Chicago's diverse real estate landscape, from the historic charm of the North Side to the dynamic growth & character of the South Side, continues to offer a compelling mix of opportunities for homebuyers and sellers. As we move through the third quarter of 2025, the market shows a remarkable resilience and growth across different areas. Here’s a look at what's driving the market in a few parts of both the north and south of the city.

•  North and South Side Trends

The overall trend for Chicago's real estate in Q3 2025 is one of strong price appreciation, although the pace and drivers differ by neighborhood and property style. In general, the persistent imbalance between supply and demand is a city-wide theme, keeping the market competitive in most categories.

• The North Side: Strong Prices and Tight Inventory

The North Side remains a highly sought-after destination for homebuyers, as many types of properties continue to see very competitive multiple offer situations - particularly the single family home and low-rise condo and townhome categories. As such, we continue to see an upward trend in prices.

A key factor in this upward pressure is the continued low inventory of available homes. While some modest increases in listings have been observed, the market remains firmly in "seller's territory." This limited supply means homes are selling faster than they were a year ago, while bidding wars and multiple-offer situations, while not as frenzied as during the spring market, are still a reality in many desirable pockets.

• The South Side: Renewed Interest, Revitalization and Rising Values

The South Side is a story of dynamic change and rapid appreciation in some areas, while continued steady growth is also seen in the neighborhoods of the South Loop and Hyde Park. Other neighborhoods seeing increased interest include Bronzeville, South Shore and Woodlawn, with much of that interest generated by the Obama Presidential Center. Some of the neighborhoods are seeing some of the most dramatic gains in the city, making them increasingly attractive to a wide range of buyers looking for value and potential, while also providing more affordable options than can often be found on the North Side.

• What I Call “The Jekyll and Hyde” Market

Although there is strong demand and limited inventory for many of the neighborhoods with single family homes and low-rise condos, the high-rise market tends to be a different story. While many buyers will be tiring of the numerous bidding wars that they may have been experiencing for single family homes, townhomes, and low-rise condos, for the high rise buyer it’s a much different scenario. In the high rises, there is a much more balanced market, providing buyers with more options and inventory, while also seeing far fewer situations of bidding wars. Market times tend to be higher overall, and more negotiability can be found in this segment. Unlike the strong seller’s market for other categories, the high-rise market is much more evenly balanced between buyers and sellers.

• The Outlook for the Remainder of 2025

Looking ahead, the Chicago real estate market as a whole is expected to remain a seller's market, with prices continuing on an upward trajectory, although high rises will likely continue to be a more balanced market. The key factors to watch are interest rates and inventory. With the recent rate declines, it could bring more buyers into the market, further intensifying competition. Conversely, it could also help sellers who have thus far been hesitant to give up their low interest rates to finally start to re-enter the market, providing the possibility for an increase in inventory to help balance the market and give buyers more leverage than they currently have.

For those considering a move, whether buying or selling, a deep understanding of these hyper-local trends is crucial. Understanding the distinct dynamics of the different neighborhoods, along with the subtleties of what is happening with the different property types is why it’s important to partner with someone with insight and knowledge. I’m happy to help if you have any real estate questions or needs.  If I am not familiar enough with an area or neighborhood, I will be honest and let you know and then help guide you to find someone who is. It’s a complex and ever-evolving market. You deserve to feel completely confident in the advice you’re getting.