune time for sellers to capitalize on their investments.
• Price Appreciation: Home prices are expected to continue their upward trend in 2025, with increases ranging from 2-3%, as indicated by various reports. This steady appreciation reflects the robust demand and limited supply in the market.
• Low Inventory: Low housing inventory, particularly in the North Shore, is a key factor driving the seller’s market conditions. Market experts highlight that the scarcity of available homes is contributing to the competitive environment, where buyers are often willing to pay a premium.
• Factors Influencing the Market: Several factors are shaping the housing market here. The return-to-work trend, fluctuating interest rates, and broader economic conditions are all playing significant roles. As more people return to in-person work, the demand for housing in desirable locations like Chicago and its suburbs continues to rise.
• North Shore Trends: The North Shore is experiencing very strong growth in home prices and sales. The median sale price per square foot has increased by 5.1% since last year. This underscores the appeal plus the ongoing demand for properties here.

Contact me anytime for an up to the minute market report in your area or in any area you’re interested in exploring.