Data sourced from Altos Research. Updated every Tuesday.
This Week’s Market Story: The Frenzy Is Easing… But the Market Is Still Strong
For the first time this spring, the North Shore/North Suburban market feels a little less emotional. Not weak. Not slow. Just… more rational. And honestly, that may be the healthiest thing we’ve seen all year.
Across Highland Park, Deerfield, Northbrook, Glencoe, and Lake Forest, inventory is rising almost everywhere. Buyers have more choices. Homes are sitting a little longer. Some sellers are reducing prices. BUT at the same time, demand hasn’t disappeared.
Well-priced homes are still moving. Buyers are still active. And in several markets, seller conditions remain surprisingly strong despite inventory growth. That combination is creating something we really haven’t seen much of in the last few years: A MARKET WHERE STRATEGY MATTER MORE THAN SPEED!
Buyers Finally Have Something They Haven’t Had in Months: Choice
One of the biggest changes this week is inventory.
- Highland Park jumped to 49 homes
- Deerfield climbed all the way to 44 homes
- Northbrook increased again to 35 homes
- Lake Forest rose to 31 homes
That matters because buyers are finally able to compare homes instead of chasing everything immediately. A month ago, many buyers felt forced to stretch:
- stretching price
- stretching expectations
- sometimes even stretching neighborhoods
Now the market feels different. Buyers can pause. Think. Compare. Negotiate a little more. But here’s the important part: The good homes are still moving quickly. That’s especially true in Deerfield, where median days on market remain at just 7 days despite inventory nearly tripling from earlier spring levels.
Sellers Still Have Leverage — But Buyers Are Becoming Smarter
This week’s reports show something very important: The market is still favoring sellers overall… but buyers are no longer rewarding every listing equally. That’s a major shift.
Highland Park
Highland Park may be the clearest example. Inventory climbed to 49 homes. At the same time:
- 20% of listings reduced price
- demand softened slightly
- median list price moved to $1.2M
Translation: Buyers are still active — but much more selective.
Northbrook
Northbrook is actually one of the more optimistic stories this week. Even with inventory increasing to 35 homes, the market strengthened slightly from last month. Home sales have been exceeding new inventory for several weeks. That tells us demand is still stronger than many people think. Sellers who price correctly are still finding buyers.
The Luxury Market Is Quietly Becoming Opportunistic
The most interesting shift may actually be happening at the higher end.
Lake Forest
Lake Forest continues to behave like a “patience market.”
- 118 average days on market
- 29% relisted
- inventory at 31 homes
If inventory continues to grow relative to demand, we might see some downward pressure on pricing. That’s important because luxury buyers are not rushing right now. They are negotiating, comparing, and waiting for value.
Glencoe
Glencoe may be the most fascinating market this week. On paper, it still shows as a seller’s market. But the demand levels are low relative to available inventory. It’s a Buyer’s market and prices continue to fall somewhat. That disconnect matters because it tells us, similar luxury buyers are behaving very differently than buyers under $1M. Glencoe buyers are being extremely selective right now — especially above $2.5M.
First-Time Buyers: This Is the Best Setup We’ve Seen All Spring
This week may quietly represent the best opportunity first-time buyers have seen in months because inventory has risen meaningfully in places like:
- Deerfield
- Highland Park
- Northbrook
At the same time:
- rates have stabilized
- panic competition has eased slightly
- more listings are coming online
That does NOT mean the market is easy. But it does mean buyers finally have:
- more choices
- more negotiating opportunities
- more ability to think strategically
Sellers Sitting on Equity Still Have a Major Opportunity
If you’ve owned your home for years, this market is still incredibly favorable historically. Prices across these North Shore communities remain very elevated compared to pre-pandemic levels.
The difference now is that the market is rewarding:
- preparation
- pricing
- presentation
The sellers winning right now are the ones entering the market realistic, prepared, and positioned correctly from day one.
Mortgage Update
Mortgage rates were relatively stable this week, with the average 30-year fixed mortgage hovering in the mid-6% range. What’s notable is that buyers appear to have psychologically adjusted to rates far more than they had a year ago. At this point:
- inventory matters more than rates
- pricing matters more than rates
- lifestyle decisions are driving activity again
That’s a healthier market dynamic than what we saw during the ultra-low-rate frenzy years.
The Real Takeaway This Week
The North Shore/North Suburban market is no longer driven by fear of missing out. It’s becoming a market driven by:
- confidence
- selectivity
- strategy
That’s good for buyers. Good for sellers. And honestly, good for the long-term health of the market overall.
Bottom Line
The market is still strong. But now buyers are asking harder questions. And sellers who answer those questions correctly are still winning.
