What does today’s inventory really look like—and is the private listing network still the secret goldmine it used to be?
This time of year, there’s more going on than meets the MLS. Or at least, that used to be the case. As the holidays approach, many buyers and sellers assume the market slows to a crawl. But this year, even the private market isn’t overflowing with opportunity.
Let’s take a look at two distinct yet surprisingly similar markets: Lincoln Park in the city, and Winnetka in the suburbs.
Lincoln Park: Urban, Active—and Lean
In Lincoln Park, the condo market is still active—but not deep. With 52 active condo listings and just 18 in the private listing network, the so-called "hidden market" is thinner than you’d expect. That means the private market accounts for only about 26% of what’s available.
It’s a similar story for single-family homes:
16 active listings are publicly marketed.
Only 7 private listings exist off-market.
That’s just a 30% shadow inventory. In years past, you might have seen double or even triple the amount of private inventory compared to what's active. Not this year.
Buyers used to turning to private listings for more variety are finding those options just as scarce.
Winnetka: Suburban Calm, Same Scarcity
Winnetka's single-family market offers a suburban counterpoint—but the inventory story is nearly identical:
11 active listings
11 private listings
A 50/50 split might seem more balanced, but make no mistake: this is low inventory on both sides. The private market here isn’t booming; it’s simply mirroring a very lean public market.
Similar Markets, Different Motives
While both markets are experiencing low inventory, the drivers aren’t always the same:
In the city, some sellers are holding back, unsure about timing or whether to go live now or wait until spring.
In the suburbs, private listings often reflect sellers testing pricing or staying flexible without the pressure of a public launch.
Still, the result is the same: fewer properties overall, no matter where you look.
Why Holiday Inventory Looks Like This
Let’s be honest: the end of the year isn’t when most people think of making a move. But that’s exactly why there’s opportunity.
Less buyer competition means better negotiation power.
Motivated sellers want deals done before year-end.
Private listings offer an edge—but not a surplus.
In short: holiday inventory is thin. Across both the MLS and the private listing network, this is a tight market.
Final Takeaway
The tale of these two markets—urban and suburban—reveals a shared truth: low inventory is defining the season. The private listing network, once a rich source of hidden opportunities, is just as lean as the public side.
Whether you’re in the city or the suburbs, strategy matters more than ever. You need timing. You need access. And you need to know where the few real opportunities are.
Learn how timing the market can help you maximize your home purchase or home sale. Let’s talk strategy before the year wraps up.