AUGUST 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 comparing four neighborhoods and price ranges. There is also a button for each metric which shows detailed, interactive charts for monthly, YTD and ten year trends.
JULY OVERVIEW
July's market continued to show that inventory remains the biggest story. While overall home sales were only slightly lower than a year ago, buyers still had fewer homes to choose from, with inventory down more than 26%. At the same time, fewer new listings came to market, keeping supply tight across nearly every neighborhood and price range.
With significantly fewer homes available, pricing continues to rise. Median sale prices increased in every neighborhood, led by North Center and Lincoln Park, showing that well-priced homes continue to attract strong interest. Activity in the $1 million to $2 million price range remained particularly healthy, while the entry-level market saw softer sales and fewer new listings.
Overall, July reflects a market that's moving at a steadier pace than last year but continues to heavily favor sellers with desirable, well-priced properties. Limited inventory remains the biggest challenge for buyers heading into late summer.
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JULY HOME SALES
Year To Date 2026 vs 2025 - Down 6.7%
July 2026 vs 2025 - Down 1.0%
NOTEWORTHY: Overall home sales were nearly unchanged from last July, slipping just 1%. Performance varied quite a bit by neighborhood, however. North Center had another strong month, with sales jumping nearly 35%, while Lakeview also posted a healthy gain. Near North saw fewer closed sales, and Lincoln Park finished essentially even with last year.
By price range, activity was strongest between $1 million and $2 million, where sales climbed more than 45%. Sales also improved above $2 million and in the $500,000 to $1 million range, while homes below $500,000 continued to see softer demand.
JULY HOMES UNDER CONTRACT
Year To Date 2026 vs 2025 - Down 5.9%
July 2026 vs 2025 - Down 9.8%
Noteworthy : Pending sales slowed compared to last July, suggesting buyers are taking a little more time to make purchasing decisions, even with limited inventory. Near North, Lincoln Park and Lakeview all finished below last year's pace, while North Center continued to stand out with an increase in pending contracts.
Luxury homes priced above $2 million remained an exception, posting stronger contract activity than last year. Most other price ranges were down modestly, indicating buyers are still active but more selective.
JULY HOMES FOR SALE
Year To Date 2026 vs 2025 - Down 28.0%
July 2026 vs 2025 - Down 26.6%
Noteworthy: Inventory remained well below last year's levels across every neighborhood and price point. Near North continues to have the largest number of available homes, but even there inventory declined significantly.
The biggest reductions were seen in the luxury market, where homes priced above $2 million remain in particularly short supply. Overall, buyers continue to face limited choices, which is helping support home values despite slower overall activity.
JULY MONTHS OF SUPPLY OF INVENTORY
Year To Date 2026 vs 2025 - Down 26.1% to 1.7 MSI
July 2026 vs 2025 - Down 22.7% to 1.7 MSI
Noteworthy : Months of supply also continued to move lower, reinforcing that inventory remains tight throughout the market. Every neighborhood reported less available supply than a year ago, with North Center experiencing the sharpest decline.
Supply also tightened across every major price range. While buyers may have slightly more negotiating power than they did during the peak of the market, well-priced homes are still competing for attention because overall inventory remains limited.
JULY MEDIAN PRICING
Year To Date 2026 vs 2025 - Up 9.7%%
July 2026 vs 2025 - Up 20.0%
Noteworthy : Home prices continued to perform well throughout the market. All four neighborhoods posted year-over-year price gains, led by North Center and Lincoln Park, both of which recorded particularly strong appreciation.
Looking at price ranges, the market was a little more mixed. Homes between $500,000 and $2 million continued to post modest price gains, while the luxury market and homes below $500,000 finished slightly below last year's median prices. Overall, pricing remains remarkably stable due mainly to the lower level of inventory.
JULY NEW LISTINGS
Year To Date 2026 vs 2025- Down 14.3%
July 2026 vs 2025 - Down 14.2%
Noteworthy : Fewer homeowners chose to list their properties this July, continuing the trend of limited new inventory entering the market. Near North and Lincoln Park experienced the largest declines, while North Center was the only neighborhood to post a slight increase.
Every price range recorded fewer new listings than a year ago, especially homes priced above $2 million. Unless listing activity improves this fall, buyers are likely to continue facing limited inventory in many parts of the market.
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.