If you’re watching the headlines, you’d think higher interest rates brought the housing market to a halt. On the Northwest Side of Chicago, that’s simply not the case. What we’re seeing instead is a tight, strategic market where the right moves still win.
📉 Interest Rates: The New Normal
Interest rates remain higher than the ultra-low levels of a few years ago, but buyers and sellers are adapting. Many homeowners are holding onto low-rate mortgages, which means fewer homes are coming to market. That limited inventory is keeping prices steady — and in many cases, rising — across the Northwest Side.
Translation:
- Buyers are being more intentional (and serious).
- Sellers who price correctly are still seeing strong activity.
- Well-maintained homes are standing out quickly.
📍 Neighborhood-by-Neighborhood Snapshot
Portage Park
Portage Park continues to be a go-to neighborhood for buyers looking for space, classic Chicago housing stock, and long-term value. Inventory remains limited, and homes that are updated or well-priced are moving efficiently. We’re seeing solid demand from both first-time buyers and move-up buyers who want more room without leaving the city.
Jefferson Park
With easy access to the Kennedy, Metra, and Blue Line, Jefferson Park remains a commuter favorite. Single-family homes are especially competitive here, and turnkey properties continue to command strong prices. This area is holding its value exceptionally well despite market shifts.
Norwood Park & Edison Park
These neighborhoods remain some of the most stable and desirable on the Northwest Side. Buyers are drawn to the suburban feel, strong school options, and tight-knit community vibe. Inventory is especially low here, giving sellers a noticeable advantage when homes are priced and marketed correctly.
Dunning & Forest Glen
Dunning continues to attract buyers looking for affordability and space, while Forest Glen’s limited inventory and premium location keep demand high. In both areas, homes with updated kitchens, baths, or finished basements are outperforming the broader market.
Bordering Niles
Homes near the Niles border remain highly desirable for buyers who want proximity to suburban amenities while keeping a Chicago address. We’re seeing consistent demand and strong buyer interest in this pocket.
📊 What We’re Seeing Overall
- Inventory is tight across the Northwest Side
- Days on market remain reasonable, especially for well-priced homes
- Buyers are cautious but motivated
- Sellers still have leverage, particularly in Norwood Park, Edison Park, and Jefferson Park
This is no longer a “throw it on the MLS and see what happens” market — strategy matters more than ever.
🚀 What This Means for You
Thinking of Selling?
Low inventory means buyers are watching closely. A smart pricing strategy, strong presentation, and targeted marketing can make a major difference in your final sale price.
Thinking of Buying?
Yes, rates are higher — but competition is more manageable than in past years. The right guidance can help you spot opportunities and avoid overpaying.
📞 Let’s Build Your Game Plan
The Northwest Side market is hyper-local, and national headlines don’t tell the full story. If you’re considering buying, selling, or just want to understand what your home is worth in today’s market, let’s talk.
Stephanie Welter | The Welter Group
📱 773-218-2535
📧 stephaniewelter@kw.com
🌐 weltergroupre.com
Whether you’re planning a move now or six months from now, the best first step is a conversation — and we’d love to help you make the most of this market. 🏡✨
