The Tag Doesn't Define the Outcome

Current Market Conditions

When I was a kid, I struggled with my weight.

Not huge. Just a little husky.

I wasn’t blessed with the genetics of running skinny. I ran thicker than most of my friends, and in elementary school, that felt like a spotlight.

What I didn’t realize until I was older was what my mom was quietly doing behind the scenes.

She would buy clothes from different stores and put them in nicer bags so I thought they were something special. She’d cut the tags off my husky pants so I wouldn’t see the size. So I wouldn’t label myself before anyone else had the chance to.

My brother? He ate like garbage. Didn’t work out. Stayed lean. And he reminded me of that often.

My parents would always say, “Some people are born with certain gifts. Some aren’t. You just have to work harder.”

That was one of my first real lessons in discipline.

Back then, McDonald’s was a lifestyle. Birthday parties at McDonald’s. After games at McDonald’s. Friday nights? McDonald’s. But I couldn’t live there like everyone else. I had to watch it.

So I worked.

I played hockey. Skated every day. Started lifting in 6th grade. While other kids coasted, I counted reps. While they ate whatever they wanted, I made trade-offs.

The tag on my pants might have said one thing.

But I never saw the tag.
I saw the goal.

And I learned something that applies just as much today as it did then:
If it doesn’t come easy, you adjust the strategy and put in the work.

That’s exactly where our market is right now.

Inventory is still tight. Demand is still real. And sellers are learning a powerful strategy:
Ask less to get more.

If a seller thinks their home is worth $525,000, they’re not listing it at $525,000.
They’re listing it at $499,000 or $500,000.

Why?

Because pricing just under market pulls more buyers into the gym.

More showings.
More interest.
More offers.
More competition.

And when competition shows up, emotion shows up.

That $525,000 home doesn’t sell for $525,000.
It sells for $550,000… sometimes $575,000.

But here’s the part that’s been tough for buyers:
If you don’t understand the strategy, it feels discouraging.

You think you’re shopping in the $500s, but you’re competing in the mid-$500s.

You submit one offer and lose.
Maybe two.
Maybe ten.

And just like I had to learn I couldn’t coast through genetics, buyers are learning they can’t casually win in this market.

You have to see more homes.
Write stronger offers.
Understand pricing psychology.
Work harder at the details.

Because if a home looks “priced about right,” buyers hesitate. They assume the seller is unrealistic. They don’t want to waste reps on something that feels heavy before they even lift it.

But when something looks priced low?
They treat it like a Powerball ticket.

The odds might be slim.

But it’s worth taking the shot.

This is why pricing correctly, strategically, matters more than ever.

Long days on market create doubt. In a fast market, sitting too long feels like something is wrong. Even when nothing is.

Underpricing creates momentum.
Momentum creates leverage.
Leverage creates price.

Just like in life, and just like in sixth-grade hockey conditioning:

The people willing to do the hard work win.

And here’s the part I love most about all of it —
The tag doesn’t decide the outcome.

Not on a pair of pants.
Not on a house.
And not on you.

Because in this market, just like in life , the number on the tag is just the starting point.
The finish line is earned.

 

Demand increased from last week, though it is still not as strong as it was two weeks ago. With the holiday weekend, many buyers likely left town despite slightly warmer weather. Overall, activity remains steady.

We expected new listings, and they delivered. A significant amount of inventory hit the market, signaling that the spring wave is building.

Rates dipped slightly this week.

Contract were up from last week.

Multiple offer situations increased, especially in the outskirts, where most new listings saw strong competition.

Luxury demand downtown dipped slightly this week while inventory in that segment increased.

Rent backs are becoming increasingly common. Many sellers, especially those with kids or who still need to secure their next home, are requesting extended post closing occupancy. In some cases, they expect those rent backs at little to no cost. While longer rent backs can limit the buyer pool, highly desirable properties are still attracting buyers willing to accommodate. This is a trend to watch as we move further into the spring market.

Private listings are becoming more common, especially in hotter pockets of the city. While full market exposure is typically the best strategy for maximizing price, many sellers are using private listings to test demand and potentially sell quickly without going live. Buyers should understand that not everything is hitting the public market. Platforms like Zenlist and TAN are common places brokers share these listings. This is an important trend as competition increases.

Appraisal gaps are becoming the norm in competitive situations. Buyers offering over asking price are often including an appraisal gap to stay competitive. This means the buyer agrees to cover the difference if the property appraises below the contract price. In multiple offer situations, this has become a standard strategy to strengthen an offer.

Single Family Homes 
Not much has changed. This remains the most sought after segment in the city, with the strongest demand at the entry level where competition is most intense. We saw a noticeable amount of new inventory this week and expect listings to continue coming on more consistently. Inventory should remain relatively low but not as tight as the past few months. This is still a strong seller’s market.

Lincoln Park, Lakeview, North Center, Roscoe Village
This continues to be the hottest pocket in the city. Buyers tied to the rental cycle, especially those with April lease expirations, are feeling pressure, and it is showing in their offers. Well priced properties are averaging $50K to $75K over asking, with entry level homes seeing the most competition. Duplex downs and townhomes have not hit at the pace expected, but more inventory should come closer to Spring Break. The imbalance between supply and demand will likely remain through spring. This is a very strong seller’s market.

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

West Loop
We are seeing renewed activity in the West Loop. Entry level properties are moving, some with multiple offers, and well finished luxury units are finding buyers. Properties that need work or are priced aggressively are sitting. Buyers are selective and value driven. Momentum is building, and this remains a balanced market.

Old Town
Old Town remains hot. Duplexes and townhomes are the most sought after, and walk ups are often selling the first weekend with multiple offers. High rises without in unit laundry are sitting slightly longer but still moving. This is a strong seller’s market.

South Loop
The South Loop remains mixed. Well priced entry level properties, especially townhomes, are moving and occasionally receiving multiple offers. Outside of that segment, much of the market is still sitting as buyers remain price sensitive. Conditions are improving, but for now this is still a buyer’s market.

New East Side & The Loop
We are seeing positive movement. Well priced entry to mid tier properties are moving quickly, while aggressively priced or dated units, especially without in unit laundry, are sitting. Activity is improving, but this remains a buyer’s market.

River North, Streeterville, Gold Coast
There are encouraging signs. Well priced entry level properties are seeing multiple offers, a shift we have not seen consistently in over five years. Luxury remains competitive and price sensitive. Sellers need to price below comps or offer standout upgrades to move product. More properties are trading, but this is still a buyer’s market.

The Big Picture:

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

• Downtown Core: Is a buyer’s market.