🏡 The State of the Chicagoland Real Estate Market – April 23, 2025

The Biggest News Jason Rosenberg
Apr 23
3 min read

Spring has officially arrived, and so has one of the busiest windows for real estate in the Chicagoland area. Whether you’re in the city or the far suburbs, the market is buzzing — but also changing. Here’s a comprehensive look at where things stand across the region and how I help buyers and sellers navigate it all with confidence.

🏙️ Chicago Bounces Back — And Buyers Are Taking Notice

Urban living is back in fashion. After a few slower years, buyers are once again flocking to neighborhoods like West Loop, Bronzeville, and Logan Square. These areas offer walkability, public transit access, dining scenes, and — increasingly — newer construction options that don’t come with a downtown price tag.

Condos are moving again, too. Buyers who were previously worried about HOA dues or long-term city investment are now seeing value, especially in areas where prices have stabilized but appreciation is still likely.

🌳 The Suburbs Stay Strong — Especially for First-Time Buyers and Families

Suburban demand hasn’t slowed down. From South Holland to Schaumburg, Joliet to Waukegan, inventory is tight and move-in-ready homes priced under $450,000 are still flying off the market — often in a week or less.

📉 Inventory Is Still Tight — But There's Movement

As of April, the Chicago metro region has one of the lowest housing inventories we’ve seen in years. Many homeowners are still reluctant to give up their low mortgage rates, which keeps supply constrained. However, life events — marriage, divorce, job changes, retirement — are starting to drive more people to list.

That said, if your home is clean, updated, and priced right, it will likely sell fast. I’ve helped sellers across the region close above asking price, often with multiple offers, just by getting the timing, staging, and marketing right.

💰 Home Prices: Holding Strong, but Affordability’s Getting Tighter

Median home prices across the greater Chicagoland area now hover around $347,500, with the city itself at $365,000. Some luxury pockets (Lincoln Park, Hinsdale, Barrington) are seeing even sharper price jumps, while more affordable areas are still steadily appreciating.

Mortgage rates are holding near 6.8%, which is pressuring some buyers, but I help clients stay competitive by connecting them with top local lenders for rate buydowns, grant programs, and down payment assistance where available.

🧭 Local Market Spotlight

Geneva, IL – Homes are selling in under 10 days on average with extremely low inventory. Median price: $392,000
Lakeview (Chicago) – Sales are up 39% YoY with strong buyer demand for condos and townhomes
South Suburbs (like Dolton & Calumet City) – Still undervalued and primed for investor attention
Near North Side – Sales volume dipped but luxury listings are commanding high prices

Whether you're selling a bungalow in Berwyn or buying a condo in Uptown, my team has the tools and experience to deliver a tailored strategy that works.

📈 Outlook for Summer 2025

Expect more listings as summer kicks in, but don’t expect prices to fall significantly. Demand remains strong, and well-located, updated properties will continue to draw competitive offers. For buyers, acting fast and having financing lined up is key. For sellers, now is the moment to maximize equity before competition picks up in Q3.

✅ How I Help You Across Chicagoland

I don’t just focus on one part of town — I serve the entire Chicagoland area. From the city limits to the farthest suburbs and everything in between, I bring over 24 years of experience helping clients navigate every corner of the region with strategy, precision, and results.

Whether you’re buying a bungalow in Berwyn, selling a condo in West Loop, or looking to invest in a duplex out in Plainfield, I’ve got you covered.

Here’s what you can expect when working with me:

A competitive, reduced listing commission structure
Pro photography, open houses, and multi-platform marketing
No cancellation fees or hidden costs
Maximum visibility across the MLS and 100+ real estate websites
Expert-level pricing and prep tailored to your neighborhood and market conditions

📝 Final Thoughts

The Chicagoland market in spring 2025 is competitive, complex, and full of opportunity. Whether you're in the heart of downtown or out in the burbs, the right plan makes all the difference. Let’s talk about how I can help you buy smarter, sell faster, and keep more of your money in the process.