JUNE 2026 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
The May 2026 housing market remained defined by constrained inventory, moderating buyer activity, and continued price appreciation across much of the market. While total home sales were essentially unchanged from May 2025, pending contract activity softened modestly and new listing volume declined significantly. The persistent shortage of available homes continues to be the primary factor influencing market conditions across Near North, Lincoln Park, Lakeview, and North Center.
Inventory levels remained substantially below year-ago levels across every neighborhood and price tier, resulting in another decline in months of supply. With fewer homes entering the market and existing inventory remaining limited, buyers continue to face a highly competitive environment despite a moderation in overall transaction activity.
Median home prices increased meaningfully year-over-year, supported by tight supply and continued demand for well-positioned properties. Lincoln Park, North Center, and Near North all posted notable price gains, while Lakeview also continued to demonstrate pricing resilience. Luxury and upper-tier segments remained active, particularly in the $1M–$2M market, which recorded one of the strongest sales increases among all price categories.
New listings declined across most neighborhoods and price points, further limiting market turnover and reducing opportunities for buyers. The continued reduction in available inventory suggests that pricing pressure is likely to remain elevated unless listing activity improves materially during the summer selling season.
Key Takeaways
Sales volume remained stable overall despite softer buyer activity in select segments.
Inventory fell sharply across all neighborhoods and price tiers.
Months of supply continued to decline, reinforcing seller-favorable market conditions.
Median home prices increased as limited inventory supported property values.
New listings remain the primary market constraint and will be the key metric to watch in the coming months.
Outlook
As the market moves into the summer season, supply conditions will remain the primary determinant of market performance. Unless new listings increase significantly, inventory levels are expected to remain below historical norms, supporting pricing strength and limiting overall transaction volume. Demand remains healthy in many segments, but the market's ability to expand will depend largely on the availability of homes for sale.
Please let us know if you need information on any of Chicago’s other neighborhoods
MAY HOME SALES
Year To Date 2026 vs 2025 - Down 11.0%
May 2026 vs 2025 - No Change
NOTEWORTHY: Total sales were essentially flat year-over-year for the first time in months, with growth in Lakeview and North Center offset by declines in Near North and Lincoln Park
MAY HOMES UNDER CONTRACT
Year To Date 2026 vs 2025 - Down 2.6%
May 2026 vs 2025 - Down 8.3%
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.
Pending activity softened modestly overall. Near North and North Center improved, while Lincoln Park and Lakeview declined
MAY HOMES FOR SALE
Year To Date 2026 vs 2025 - Down 30.5%
May 2026 vs 2025 - Down 33.5%
Noteworthy: Inventory remained sharply constrained, falling more than 30% overall with the steepest neighborhood decline in Lakeview.
MAY MONTHS OF SUPPLY OF INVENTORY
Year To Date 2026 vs 2025 - Down 26.0% to 1.7 MSI
May 2026 vs 2025 - Down 29.2% to 1.7 MSI
Noteworthy : Supply tightened across nearly every segment, moving from 2.4 months to 1.7 months overall.
MAY MEDIAN PRICING
Year To Date 2026 vs 2025 - Up 7.2%%
May 2026 vs 2025 - Up 14.5%
Noteworthy : Median pricing increased substantially overall, led by gains in Lincoln Park, North Center, and Near North.
MAY NEW LISTINGS
Year To Date 2026 vs 2025- Down 18.5%
May 2026 vs 2025 - Down 20.4%
Noteworthy : New listing activity declined materially, especially in Near North and Lakeview, further limiting available supply
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.