📊 Big Picture
This week’s data confirms what’s been developing all winter across the North Suburbs:
we are no longer in a single market — we’re in a collection of very different micro-markets.
Compared to last week, buyer demand remains strong in mid-priced suburbs, while upper-tier and luxury markets continue to cool at a measured pace. Inventory remains tight overall, but where inventory is shrinking, seller leverage is strengthening quickly.
This is no longer a momentum market.
It’s a precision market, where pricing, preparation, and suburb-specific strategy matter more than timing alone.
📈 Suburban Trends
Mid-Priced Suburbs — Still the Most Competitive
Buffalo Grove
• MAI: 55 (flat vs. last week)
• Inventory: 6 homes (down from 7 last week)
• Median List Price: $532,000 (up from ~$505K)
Buffalo Grove remains one of the tightest seller’s markets in the North Suburbs. Even with a stable MAI, the continued inventory decline is keeping buyer pressure high. Homes that are priced correctly are still moving quickly.
Deerfield
• MAI: 47 (up from 43 last week)
• Inventory: 14 homes (unchanged week-over-week)
• Median List Price: $849,000 (down from last week’s elevated mix)
Deerfield strengthened again this week. Rising MAI confirms increasing buyer demand, and inventory remains extremely limited. This is one of the clearest seller-advantaged markets right now.
📌 Takeaway:
Buffalo Grove and Deerfield continue to be the most competitive environments for buyers, with sellers holding firm leverage.
Balanced Markets — Selective but Seller-Leaning
Glenview
• MAI: 43 (down from 45 last week)
• Inventory: 26 homes (up slightly week-over-week)
• Median List Price: $964,000 (down modestly)
Glenview is showing clear signs of cooling. Buyers are still active, but price sensitivity is increasing — especially above $1M. This market is becoming more balanced.
Highland Park
• MAI: 42 (flat vs. last week)
• Inventory: 22 homes (unchanged)
• Median List Price: $1.199M (steady)
Highland Park remains stable. Demand is holding, inventory is tight, but pricing has reached a plateau. Sellers still have the edge, but only when pricing aligns with current buyer expectations.
Northbrook
• MAI: 38 (up from 36 last week)
• Inventory: 30 homes (up slightly)
• Median List Price: $1.475M (down from ~$1.75M last week due to listing mix)
Northbrook showed renewed buyer activity this week, even as inventory ticked up. This remains a slight seller’s market, but buyers have more leverage here than in nearby towns.
📌 Takeaway:
These markets reward realistic pricing and strong presentation. Overpricing is punished quickly.
Upper-Tier & Luxury — Cooling but Controlled
Glencoe
• MAI: 29 (down from 31 last week)
• Inventory: 13 homes (flat)
• Median List Price: $3.199M (up slightly)
Glencoe remains in a buyer-leaning market by MAI, even as prices rise due to higher-quality listings entering the market. Days on market remain long, and buyers are patient and selective.
Lake Forest
• MAI: 33 (down from 34 last week)
• Inventory: 29 homes (unchanged)
• Median List Price: $2.399M (steady)
Lake Forest continues to cool gradually. Inventory is not excessive, but demand has softened enough that sellers must be realistic to generate activity.
📌 Takeaway:
Luxury markets are stable — not distressed — but buyers have negotiating power, especially above $2M.
Luxury Standouts — Still Tight
Wilmette
• MAI: 50 (down from 56 last week)
• Inventory: 13 homes (up from 8)
• Median List Price: $1.695M
Wilmette cooled slightly this week, but it remains firmly in seller territory. Inventory remains low by historical standards.
Winnetka
• MAI: 49 (up from 46 last week)
• Inventory: 12 homes (up slightly)
• Median List Price: $1.895M
Winnetka strengthened this week as buyer activity increased. Despite higher price points, demand continues to outpace supply.
📌 Takeaway:
Wilmette and Winnetka remain luxury power markets with very limited inventory.
💡 Key Insights This Week
• Inventory tightened again in Buffalo Grove and Deerfield
• Glenview is cooling fastest among mid-priced suburbs
• Northbrook demand improved despite higher inventory
• Luxury buyers have leverage in Glencoe and Lake Forest
• Sellers retain strongest leverage in Buffalo Grove, Deerfield, Wilmette, and Winnetka
💰 Mortgage Rate Update
Mortgage rates stabilized this week, with 30-year fixed rates generally ranging between 6.25% and 6.5%, depending on credit profile and lender. This stability is helping buyers stay engaged, particularly in the $700K–$1.3M range, but affordability remains a key factor — reinforcing the importance of accurate pricing.
🧭 Final Thoughts
This week made one thing very clear: success in today’s market depends on understanding your specific suburb — not just the headline market.
Some towns reward speed. Others reward patience. Knowing the difference is where real value is created.
As always — stay informed, stay strategic, and Be Wise About the Market.
