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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!

1. Lower Mortgage Rates: The anticipated decline in mortgage rates is expected to boost buyer activity, an opportune time for both buyers and sellers2.
2. Inventory Levels: While inventory remains low, any increase could balance the market, providing more options for buyers and stabilizing prices1.
3. 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.

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! 🦃🍁

Why Some Homeowners Are Deciding to Sell Now

Lately, a lot of homeowners have been putting off moving because they don’t want to sell and end up with a higher mortgage rate on their next home.

Maybe you’re in the same boat? It’s one of the main reasons why there are so few homes for sale right now.

But, more and more people are deciding to sell anyway, for personal or lifestyle changes.

If you’re on the fence about moving, check out some of the top reasons others are choosing to sell. You might find these reasons convincing enough to make your move now, too.

Time for a Change

Sometimes, a new job in a different city, wanting to be closer to family, or just craving a change of scenery can make you want to sell. For example, if you’ve landed an amazing job offer that requires you to relocate, putting your current home on the market might be the next logical step.

Just Not Enough Space

Your current home might not fit your lifestyle anymore. Maybe your family is growing, you need a home office, or you want more room for entertaining. For instance, if you live in a condo and have a baby on the way, selling might be the best move so you can find a larger home that suits your needs.

Retirement or Downsizing

On the flip side, some people are ready to downsize. The kids have moved out or you just want less to maintain. If you’re newly retired and dreaming of a simpler lifestyle, downsizing to a smaller home could free up both time and resources to enjoy this new chapter of life.

Changes in Relationship Status

Divorce, separation, or marriage often mean you need new living arrangements. If you’ve just gone through a life changing event, selling might help you move forward and find a situation that works better for you now.

Health and Mobility Needs

Health concerns also drive the decision to sell. A home might no longer suit your needs. If this sounds like you, a more accessible space, or using the proceeds or selling for assisted living, could significantly improve your quality of life.

Bottom Line

Selling is about making the best decision for your lifestyle and future. If a major life change has you thinking about moving, now might be the right time to sell. Contact me as your trusted real estate professional to help you navigate the entire process.

Chicago and North Shore Real Estate Market: What to Expect Post-Election

As the presidential election wraps up, the Chicago and North Shore real estate market will start feeling its effects. Here are some potential trends and points to consider:

Buyer and Seller Activity

• Increased Buyer Confidence: Many buyers prefer to wait out the uncertainty of an election, so we may see renewed buyer interest afterward. Those who were hesitant might feel more confident making a purchase.

• New Inventory from Sellers: Some sellers delay listing until post-election, anticipating more buyer activity. The market may see an uptick in new listings, offering fresh opportunities for buyers.

Mortgage Rates and Affordability

• Mortgage Rate Stability: While interest rates have fluctuated, they are expected to remain relatively stable for now. Buyers and sellers should keep an eye on announcements, as any shifts could influence affordability.

• Price Adjustments: The mix of inflation concerns, interest rates, and local demand might create a unique balance, potentially softening price increases and providing more breathing room for buyers.

Suburban vs. City Demand

• Continued Suburban Demand: The North Shore suburbs remain popular among buyers looking for more space and access to top-rated schools, green areas, and commuting convenience.

• Urban Rebound in Chicago: With downtown revitalization efforts underway, there’s been renewed interest in city living. New amenities, housing developments, and transportation upgrades could help attract young professionals and families.

New Construction and Development

• New Projects on the Horizon: Local developments, especially in North Shore suburbs, could lead to increased construction of luxury homes, multi-family residences, and green spaces that attract new buyers to the area.

• Eco-Friendly and Smart Homes: There is a growing trend toward sustainable building and smart technology in new homes, appealing to buyers looking for energy efficiency and modern features.

Market Trends and Competition

• Competitive Price Points: Expect competition to remain tight in popular areas of the North Shore, as limited inventory meets high demand, especially in entry-level and mid-tier price ranges.

• Upscale Market Opportunities: Higher-end properties might experience a more gradual sale process, which could lead to strategic pricing adjustments and potential bargains for high-end buyers.

Regulatory and Tax Changes

• Impact of Local Policies: Changes at the state or federal level in property taxes, deductions, or incentives could affect affordability, influencing both investor and buyer behavior.

• Affordable Housing Developments: As affordable housing initiatives gain traction, they could shift the local market landscape, especially within Chicago neighborhoods.

Key Takeaways for Buyers and Sellers

• For Buyers: If you’ve been waiting to buy, monitor rate trends and consider acting before any potential hikes. Flexibility and readiness to move quickly in competitive areas could be beneficial.

• For Sellers: As buyer activity picks up, now may be an ideal time to list, especially if you’re in a high-demand area. Preparing your home to stand out in the post-election market can give you a competitive edge.

As the dust settles from the election, the real estate market in Chicago and the North Shore will be reshaped by both national and local changes. Keeping informed and working with a knowledgeable realtor will help you navigate this evolving landscape confidently. ® 

Top Tips for my Clients Visiting Open Houses

As your trusted real estate advisor, I want to ensure you make the most of your open house visits. Here are some personalized tips to guide you through the process:

1. Do Your Homework

Before you head out, take a peek at the property online. Check out the listing details, photos, and any virtual tours. This will give you a good idea of what to expect and help you pinpoint areas you want to focus on during your visit.

2. Create a Checklist

Jot down your must-haves and deal-breakers. This list will keep you on track and ensure you don’t miss any important features. Think about things like the number of bedrooms and bathrooms, the kitchen’s condition, and overall layout.

3. Take Notes and Photos

Bring along a notebook and your smartphone to document your visit. Note the property’s condition, any repairs or updates needed, and your overall impressions. Photos can help you remember details and compare homes later.

4. Ask Questions

Don’t hesitate to ask the listing agent questions. Find out about the age of the roof, HVAC system, and appliances. Ask about the neighborhood, schools, and any upcoming developments. The more information you gather, the better your decision will be.

5. Observe the Neighborhood

Take a stroll or drive around the neighborhood. Look for signs of a well-maintained community, like clean streets, well-kept lawns, and friendly neighbors. Consider how close you are to amenities like grocery stores, parks, and public transportation.

6. Check for Red Flags

Keep an eye out for potential issues such as water damage, foundation cracks, or signs of pests. These could mean costly repairs in the future. If you spot anything concerning, it might be worth bringing in a professional inspector for a closer look.

7. Trust Your Instincts

Lastly, trust your gut. If a house feels right and ticks all your boxes, it might be worth pursuing further. On the flip side, if something feels off, don’t ignore that feeling. There are plenty of homes out there, and it’s important to find one that feels just right for you.

Happy house hunting! 🏡✨

https://www.roomvu.com/agent/robin-saichek-1 

While I do have access to up-to-date information on the current real estate market conditions in Chicagoland, I can also provide you with some general guidance on what factors to consider when making a decision to sell your property.

1. First, my data will help you assess the local real estate market conditions in your immediate area. Factors that can impact the real estate market near you include the economy, the cost of financing (interest rates) and the local housing inventory in your neighborhood or in your condo building.
2. Second, you’ll need to evaluate your personal circumstances and objectives. Are you looking to sell quickly or are you willing to wait for the right offer? Are you relocating, downsizing or upgrading? Answering these questions can help determine if now is the right time to sell.
3. And last, as your local real estate, I will provide you with up-to-date market insights and help you make an informed decision based on your specific circumstances.

Overall, the decision to sell your property should be based on a combination of market conditions and your personal circumstances, and it is important to weigh all the factors before making a decision.