Blog

What is really happening in the Western Suburbs of Chicago and why does our market seem to be behaving so differently from the national housing trends? I asked Mike Simonsen, Compass' national expert on real estate market trends, to weigh in and validate what many of us have been seeing firsthand in our local market. Much of the analysis below reflects his market observations and conclusions about the trends we are experiencing.

The Western Suburbs real estate market is heating up, with low inventory and strong appreciation creating a prime opportunity for sellers. Buyers face a competitive landscape, especially with new agency agreement requirements and an increase in cash purchases. Navigating this market successfully requires a strategic approach. With expert guidance, including complimentary staging consultations and tailored buying strategies, clients can position themselves for success. 2025 is shaping up to be a great year for real estate, whether buying, selling, or both.

Colleen C. Wilcox’s August 2024 Market Report brings great news for those in Chicago’s Western Suburbs—our real estate market is as vibrant as ever! With inventory levels staying well below the typical six-month benchmark, sellers continue to have the upper hand. Home prices are climbing, thanks to high demand and limited supply, especially for move-in-ready properties that capture buyers’ hearts. As new regulations take effect requiring buyers to have a signed agreement with their agent before viewing homes, Colleen’s personalized approach and market insights are more valuable than ever. She’s here to help you navigate the market with confidence and achieve the best results. Reach out to Colleen to chat about your next steps—she’s excited to help!