What’s Happening in Highland Park, Glencoe, Wilmette, and More
The spring 2025 real estate market in Chicago’s north suburbs has brought both momentum and complexity. As we move into summer, here’s a deeper dive into what’s really happening across the key suburbs — and what buyers and sellers should be paying attention to.
🔄 Sales Activity Is Surging
One consistent theme across every north suburb? A spike in closed sales over the past 30 to 60 days. This spring has unleashed a rush of buyers, many of whom were waiting on the sidelines throughout 2023 and early 2024.
- Highland Park and Northbrook reported strong May activity, with closings picking up over 15% year to date over last year.
- In Glencoe and Winnetka, this surge is translating into multiple offers and fewer days on market, particularly for homes priced in the $1.2M–$2M range.
Buyers who had been holding out are now more active, but they’re also more selective. The demand is there — but expectations around value and condition are higher.
📉 Inventory Still Historically Low
Inventory remains the market’s biggest pressure point. Several towns are reporting levels that are 40–60% lower than typical pre-pandemic norms.
- In Wilmette, detached single-family inventory is tightest in the $800K–$1.2M segment — a sweet spot for young families and move-up buyers.
- Lake Forest, historically known for more balanced supply, is also seeing reduced options — particularly in newer construction or turnkey homes under $1.5M.
- Deerfield inventory has been slow to build this year, which is putting upward pressure on pricing in the $600K–$900K range.
This low inventory continues to benefit sellers, but it's also driving buyer fatigue. Homes that are overpriced or require significant updates are being skipped over by more buyers.
💲 Price Trends: Stable But Competitive
Prices remain strong across the board — especially when measured year-to-date.
- In Glencoe, median prices are hovering well above $1.5M, and anything priced below that often gets bid up quickly.
- Northbrook has shown particular resilience, with prices holding strong even in homes built 20+ years ago.
- Winnetka and Wilmette are seeing more strategic pricing — with sellers targeting high buyer demand while still offering perceived value.
The market is clearly not about chasing the highest possible price. Instead, strategic pricing that reflects location, updates, and layout is what is producing fast sales.
🏘️ Attached Homes Gaining Traction
A key shift this spring? Attached homes — townhomes and condos — are seeing stronger buyer interest.
- In Highland Park and Deerfield, demand for newer townhomes with first-floor primary suites or low-maintenance setups has surged.
- Lake Forest is seeing a similar trend, with attached properties drawing in downsizers looking for turnkey options close to the lake or downtown.
This segment had lagged in 2023 but is now viewed as a smart buy, particularly for downsizers and first-time buyers who were priced out of the detached market last year.
📅 Fast Sales – But Only When Priced Right
Across all suburbs, the pattern is clear: Well-prepped homes that are priced correctly are selling fast — often in under 10 days.
- All of the suburbs are seeing quick movement on homes with updated kitchens, open layouts, and minimal deferred maintenance.
- Homes that linger are often overpriced or poorly presented — even in a low-inventory environment.
Buyers are watching carefully, and they’re willing to wait or bypass listings that don’t feel like a fit. Sellers need more than just demand — they need a pricing and marketing strategy that aligns with the current buyer expectations.
🔍 Suburb-by-Suburb Highlights
Highland Park
- Strong surge in closed sales up 8.5% over the same time last year and 24.3% over 2023
- Attached homes gaining traction
- YTD prices show solid recovery as the median sales price is up 16.9% over last year
- Still highly competitive under $1M
Glencoe
- Median prices continue to climb, with demand strong around $1.5M
- Attached homes are moving faster than in prior years
- Strategic pricing is key — buyers expect updated homes
Wilmette
- Inventory tightest in $800K–$1.2M range
- Fast movement on move-in ready homes
- Townhomes and duplexes are getting more attention
Winnetka
- High-end market still strong, but more balanced than 2022
- Inventory under $2M is particularly scarce
- Well-staged homes are going in days
Northbrook
- One of the most active spring markets across the North Shore as closed sales are up 17.6% and the current number of homes for sale is up 31% over last year.
- Homes in mid-range price points ($600K–$1M) moving fast
- Attached homes are also gaining popularity
Deerfield
- Very limited inventory in family-sized homes, the lowest of any suburb
- Strong demand under $900K
- Buyers are favoring move-in ready over larger fixer-uppers
Lake Forest
- The months’ supply of inventory is, by far, the highest of any suburb, at 2.7 months, but there is more competition in luxury segment than in early 2024
- Newer construction and townhomes under $1.5M are highly sought after
- Detached homes with updates continue to outperform
🧭 Final Takeaway
The north suburban market is not what it was in 2022 — but it’s not a slowdown either. It’s a smarter, more strategic market, where buyers want value and sellers must position their homes to meet real demand. That said, prices are up across the board, and you will get a good price if you work smart and strategically with the right agent. Similarly, on the buy side, with higher prices, but more homes on the market, working with the right agent can help you find the right home at the best possible price.
If you’re thinking about making a move, now is a great time to evaluate your options. Let’s talk about how the current trends in your town could work in your favor — whether you’re buying, selling, or planning for later this year.
