Insights from the Team at Joanne Sells Chicago
Chicago’s real estate market continues to move fast, and even as the seasons change, some things remain consistent—especially the competitive edge buyers and sellers need to succeed.
The Current Market: Competitive, Creative and Still Favoring Sellers
While national headlines shift weekly, Chicago remains a relatively stable and resilient market compared to more volatile regions like Florida or California. Demand in many neighborhoods still outpaces supply, leading to competitive offer situations where buyers are going above and beyond to secure their dream homes.
Even with elevated interest rates, competition remains intense. Buyers are submitting aggressive offers, often including strategies like love letters, escalation clauses, or even cash offers with the right to a mortgage. In particularly hot neighborhoods, it’s becoming more common to see waived contingencies, flexible rent-back agreements, and creative terms aimed at giving sellers peace of mind.
“In over 30 years in this market, we’ve never seen this level of boldness from buyers,” says the Joanne Sells Chicago team. “We’re tailoring each offer with a razor-sharp strategy because in this climate, every detail matters.”
Advice for Buyers and Sellers: Do Your Homework
Whether you’re preparing to buy or sell, the number one piece of advice is the same: get educated. Understanding market dynamics, pricing trends, and neighborhood activity gives you a major advantage.
For buyers especially, a reality check is key. Joanne recommends writing down your must-haves, defining a clear budget, and reviewing recent sales—not just active listings. “If you can find at least three properties that match your criteria and budget, you’re probably in a viable market. If not, it may be time to adjust your expectations—or consider holding off.”
Sellers, on the other hand, should stay attuned to what buyers are looking for. Updated homes in sought-after neighborhoods, priced strategically and staged thoughtfully, are still flying off the market.
Hot Neighborhoods to Watch
Several Chicago neighborhoods continue to see strong demand and rising prices. Right now, Avondale, Andersonville, Logan Square, and Wicker Park are especially active, thanks to their mix of charm, convenience, and vibrant community feel. Meanwhile, Lincoln Park, Lakeview, and DePaul remain perennial favorites.
Chicago is also seeing renewed interest in communities just outside the traditional hotspots. As buyers widen their search, neighborhoods with good transit, character-filled streets, and strong local amenities are becoming increasingly attractive.
It All Comes Down to Lifestyle
Whether it’s a vintage bungalow with a backyard or a sleek, amenity-rich condo, today’s buyers are looking for homes that reflect their lifestyle. There’s no one-size-fits-all in Chicago real estate—and that’s exactly what makes it so dynamic.
Browse A Selection of Homes Currently on the Market
Featured Listing: 2678 N Orchard St, Lincoln Park
Step into refined elegance with this newly listed Greystone single-family home in the heart of Lincoln Park. Thoughtfully renovated throughout, the home offers five spacious bedrooms, multiple outdoor areas, a chef’s kitchen with Viking appliances, spa-inspired bathrooms, elevator access, a movie-theater–ready room, and exquisite custom finishes—from walnut floors to marble baths and mosaic tiling.
Designed for entertaining and daily luxury, this extraordinary residence blends timeless architecture with modern comfort—truly a rare find in one of Chicago’s most sought-after neighborhoods.
Just Listed: 161 E Chicago Ave #29DE
Rarely available combined residence at Olympia Centre with sweeping southwest views, oversized rooms, and high-end finishes. Featuring Sub-Zero, Bosch, and Dacor appliances, multiple living spaces, and a luxurious primary suite with spa-inspired bath. Located in a full-service building step from Michigan Avenue.
Coming Soon: 2220 Augusta Blvd
A charming new listing in West Town—stay tuned for details!
Listing Photos Courtesy of Compass
Looking to navigate the market with confidence? The team at Joanne Sells Chicago is here to help you buy or sell with strategy, clarity, and a little bit of hustle. Reach out today to get started.
