North Side Sales Dance: Buyers Pay More, Act Quickly
- Jul 20
- 4 min read
By Don DeBat
Chicago’s North Side home buyers will continue to pay more, and should “act quickly” this summer to grab their share of the American Dream.
That’s the advice of 26-year veteran Baird & Warner real estate broker May Jo Nathan, author of the “Chicago North Side Market Report.”
The exclusive survey analyzed 2nd quarter April through June of 2026 single-family home and attached townhome and condominium sales in nine neighborhoods—Edgewater, Lake View, Lincoln Park, Lincoln Square, Near North Side, North Center, Rogers Park, Uptown and West Ridge.
“The competition for homes can be intense right now,” noted Ms. Nathan, who is based in the Baird & Warner North Center office at 4037 N. Damen Ave. Ms. Nathan recently was involved in making an offer on a condominium that attracted 18 offers in all.
“Our offer was all-cash and well above the list price, and we still did not get the property,” Ms. Nathen revealed. “Fortunately, we were successful in another very competitive offer situation a few weeks later for an equally appealing unit. Especially for newly listed properties, this can be a brutally competitive environment for buyers.”
Looking ahead, John Irwin, another Baird & Warner broker on the North Side, gave this forecast: “Inventory is expected to remain the primary factor influencing market performance in 2026.” Unless listing activity increases meaningfully, the market should continue to favor sellers with stable pricing and continued competition for quality properties.”
2nd quarter 2026 sales report
Baird & Warner reported that 2nd quarter 2026 sales activity in the North Side housing market softened slightly, as buyers faced intense competition for a dwindling number of listings.
Sales for the quarter totaled 2,724 properties, a dip of -3.7% from one year earlier, while the for-sale inventory fell -22.8% to only 1,125 properties. That is in sharp contrast to the 3,697 properties listed for sale at the end of just June five years ago.
At the same time, the median sales price for all North Side homes rose 6.4% for the April-
June period to $500,000, the highest quarterly median ever recorded in this market segment.
And, buyers were moving quickly to grab those properties that were available, with the
average listing sold during the quarter going under contract in a rapid 38 days—down from 50 days a year ago.
Mortgage rates at 6.55%
On July 16th, Freddie Mac’s Primary Mortgage Market Survey reported that benchmark 30-year fixed home loans nationwide averaged 6.55% up from 6.49% a week earlier. A year ago, 30-year fixed rate loans averaged 6.75%.
Sam Khater, Freddie Mac’s chief economist, said: “Although purchase-application demand
weakened recently, the backdrop for prospective home buyers is modestly improving.”
Freddie Mac reported that rates on 15-year fixed mortgages averaged 5.93%, up from last
week when it averaged 5.82%. A year ago, 15-year loans averaged 5.92%.
The survey is focused on conventional, conforming, fully amortizing home-purchase loans
for borrowers who place a down payment of 20% and have excellent credit.
Single-family home analysis Baird & Warner said inventory issues continued to plague the North Side single-family home market. Only a sparse 90 homes were listed for sale as of June 30th across the entire North Side market. That is -37.5% fewer than a year ago.
Nonetheless, sales held up surprisingly well, rising 2.2% from the same quarter last
year, with 282 properties changing hands. The median sales price rose 15.4% to a quarterly
record of $1,702,500, which means half the homes sold were at that price or higher.
That is not only a record median sales figure for any quarter but represents an increase of 8.3% over the prior-high quarterly median, which occurred in the third quarter of 2025.
The time it took for homes sold during the quarter to go under contract was 45 days—16 days less than one year earlier. Sales rose in four of the nine North Side neighborhoods—Lake View, Lincoln Square, North Center and Near North/Gold Coast. Sales were unchanged in Rogers Park. Edgewater, Lincoln Park, Uptown and West Ridge
posted sales declines.
Prices rise in hot areas
Eight neighborhoods posted an increase in median sales price, highlighted by gains of 62.5% in Uptown, 50.9% in Rogers Park, and 31.8% in Edgewater. Lake View, Lincoln Park, Lincoln Square, Near North/Gold Coast and West Ridge also had gains, while the median price fell -2.7% in North Center.
Condos and townhomes
Sales of North Side attached homes—condos, townhomes and co-ops—fell by -4.4% for the
second quarter on 2,442 transactions. However, the median sales price rose to $450,000, which is also a quarterly record, topping the prior high set one year earlier by 4.7%.
Attached sales rose only in Lake View, up 6.4%, and North Center, up 3.3%. Declines ranged from a high of -37% in Lincoln Square to just -1.1% in Edgewater. Average time on the market was 37 days, down 12 days compared with the same quarter last year.
Attached home prices rise
The median sales price for condos, townhomes and co-ops moved higher or was unchanged in eight of the nine North Side neighborhoods.
North Center led with a median price increase of 15.2%. Rogers Park posted a 13.2%
gain, followed by 12% in both Lincoln Park and Lincoln Square. Median prices fell -5.2% in Edgewater.
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For more housing news, visit www.dondebat.biz. Don DeBat is co-author of “Escaping Condo Jail,” the ultimate survival guide for condominium living. Visit
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