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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.
March 2025 Chicago to the North Shore 🏡
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Chicago’s North Shore continues to attract buyers seeking a peaceful environment near the city.
Here’s what’s happening in 2025:
- Evanston, Highland Park and Glencoe are experiencing more sales and great prices for updated, move-in ready homes.
- With hybrid work common, areas with Metra access, such as Wilmette and Kenilworth, remain in high demand. Buyers prioritize easy access to public transit and major highways for their downtown commutes.
- Highland Park & Lake Forest: Properties over $2M are selling well.
- Evanston & Wilmette: There’s a surge in demand for $800K-$1.5M near top-rated schools.
- Glencoe and Northbrook offer potential for buyers willing to undertake minor/moderate renovations. Fixer-uppers in desirable locations attract both investors and long-term owners.
City of Chicago Market Trends
- Home values in Chicago are expected to rise 1.2% this year. This follows a 5.4% increase in 2024.
- Bidding wars are happening in the $500,000 to $600,000 price range and everything I am showing over $750,000 to $1.1M has had multiple offers in the first few days. It’s been a great month to be a seller.
Downtown Chicago sales have been stronger in 2025, with buyers focused on modern amenities and proximity to key locations.
March 2025 Newsletter
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Real Estate Updates | Area Reports | January 2025
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Sell for More? Here’s How!
Spring is just around the corner, and it’s the perfect time to give your home a fresh look if you’re considering selling. I know that home improvements can be time-consuming and expensive.
That’s where the our RealVitalize program comes in, making it easier and more affordable.
So, what’s it all about?
In simple terms, it’s a service that helps you spruce up your home to boost its market value, without you having to pay anything upfront. Whether it’s adding a splash of new paint, updating your kitchen, or enhancing your landscaping, this has got you covered.
Here’s how it works:
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Enroll: I’ll sign you up for the program, and you’ll receive confirmation within a day or two.
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Schedule: Project consultants will coordinate with local professionals to provide estimates and set up the work schedule.
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Renovate: Specialists will complete the improvements on time and within budget. The best part? You don’t pay anything upfront.
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Sell: After your home sells, the cost of the improvements is deducted from the sale proceeds—no hidden fees or interest.
Why consider updating for the Spring selling market?
Making your property as appealing as possible leads to a quicker and higher sales price. With impactful changes at no financial stress or hassle, you are way ahead of getting great selling results!
Reach out to me today to learn more!
Don’t wait—spring is the perfect time to make your home shine!
For more details, visit my website or contact me directly at (312) 659-9868 or at robin.saichek@cbrealty.com.
I’m here to help you make your home the best it can be!
Remodel or Sell As-Is in Chicago and the North Shore in 2025?
- High Demand for Updated Homes: Chicago buyers are increasingly seeking modern features like energy-efficient appliances, renovated kitchens, and functional outdoor spaces. Making these upgrades can significantly enhance your home’s appeal and selling price.
- Limited Inventory: With a competitive market, well-maintained and updated homes are likely to sell faster and at higher prices. The demand for move-in-ready homes remains strong.
- North Shore Appeal: Neighborhoods like Evanston, Wilmette, and Winnetka are especially desirable. Focusing on renovations that align with local preferences can be highly advantageous.
- Evaluate Renovation Costs: Carefully assess the cost of necessary updates against the potential increase in selling price to ensure a positive ROI. In 2025, the average cost for home remodels in Chicago ranges significantly, so it’s crucial to budget wisely
- Minor Cosmetic Issues: If your home only needs minor cosmetic updates, selling “as-is” might be a viable option, depending on market conditions and how quickly you need to sell.
- Unique Property with Niche Appeal: If your home has unique features that appeal to a specific buyer demographic, selling “as-is” could attract buyers willing to take on renovations.
- Before Making a Decision:
- Consult a Local Real Estate Agent: They can provide insights into current market trends, comparable sales in your neighborhood, and advise on the best strategy for your specific property
Check Your Property Tax Bill
Take action: Tax Exemptions Lower your Tax Bill. Homeowner and Senior Exemptions can save you hundreds of dollars a year.
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Chicago and the North Shore off to a Promising Start!
As we step into 2025, the real estate market in Chicago is already showing signs of a vibrant year ahead. The city is witnessing a surge in activity, with multiple offers on many properties, indicating a highly competitive market. This trend is not just limited to the city; the suburbs are also expected to experience similar dynamics as we move into the spring season.
City Market Trends
Chicago’s real estate market is off to a strong start, with buyers eager to secure properties. The demand is high, and this is reflected in the multiple offers being made even as the New Year has barely begun. This competitive environment is a positive sign for sellers, who can expect to receive attractive offers for their properties.
Suburban Market Outlook
The suburbs are not far behind. As we approach Spring, traditionally beginning after Super Bowl Sunday, the suburban market is anticipated to mirror the city’s activity. Buyers looking for more space and a quieter lifestyle are driving this demand, making the suburbs a hot spot for real estate transactions.
What This Means
For buyers, this means acting quickly and being prepared to make competitive offers. Working with a knowledgeable real estate agent can provide an edge in this fast-paced market. For sellers, it’s an opportune time to list your property, as the high demand leads to very favorable selling conditions.
