Published October 18, 2026 in Market Update

Inventory Is Down Across These Chicago Neighborhoods

By Maureen Moran

Real estate, Move up buyer

Let me take a moment to share what the numbers actually show here, because the national story and the local story are not the same. I am Maureen, and I work block by block across Lincoln Park, Lakeview, Bucktown, Gold Coast, Old Town, and Wicker Park. What I am seeing right now deserves a closer look.

The National Headline Does Not Apply Here

Redfin reported that home sellers outnumbered buyers by 62.6% across the U.S. in September. Redfin also counted just 928,892 homebuyers nationally that month, the lowest level since 2013. Those are real numbers, and they matter. But they are not this market's numbers.

In the three months ending August 31, 2026, the Real Estate Data Aggregator counted 648 homes for sale across these four ZIP codes combined. That is down 11.1% from the same months a year before. Pending sales rose 3.8% over the same stretch. Fewer homes available, more buyers going under contract. That is the opposite of the national picture.

What Falling Inventory Means for a Move-Up Buyer

If you are selling one home here to buy another, you face both sides of this at once. Your current home sells into a thin market that favors sellers. Your next home competes in that same thin market. Timing those two moves is the real challenge right now.

Each Neighborhood Reads Differently

The Real Estate Data Aggregator shows this clearly at the ZIP code level. I would encourage anyone to look past the combined figures and read each neighborhood on its own terms.

Prices Are Moving, and Buyers Are Paying Over List

In ZIP 60614, the Real Estate Data Aggregator put the median sale price at $850,000 for the three months ending August 31, 2026. That is up 18.3% from the same period a year before. More than half of homes there sold above list price, 57.1% to be exact, up 14.1 points from a year ago.

In ZIP 60657, the Real Estate Data Aggregator counted 63.1% of homes selling above list price, up 6.9 points. The median sale price there was $705,000, up 16.7%. In ZIP 60647, 65.1% of homes sold above list, up 12.3 points. In ZIP 60622, that share was 62.2%, up 11.3 points.

Speed Tells the Same Story

The Real Estate Data Aggregator found that 63% of homes in ZIP 60614 went under contract within two weeks of listing, up 4.5 points from a year before. In ZIP 60657, that share was 65%, up 0.3 points. In ZIP 60647, it was 59.2%. In ZIP 60622, it was 60%, up 6.1 points. Most homes are not sitting. Most are gone in under two weeks.

One More Cost to Factor In

NBC real estate news reported in October 2026 that State Farm is raising home insurance rates for Illinois homeowners by an average of 8%. If you are pricing your next move, that is a real line item to account for, whether you are buying a vintage walk-up or a single-family home.

One Block Can Read Differently From the Whole ZIP Code

ZIP code averages tell part of the story. Which side of Halsted you are on, how close you are to an L stop, which school boundary your address falls in: these details move prices in ways the combined numbers do not show. I would encourage anyone thinking about a move up within these neighborhoods to look at the block, not just the ZIP.