August 3, 2026 — 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 Mary Jo Nathan, author of the “Chicago North Side Market Report.”
The exclusive survey analyzed 2nd quarter of 2026—April through June—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 Nathan, who is based in the Baird & Warner North Center office at 4037 North Damen Avenue. She recently placed an offer on a condominium that was one of 18 total offers submitted.
“Our offer was all-cash and well above the list price, and we still did not get the property,” Nathan recalled.
Looking ahead, John Irwin, another veteran Baird & Warner broker on the North Side, offered a measured forecast for the remainder of the year.
Q2 sales cool slightly as North Side prices hit record highs
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 percent from one year earlier, while the for-sale inventory fell 22.8 percent to only 1,125 properties. That stands in sharp contrast to June 2021, when 3,697 properties were listed for sale.
At the same time, the median sales price for all North Side homes rose 6.4 percent 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 tick up to 6.66 percent, but buyer outlook remains resilient
On July 30, Freddie Mac’s Primary Mortgage Market Survey reported that benchmark 30-year fixed home loans nationwide averaged 6.66 percent, up from 6.58 a week earlier and 6.55 percent two weeks earlier. A year ago, 30-year fixed rate loans averaged 6.72 percent.
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 6.04 percent, up from 5.96 a week earlier and 5.93 percent two weeks earlier. A year ago, 15-year loans averaged 5.85 percent.
The survey is focused on conventional, conforming, fully amortizing home-purchase loans for borrowers who place a down payment of 20 percent and have excellent credit.
Tight inventory drives North Side single-family prices to new record high
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 30 across the entire North Side market. That is 37.5 percent less than a year ago.
Nonetheless, sales held up surprisingly well, rising 2.2 percent from the same quarter last year, with 282 properties changing hands. The median sales price rose 15.4 percent 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 percent 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.
Neighborhood price gains drive attached home market to record $450,000 median
Eight neighborhoods posted an increase in median sales price, highlighted by gains of 62.5 percent in Uptown, 50.9 percent in Rogers Park, and 31.8 percent 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 percent in North Center.
Sales of North Side attached homes—condominiums, townhomes, and co-ops—fell by 4.4 percent 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 percent.
Attached sales rose only in Lake View, up 6.4 percent, and North Center, up 3.3 percent. Declines ranged from a high of 37 percent in Lincoln Square to just 1.1 percent in Edgewater. Average time on market was 37 days, down 12 days compared with the same quarter last year.
North Center led attached home gains with a median price increase of 15.2 percent. Rogers Park posted a 13.2 percent gain, followed by a 12 percent gain in both Lincoln Park and Lincoln Square. Median prices fell 5.2 percent in Edgewater.
