The Super Bowl Is Over. The Market Is Just Getting Started.

Current Market Conditions

The Big Game, The Big Shift

At this point, the Super Bowl might as well be an American holiday.

Everyone has plans. Everyone has food assignments. Everyone asks the same questions: Where are you watching? Who’s going to be there? What are you bringing?

And honestly, when you look back, it’s kind of wild how many great memories with family and friends came from Super Bowl parties, not because of the game itself, but because of the people, the food, and the tradition of it all.

I always joke it’s the second-biggest eating day of the year behind Thanksgiving. And honestly, that’s probably true.

But let’s be real, it’s rarely about the game.

It’s about who you’re with.
What kind of gathering it is.
What’s on the table, what’s in your cup, who brought the “good” dip.

It’s the commercials.
The halftime show.
The excuse to get everyone together one more time before winter finally lets go.

The Super Bowl is an event.
And once it’s over, that chapter closes.

Football goes into hibernation. Another season in the books.

But interestingly enough, while it’s the end of a season for football, it’s often the beginning of one for real estate.

Years ago, someone wrote that the best time to list your home was the day after the Super Bowl. They called it the unofficial kickoff of the spring market, a way for sellers to get out ahead before inventory started to build.

At the time, it sounded like an old wives’ tale.

Now? It’s more like a legend.

Because here’s the thing, people love deadlines. We need them.

January 1st sounds great in theory, but real life gets in the way. Holiday hangovers. Decorations still up. Kids back to school. Life catching up. Sellers know they want to list early, especially when inventory is historically low, but they need a target.

So they pick one.

The Super Bowl.

Every year, we see three major waves of inventory in the first quarter:

• Right after the New Year
• Right after the Super Bowl
• Right after Spring Break

Notice the pattern? Each one is tied to a holiday.

Lately, buyers have been asking the same questions:
“When will more inventory hit?”
“Will it always be this tight?”
“Is this just how it is now?”

Inventory will remain low overall, but it won’t stay this low.

After the Super Bowl, listings start coming more consistently. After Spring Break, we typically see more single-family homes and townhomes hit the market.

So whether your team won, lost, or you were just there for the food, we can say this much for sure:

The football season may be over…
but the listing season has officially begun.

And this is just the opening kickoff.

Demand dipped slightly this week, largely due to fewer Sunday showings around the Super Bowl. While some listings still saw strong traffic, overall activity was down, with demand expected to rebound next week.

New listings were lighter this week, largely due to some homeowners choosing to wait until after the Super Bowl before coming to market.

Rates dipped this week, a positive signal for buyer confidence.

Contract were up again this week, reflecting steady buyer demand.

Multiple offer situations should be considered the norm in the outskirts.

High rise properties are still seeing lower demand, particularly in the mid to luxury price ranges.

Open houses remain very crowded, as most first showings are happening there. Some are even seeing lines. While large crowds can feel discouraging, many attendees are just browsing, not all are serious buyers. High rise open houses, however, continue to see very light traffic. (if any at all)

Renters posing as buyers. As April and May rent renewals approach, more renters are exploring purchases. Many are genuinely interested but not fully prepared to act competitively, often pulling back when it’s time to write or push through minor issues. This group is a significant part of current buyer traffic and will remain a spring trend.

“Cash” offers that aren’t really cash. Many so called cash offers are backed by family funds, often parents, not the buyer directly. While buyers may still use financing later, having access to family cash is helping them win in competitive situations, an increasingly common strategy in this market.

Single Family Homes 
Single family homes remain the most sought after product in the market, and nothing has materially changed from last week. Entry level single family properties continue to perform the strongest. This coming week is one to watch. We typically see a noticeable increase in new listings immediately after the Super Bowl and in the weeks that follow. Even with that expected uptick in inventory, the market remains a seller’s market.

Lincoln Park, Lakeview, North Center, Roscoe Village
This remains one of the hottest locations in the marketplace. Entry level properties are seeing exceptional demand due to extremely low inventory and record high buyer interest. We are still not seeing many townhomes or duplex downs come to market yet, but that is something to watch closely. I expect a noticeable increase in those property types following the Super Bowl, with more consistent inventory coming online in the weeks ahead. Even with that expected increase, this remains a very strong sellers’ market.

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

West Loop
The West Loop is starting to pick up. Entry level condos are moving faster, and demand is stronger than this time last year. Mid tier priced properties are still taking longer to sell, while high end luxury units in sought after buildings are moving well. Momentum is building, and we are watching closely to see it continue. For now, this is a balanced market.

Old Town
Old Town remains extremely hot, with little change from recent weeks. Walk up properties continue to be the most sought after. Entry level units without in unit laundry are performing the weakest, though even those are still seeing solid activity. This week, keep an eye out for townhomes and duplex downs, and we could also see an uptick in single family listings. Overall, this remains a strong sellers’ market.

South Loop
The South Loop continues to struggle overall, though we are seeing increased demand at the entry level. Mid tier properties remain inconsistent, with showings coming in hit or miss. The luxury segment is very soft unless a property is priced aggressively and shows extremely well. The positive sign is that momentum is starting to build, and market conditions do appear to be improving. Overall, this remains a buyers’ market.

New East Side & The Loop
Not much has changed this week. This remains a low demand area overall. The positive is that entry level properties are selling. The main challenge continues to be the mid tier and luxury segments. Dated properties or homes priced too high are sitting, which has led to a buildup of inventory and is a key reason supply remains elevated. Well priced properties that show very well are selling, which was not the case a few years ago. Overall, this remains a strong buyers’ market.

River North, Streeterville, Gold CoastMomentum is continuing to build, and we have even seen multiple offer situations in the entry level segment. That is a notable shift, I have not seen that consistently since 2019. The challenge remains the mid tier and luxury markets. Inventory is high in those segments, and sellers often need to take meaningful price reductions to compete. Buyers have plenty of options and are being very selective, frequently submitting lower offers to see which sellers are the most motivated. Overall, this remains a strong buyers’ market.

The Big Picture:

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

• Downtown Core: Is a buyer’s market.