Market Update | April 2026

Current Market Conditions

I’m a big holiday guy.

You probably wouldn’t describe me that way, but it’s true. Holidays always get me. Maybe it’s because I never slow down, and it’s one of the few times I actually do. Or maybe it’s just getting older.

Either way, I love them.

Easter was always a big deal in my family.

We grew up South Side Catholic, and for whatever reason, our house was always the house everyone came to.

But the main event was always the Easter egg hunt.

And for me and my older brother Luke… it wasn’t just a hunt.

It was competition.

We grew up in a family where there was always some level of comparison. It felt like it was always the same story, someone else was doing something better. I swear, if I had to hear one more time about the family down the street’s kids being better at sports and better in school, I was going to lose it.

So anytime there was something we could compete in, we took it seriously.

And Luke, especially when we were younger, didn’t like me very much.

He definitely didn’t like losing to me. At all.

So when it came to these Easter egg hunts… he took them personally.

The eggs had anywhere from a dime to a dollar in them, but there was always one egg that had a $20 bill.

That was the one.

We weren’t just trying to find eggs, we were trying to win.

Now, every house had that one room growing up, the one you weren’t supposed to go in.

Ours had all the antiques in it.

I hated that room.

You couldn’t touch anything. Couldn’t run. It just felt off limits.

But every year during the hunt… that room had some of the best eggs.

And for whatever reason, I never went there first.

I think subconsciously, I just followed the rules. In my mind, that room was still off limits—even when it wasn’t.

Luke didn’t think like that.

He never really followed the rules anyway.

The second the hunt started, he would make a beeline straight for that room.

And every year… he’d come out of there with the best eggs.

He never lost. He always got the one with the $20 bill. Every time.

And the reason I’m thinking about all of this… is because the market right now feels a lot like that Easter egg hunt.

For the past couple weeks, things have been quiet.

But this week, everyone runs into the yard at the same time.

We haven’t seen as many buyers the past few weeks, not because demand disappeared, but because a lot of people were traveling and hard to pin down.

But that’s over.

And if you thought demand was strong before… just wait.

This is the last big push. The final surge of demand this season.

Open house lines are about to double.

At the same time, inventory is going to jump as well.

Sellers naturally think the best time to list is April through August, and most wait until after spring break to hit the market.

So if you’ve been waiting for more options… this is the moment you’re going to start seeing them.

But just like that egg hunt, more options doesn’t mean less competition.

It means more people looking.

And if you thought contracts and multiple offers were aggressive before… this is where it gets real.

Just like back then… everyone’s in the yard now.

Demand dipped slightly this week, which is typical with spring break and Easter, but expect that to change quickly next week.

Listings were down significantly this week due to the holiday, but we expect that to reverse next week.

Rates moved higher this week, largely driven by ongoing global uncertainty.

Contract remained high this week.

Multiple offer were on par with last week, even with slower activity. With less inventory coming on, the buyers that were active still competed aggressively.

The downtown high rise market continues to struggle, particularly in the luxury segment where properties that are dated or priced too high are seeing limited demand.

This past week was a pause, but it’s setting up for a surge. Expect a wave of buyers and listings to hit at the same time next week.

Global uncertainty is starting to creep in. The Iran conflict has pushed rates higher, which is beginning to impact buyer confidence.

Even with that, demand hasn’t gone anywhere. Buyers are still active, and with limited inventory, competition remains strong.

We’re seeing a noticeable rise in empty nesters and out-of-state buyers, which is giving new life to the high-rise and luxury condo market.

Next week is a key inflection point, more inventory is coming, but so is more competition. More options doesn’t necessarily mean easier conditions.

Single Family Homes 
Single-family inventory took a big step back this week, which we expected with spring break and Easter. Demand continues to surge, and with so little coming on, anything that hit the market was quickly absorbed. This remains the hottest and most competitive segment right now. The next couple weeks will be a strong indicator of how the market shapes up heading into summer if inventory starts to build, but for now, it’s still a big seller’s market.

Lincoln Park, Lakeview, North Center, Roscoe Village
This segment remains extremely hot, especially at the entry-level price points. Many of these buyers have April, May, or early June lease expirations, which is starting to create urgency and, in some cases, fatigue. We’re seeing some buyers step back altogether, but even with that, demand still far exceeds supply. Duplex-downs and townhomes continue to be the unicorns of the market. Inventory was light again this week, but we expect more to come on next week. Overall, this remains a strong seller’s market.

West Town, Wicker Park, Bucktown, Logan Square, Avondale
Same as above.

West Loop
West Loop continues to see a surge in demand. Not much has changed structurally, it’s still being driven by relative affordability compared to West Town and surrounding areas. New construction and high-end, trophy properties are outperforming and helping bring the luxury segment back. Inventory was light this past week, but we expect more to hit next week. A lot of the demand is coming from people returning to the office. For now, this remains a balanced market.

Old Town
Old Town continues to look like it has the past few weeks, it’s hot. Really hot. Walk-ups are in high demand, and there’s virtually no inventory to speak of. Duplexes and townhomes are still extremely hard to find. Overall, this remains a strong seller’s market.

South Loop
The South Loop is starting to pick up. While new inventory remains limited, demand is building as buyers look for value, and they’re finding it here. Well-priced townhomes are performing especially well. Like other areas, inventory was light this week, but we expect momentum to continue building. This still leans toward a buyer’s market.

New East Side & The Loop
The New East Side and Loop have been a bit tricky, but we are starting to see improvement. Demand is being driven primarily by out-of-state and empty nester buyers. Pricing still matters here, units need to be positioned well to sell. That said, we are seeing properties move, especially those that are fully updated with strong finishes. It was another light week for new inventory, but we expect more to hit next week. Overall, this remains a balanced market.

River North, Streeterville, Gold Coast
This area is seeing increasing demand. While this past week was lighter for both activity and inventory, momentum is building. Entry-level demand is being driven by buyers priced out of the outskirts, something we don’t see often, with Gold Coast now offering more value than areas like Logan Square. We’re also seeing the higher-end market get new life, driven by empty nesters and out-of-state buyers. For properties to sell, they still need to show well and be priced competitively, but the upside is clear, things are moving. Overall, this remains a balanced market.

The Big Picture:

• Outskirts: It remains a seller’s market across all categories, 

• Downtown Core:  Is feeling more like a balanced market.