Conclusion
The 2025 real estate market in Chicago and its suburbs is starting off with a bang. With multiple offers on properties and a bustling Spring season ahead, both buyers and sellers have much to look forward to.
Call to Action
If you’re considering buying or selling, now is the perfect time to act. Contact me today to navigate this competitive market and make the most of the opportunities available. Stay tuned for more updates as the year progresses!
January 2025 Real Estate Update: Chicago and the North Shore
- Lower Mortgage Rates: The anticipated decline in mortgage rates is expected to boost buyer activity, an opportune time for both buyers and sellers2.
- Inventory Levels: While inventory remains low, any increase could balance the market, providing more options for buyers and stabilizing prices1.
- Market Segments: Affordable homes for first-time buyers and move-in-ready single-family homes are expected to remain highly competitive. Meanwhile, downtown condos and high-end properties may see downward price pressure due to growing inventory.
Winter Wonderland as we head into a new year!
If You’re Planning to List Your Property for Sale in 2025, It’s Already Time to Start Working on Getting It Ready!
As we approach the new year, many property owners in Chicago and the North Shore are considering listing their homes or condos for sale in 2025. If you’re one of them, now is the perfect time to start preparing your property to ensure you get the best possible return on your investment. Here’s where to start and how to prioritize projects that appeal to today’s buyers.
1. Enhance Curb Appeal
First impressions matter, even in winter:
- Landscaping: While planting flowers isn’t feasible, ensure your yard is tidy. Clear debris, rake leaves, keep walkways free of snow and ice.
- Exterior Paint: A fresh coat of paint can make a huge difference for both houses and condo doors.
- Front Door: Consider updating or repainting your front door for a welcoming entrance.
2. Update the Kitchen
The kitchen is often the heart of the home and a major selling point:
- Modern Appliances: Consider investing in energy-efficient appliances.
- Counters and Cabinets: Consider updating to granite or quartz and refacing or painting cabinets.
- Lighting: Install modern lighting fixtures to brighten the space.
3. Refresh Bathrooms, another critical area for buyers:
- Fixtures and Hardware: Update faucets, showerheads, and cabinet hardware.
- Tile and Grout: Clean or replace old tiles and refresh grout lines.
- Vanity: A new vanity can transform the look of a bathroom.
4. Declutter and Depersonalize
Buyers need to envision themselves in your property:
- Remove Personal Items: Take down family photos and personal memorabilia.
- Organize Storage Spaces: Clear out closets and storage areas to showcase their capacity.
- Minimalist Decor: Keep it simple and neutral to appeal to a broader audience.
5. Make Necessary Repairs and Address any maintenance issues:
- Fix Leaks: Repair any plumbing leaks or water damage.
- Electrical Issues: Ensure all electrical systems are up to code.
- Structural Repairs: Address any foundation or structural issues.
6. Consider Energy Efficiency
- Insulation: Improve insulation in attics and walls for houses, ensure windows/doors well-sealed in condos.
- Windows: Upgrade to double-pane windows if needed.
- Smart Home Features: Install smart thermostats and lighting systems.
7. Staging makes a significant difference in how your property is perceived:
- Hire a Professional stager to highlight your property’s best features.
- Virtual Staging: If in-person staging isn’t feasible, virtual staging is a great alternative that I use often if the price point makes actual staging too expensive.
Connect with Me! ✅
If your goal is to sell your property next year, connect with me so you know what to start working on, and when. I will provide personalized advice and help you prioritize projects that will maximize your return and appeal to today’s buyers.
My Thankful Thanksgiving for You in 2024
Gratitude in Real Estate: a Thanksgiving Reflection
As Thanksgiving approaches, I am very grateful for my career as a Realtor. Working with buyers, sellers, and landlord investors in the vibrant Chicago and North Shore marketplace has been incredibly rewarding.
Thankful for My Clients
First and foremost, I am thankful for my clients. Each of you brings unique stories, dreams, and goals, and it is an honor to help you navigate the real estate journey. Whether it’s finding the perfect home, selling a cherished property, or managing investments, your trust and confidence in me mean the world.
Grateful for the Community
The Chicago and North Shore areas are more than just places on a map; they are communities filled with rich diverse cultures and wonderful people. I am grateful to be part of such a dynamic and supportive environment. The connections I’ve made and the relationships I’ve built here are truly special.
Appreciative of the Opportunities
Every transaction is an opportunity to learn and grow. I am thankful for the challenges that push me to be better and the successes that remind me why I love what I do, even after almost 30 years as a Realtor. The real estate market is ever-changing, and I am grateful for the chance to adapt and thrive in this exciting field.
Looking Forward
As we gather with family and friends this Thanksgiving, I want to extend my heartfelt thanks to everyone who has been part of my real estate journey. Your support and partnership are invaluable, and I look forward to continuing to serve you in the years to come.
Wishing you all a Happy Thanksgiving filled with joy, gratitude, and wonderful memories.
Happy Thanksgiving! 🦃🍁
