Spring Surge? Is Chicagoland’s Market Heating Up or Holding Back?
Honestly, the Spring 2025 market has been an interesting one, if you ask me.
Yes, things are moving and prices are still rising. Competition hasn’t disappeared. But we’re starting to see a shift in how people are buying. Not across the board of course, but in enough cases to notice: there’s less impulse and more calculation happening. Buyers are certainly active, but they’re approaching the process more intentionally. And while we can debate what’s driving any of this, if you’re someone working in this industry right now, I think we all can feel somewhat of a shift this season: decision-making is changing.
If you’re thinking about selling your property, I want to say this as clearly as I can: impeccable strategy matters more than ever. How your listing agent approaches: pricing, presentation, and marketing will directly impact your outcome. What worked a year or two ago often doesn’t apply. So yes, the latest numbers do confirm growth this spring (2025), but they also point to something else: a market that’s moving with nuance. So let me try to break some of this down for us.
Home Prices Continue Their Climb (Especially in Chicagoland)
Nationally, home prices rose again in March, according to the S&P CoreLogic Case-Shiller Index. The U.S. saw a 3.4% year-over-year increase, and a 0.8% monthly gain—the strongest monthly movement so far in 2025. That monthly uptick is important. Spring always brings renewed market energy, but this year, it also marks a shift from “resilience” to seasonal recovery, in the words of S&P’s Nicholas Godec.
Here in Chicago, the momentum has been even stronger. Home prices surged 6.5% from last year, which is the second-highest annual gain of any metro in the country. This increased 1.17% just from February to March.
That is not just seasonal movement my friends… This is demand meeting scarcity in a market still defined by tight inventory and high desirability. But (and this is key) it’s nottttttt just price that’s changing. It’s pace!
Suburban Sales Slowing? Yet Pricing Power Remains
In April 2025, suburban data from Mainstreet REALTORS® adds another layer to the story. The median sales price for detached homes rose to $405,000, up from $385,000 a year ago, crossing the $400K threshold for the first time since spring 2024. This marks 24 consecutive months of price gains.
Detached Single Family Homes:
Median Sales Price
April 2024: $385,000
April 2025: $405,000
But, the pace of activity is softening:
Detached home sales dropped 4.3% year over year.
Days on market rose from 41 to 46 days.
Attached homes (condos, townhomes, etc) saw a steeper slowdown—sales dropped 7.2%, and days on market rose 44% to 36 days. Yet… even still, attached homes still appreciated 2.5%, hitting a median price of $270,000.
The story this tells? Can’t say for sure. But I don’t believe we’re in a market “slowdown.” It’s more like a market recalibration. Buyers are still showing up, but they’re moving with an increase in caution, research, and more discernment.
“Buyers are active, but they’re taking a little longer to commit.” — Mainstreet CEO John Gormley
“We’re still seeing strong demand, but buyers today are weighing value carefully, even in bidding wars.” — Mainstreet President Connie Vavra
(Btw, Mainstreet is simply a local Realtor association in Illinois that many suburban agents are a member of, including myself).
Mainstreet’s President echoes essentially what I’m trying to get across: Yes, there are still multiple-offer situations. But what wins today is not justtttt pricing power. It’s perceived value.
Where “Turnkey” is King
I know what you’re thinking. “Amanda, what does ‘perceived value’ mean in this context then?”
Well, it’s not just pretty counters and a fresh coat of paint. ‘Turnkey’ right now is realistically speaking about the full (or almost full) package. I’m talking updated or new(er) systems, functional layouts, thoughtful home staging, smart pricing, aaaaand strategic presentation including marketing (a total side note: The National Association of Realtors (NAR)’s 2025 Report found that 29% of real estate agents said that staging a home led to offers 1% to 10% higher than un-staged homes! A topic for another conversation maybe?)
Getting back on topic haha, homes that are “move-in ready” in the $300K–$500K range are still seeing ultra-fast activity and strong offers. But even at higher price points, the differentiator is clear: homes that are dialed in, both in condition and in ‘positioning’ are commanding attention.
I’ve put together a (hopefully) helpful snapshot of April 2025 Median Sales Prices across many of our Chicagoland suburbs:
It’s a wide range, but the common thread is consistency: suburbs with strong school systems, walkable downtowns, or updated inventory are continuing to perform. These markets are commanding not just price, but buyer commitment (even as buyers grow more careful).
Soo… What Should Buyers or Sellers Gather From Spring 2025 Numbers?
We’re not seeing this crazy frenzied market, but we are seeing a firm one. Prices are holding, equity remains strong, and even with affordability constraints, the demand for quality homes hasn’t faded at all. It’s just more focused, if that makes sense.
If you’re a buyer or you’re someone who could be buying in the next 6-12 months or so, I would urge you to not mistake slower pacing for better deals across the board. That said, yes— I do think (especially come Q3 & Q4) we may find a little more room for negotiation and thoughtful decision-making. However, if you are someone that’s set on buying within any of Chicagoland’s ‘hot’ neighborhoods— standout homes will bring competition and today we are still seeing these go under contract incredibly quickly. Buyers, your edge lies in: having strong representation, sharp tools (like tailored real-time search alerts & private-market / agent-only network access through your Realtor), as well as a crystal clear understanding of what’s worth stretching for, for you.
If you’re a seller, pleeeaasee understand (and do not underestimate) how much your home’s pricing strategy, complete presentation, and allll the little pre-market preparations truly impact your outcome. Every detail matters, no matter how confident and ‘experienced’ a listing agent says they are. How your home is positioned before it even hits the market can make all the difference. And if you want to learn more about what I mean by this, just send me a message.
And lastly, if you’re a homeowner watching from the sidelines: if you’ve owned your home for even as little as year or two, you’re likely sitting on more equity than you realize. Prices have simply continued to climb, and if you bought between ie. 2020-2023, you could be sitting on a significant gain without realizing it.
Trust me, I get it. The idea of giving up a low—low-ish interest rate can feel like a deal-breaker. But for some, that equity could open doors to opportunities you didn’t know were on the table (whether that’s upsizing, downsizing, investing, or just planning ahead). So… now could be a good time for us to connect—even if it’s only to explore your options. Not necessarily because you’re ready to make a move, but simply because it’s worth understanding what’s possible and what your current home positions you at equity-wise in today’s market.
Empowering consumers and my clients with knowledge and thoughtful updates is truly a core value of how I operate my business as a Realtor in the Chicagoland area. No pressure, no expectations. I’m here to provide you honest guidance, rooted in data and my perspective. So if you think a quick check-in could help set the stage for smarter decisions down the road for you, let’s chat!
If you want to talk through what this market means for you, whether that’s buying, selling, or just staying informed—I’m always here to be a resource for you and your friends & fam!
Stay happy and healthy,
