OCTOBER 2025 MARKET ANALYSIS FOR CHICAGO'S NORTH SIDE
Our monthly market analysis details six real estate metrics for the Near North Side, Lincoln Park, Lakeview and North Center, followed by our comprehensive monthly summary.
Please let us know if you need information on any of Chicago’s other neighborhoods
SEPTEMBER HOME SALES
Year To Date 2025 vs 2024 - Up 3.7%
September 2025 vs 2024 - Up 10.1%
NOTEWORTHY:
After two consecutive months of home sales decreases, September 2025 sales rose 10.1% over 2024.
SEPTEMBER HOMES UNDER CONTRACT
Year To Date 2025 vs 2024 - Up 1.9%
September 2025 vs 2024 - Up 6.6%
Noteworthy :
Most home sales that closed this month went under contract in a previous month. Units Under Contract reflects a more accurate picture of the current month, although not every home that goes under contract closes.
SEPTEMBER HOMES FOR SALE
Year To Date 2025 vs 2024 - Down 26.8%
September 2025 vs 2024 - Down 20.1%
Noteworthy:
Overall supply dropped -26.8% in September 2025, with especially steep declines in Lincoln Park (-41.8%) and Lakeview (-31.6%)
SEPTEMBER MONTHS OF SUPPLY OF INVENTORY
Year To Date 2025 vs 2024 - Down 21.4% to 2.2 MSI
September 2025 vs 2024 - Down 27.5% to 2.1 MSI
Noteworthy :
September 2025 Inventory levels tightened to 2.1 months (down -27.5%). Higher-priced segments saw the steepest declines in supply. -
SEPTEMBER MEDIAN PRICING
Year To Date 2025 vs 2024 - Up 8.3%
September 2025 vs 2024 - Up 10.1%
Noteworthy :
Median Prices rose +10.1% overall in September 2025 vs 2024. North Center posted the strongest gain (+21.1%), followed by Lakeview (+13.9%)
SEPTEMBER NEW LISTINGS
Year To Date 2025 vs 2024- Down 11.4%
September 2025 vs 2024 - Down 14.9%
Noteworthy :
September 2025 New Listings were down -14.9% overall (902 vs 1,061).
SEPTEMBER SUMMARY
SEPTEMBER MARKET INDICATORS
The market is supply-constrained, pushing prices upward. Strength is concentrated in the luxury and mid-market tiers, while Lincoln Park and Lakeview are soft spots on the neighborhood side.
Despite historically low inventory levels, home sales rose 10.1% in September 2025 vs 2024.
The sales increase was fueled by Near North (+36.2%) and North Center (+5.0%) While Lincoln Park (-4.5%) and Lakeview (-11.4%) lagged.
Three of the four price points showed strength. Homes priced >$2M surged (+44.0%).$500K–$1M strong growth (+17.4%).<$500K nearly flat (+3.4%). $1M–$2M slipped (-2.5%).
Active open house turnouts, increased offer incentives and multiple offers are testament that buyers are out there; however, there are just not enough homes for sale.
Hopefully falling interest rates will give the market the bump that it needs.
Be sure that your broker has experience in navigating this sometimes difficult and complicated market.
GOING FORWARD
With the current turmoil at the national and local levels, events continue to unfold. This makes it impossible to predict with certainty how our local real estate business will be affected. One thing that is certain is that the market needs a major influx of inventory, but many home owners are still reluctant to let go of their current 2+% interest loans on their current homes. Political & economic uncertainty along with perceived / actual crime rates are also keeping sellers on the sidelines.
YOUR HOME
A logical question would be “how does all of this affect the home that I am planning to sell or potentially buy?”
Every home is unique and a detailed analysis of your property and neighborhood is a necessity to fully understand the true market value and whether this is the right time to buy or sell.
There are many criteria both objective and subjective that must be analyzed in order to get a true picture.
Internet home pricing sites that claim to calculate your home’s value using only algorithms can be wildly inaccurate. Many market analysis from real estate agents that have not taken the time to personally tour the home can also be seriously flawed. Today’s volatility demands that you get a broker who thoroughly understands this rapidly changing market.
Whether you are buying or selling a home, we would welcome the opportunity to have a conversation about your real estate needs, goals and expectations.