Because Things Change Weekly
Lyn Wise Group · North Shore Market Intelligence Data: Altos Research · Single Family Homes · lynwisegroup.com · (312) 860-7294
WHAT IS THE MARKET ACTION INDEX?
MAI tells us if the market is getting more or less competitive, and who it favors, buyers or sellers. Above 30, sellers have the advantage. Below 30, buyers have the advantage. As always, when we call something an improvement, we'll say for whom.
WHAT YOU NEED TO KNOW THIS WEEK
Northbrook just extended its streak to nine straight weeks of MAI decline, from 71 all the way down to 46. That's the longest run we've ever tracked here, and price is now clearly following, median list price has dropped from over $1M just a few weeks ago to $949,000 today.
The quieter, more interesting story is Highland Park. It's relist rate hit a new low for the third week running, 38% to 26% to now 24%. That's not a single good week, that's a genuine, compounding trend that's easy to miss if you're only looking at this week's number in isolation. Glencoe continues cooling too, median days on market climbed to a new high of 88. Lake Forest showed its first small uptick in weeks, MAI ticked up slightly and inventory eased back down.
NORTHBROOK · IL 60062 MAI 46 · Strong Seller's Market · Inventory: 41 · Median DOM: 56 days
Nine weeks running now, 71 to 68 to 65 to 63 to 60 to 55 to 50 to 49 and now 46. Median list price has fallen right alongside it, down to $949,000, continuing the pattern where sustained softening in demand eventually shows up in what sellers ask.
For sellers, nine straight weeks of cooling plus rising mortgage rates means the pricing conversation keeps getting more urgent, not less. For buyers, this remains the most open market on the North Shore, by a wide margin.
HIGHLAND PARK · IL 60035 MAI 46 · Strong Seller's Market · Inventory: 38 · Median DOM: 49 days
Third straight week of a new low relist rate, now at 24%, down from 26% last week and 38% three weeks ago. This is the real hidden gem in this week's data, a slow, steady improvement that only shows up when you look across several weeks rather than just this one.
For sellers, this is genuinely durable progress, not a one-week fluke. For buyers, the entry tier is where the action remains, three homes absorbed against zero new listings.
DEERFIELD · IL 60015 MAI 41 · Slight Seller's Advantage · Inventory: 35 · Median DOM: 91 days
Median days on market climbed to a new high of 91, continuing a steady slowdown. New listings are entering at a much lower price point than usual this week, $539,000 versus a market median of $1,149,000, worth watching whether that shifts the mix going forward.
For sellers above $1M, patience remains the word. For sellers near $577,000, three new listings just arrived with no competition yet.
GLENCOE · IL 60022 MAI 36 · Slight Seller's Advantage · Inventory: 22 · Median DOM: 88 days
Three of four tiers had zero new listings and zero sales again this week. Median days on market climbed further, to a new high of 88.
For sellers above $2.4M, this remains a market asking for real patience. For buyers, there's still essentially no competition to worry about at the top.
LAKE FOREST · IL 60045 MAI 36 · Slight Seller's Advantage · Inventory: 45 · Median DOM: 63 days
A small but real positive sign, MAI ticked up slightly after weeks of easing, and inventory eased back down from 49 to 45. The entry tier looked genuinely balanced, three new listings against three absorbed.
For sellers, this is the first hint of stabilizing after a rough stretch. For buyers, entry level competition just picked back up slightly.
MORTGAGE UPDATE
The 30-year fixed rate kept climbing this week, edging toward 7% on several daily surveys and hitting the highest level in about a year, as markets priced in hotter than expected inflation data ahead of this week's Federal Reserve meeting. For buyers, especially first-timers, this adds real, ongoing pressure on top of already tight affordability. For sellers, especially in markets already softening like Northbrook, rising rates are part of what's pulling buyer demand down further.
Getting Wise About the Market. 🏡 The Lyn Wise Group is here. Reach out directly.
