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It’s 2025 and the real estate market in Chicago and the North Shore already showing signs of growth!
Chicago Market Overview
Chicago real estate market is poised for a robust year. With mortgage rates expected to decline, we anticipate an increase in market activity. This trend is likely to bring more buyers into the market, especially those who have been waiting for more favorable conditions
North Shore Insights
The North Shore market, known for its desirable neighborhoods and high-quality living, saw slight inventory growth in the last quarter of 2024. If this trend continues, we could see prices increase around 2.5% in early 2025. Lower mortgage rates may also spur demand, potentially leading to more competitive bidding in certain areas.
Key Trends to Watch
- 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.
Chicago and the North Shore real estate markets are set for an exciting year. With favorable conditions on the horizon, now is a great time to explore your real estate options. Whether you’re looking to buy, sell, or invest, staying informed about market trends will help you make the best decisions.
