(Lake Forest • Northbrook • Highland Park • Glencoe • Deerfield)
The market just shifted again — and the numbers may surprise you.
As we officially move into December, these North Suburbs are showing a new pattern: tightening inventory, subtle price adjustments, and diverging buyer demand between mid-priced and upper-tier suburbs.
For buyers, this means opportunity if you know where to look. For sellers, this is the moment when pricing precision makes or breaks outcomes.
Let’s break it down suburb by suburb.
SUBURB-BY-SUBURB BREAKDOWN
Deerfield (Most Competitive of the 5)
This week: Market Action Index (MAI) of 44 • Inventory 18 • Median List: $779,450
What changed: – MAI dipped slightly from 47 → 44, still a seller's market – Inventory tightened sharply from 21 → 18 – Prices softened a bit
What it means for buyers: Expect competition. Lower inventory means fewer choices — anything under $900K that shows well will move quickly.
For sellers: Even with the small MAI drop, this is still a strong seller’s environment. The buyers here are motivated and well-qualified. Proper pricing = fast activity.
Highland Park (Cooling but still seller-leaning)
This week: MAI 40 • Inventory 34 • Median List: $1,224,950
What changed: – Inventory dropped (38 → 34) – Median list price eased (likely mix of listings) – MAI held steady at 40
What it means for buyers: You have slightly more breathing room than a month ago, but not much. HP is still a seller-favored market with long-term buyer demand.
For sellers: Homes between $900K–$1.3M are still drawing attention. With lower inventory, well-presented listings stand out even more.
Northbrook (Notable improvement in seller advantage)
This week: MAI 39 • Inventory 33 • Median List: $1,749,000
What changed: – MAI jumped 35 → 39 (biggest gain of all 5 suburbs) – Inventory dropped dramatically (47 → 33) – Prices increased (likely driven by higher-end active mix)
What it means for buyers: Inventory is shrinking faster than expected — competition is returning, especially under $1.3M. Move quickly on homes that check the boxes.
For sellers: Momentum is shifting back in your favor. With lower supply, December may be a better selling window than usual.
Glencoe (Cooling upper-tier market but still low supply)
This week: MAI 34 • Inventory 13 • Median List: $2,995,000
What changed: – MAI dropped 37 → 34 – Inventory rose slightly (12 → 13) – Prices softened as luxury listings adjusted
What it means for buyers: Upper-tier buyers now have a bit more negotiating leverage. DOM remains long, and thoughtful buyers are being rewarded.
For sellers: Value clarity matters. Overpricing in this segment leads to extended market time — but well-positioned homes still win. The low inventory (13 homes!) helps maintain leverage.
Lake Forest (Slow but stable luxury market)
This week: MAI 34 • Inventory 43 • Median List: $1,949,000
What changed: – MAI dipped slightly (35 → 34) – Inventory dropped (48 → 43) – Median price increased modestly
What it means for buyers: Lake Forest continues to reward patient buyers. Homes are sitting longer, and negotiation windows are wider.
For sellers: This segment requires strong presentation and strategic pricing. The luxury buyer pool is active — but highly selective.
MARKET THEMES THIS WEEK
1. Inventory is tightening across nearly all 5 suburbs
Northbrook and Deerfield saw the biggest drops — a sign that buyers are still active even as we head into the holiday season.
2. MAI either held steady or dipped slightly
This reflects selective demand — buyers are buying, but not chasing.
3. Prices are stabilizing with some softening in the upper tiers
Luxury homes in Highland Park, Lake Forest, and Glencoe show slight price adjustments.
4. Sellers still hold the advantage — but it’s not automatic
The story now is strategy, not speed.
WHAT THIS MEANS FOR BUYERS & SELLERS
For Buyers:
✔ You have negotiation opportunities in upper-tier towns ✔ But you must move fast in Deerfield + Northbrook ✔ Rates stabilizing in the mid-6% range are helping affordability
For Sellers:
✔ Tight inventory is your friend ✔ Pricing right now, not “spring pricing,” is key ✔ Homes under $1.5M are still seeing strong engagement
CONCLUSION: This winter will favor the strategic — not the lucky.
These North Suburbs are entering a rare winter market where both sides have advantages, depending on the suburb and price point.
If you want the full data for your neighborhood or are thinking about buying or selling in 2025, now is the time to get ahead of the curve.
Stay informed — and Be Wise About the Market.
