If you’re wondering whether the Chicago housing market cooled off after the holidays, the numbers say: not even close.
The latest January 2026 data for four key Chicago neighborhoods—Lincoln Park, Near North Side, Lake View, and Logan Square—shows a market that remains firmly tilted toward sellers, with rising prices, shrinking inventory, and homes moving faster than they did a year ago.
Here’s what the numbers are telling us.
Median Prices Are Up—Across the Board
One of the clearest trends in the January data is price appreciation in every neighborhood we track.
January 2026 Median Sales Prices:
Lincoln Park: $747,000 (+9.9% vs. January 2025)
Lake View: $525,000 (+11.7%)
Logan Square: $657,450 (+9.2%)
Near North Side: $449,000 (+6.9%)
This marks the third consecutive year of January price growth in all four areas. The largest jump came from Lake View, with a nearly 12 percent year-over-year increase. Lincoln Park also saw a strong climb, approaching the $750,000 median mark.
What does this mean in practical terms? Buyers today are paying significantly more for the same home than they would have just 12 months ago—and in many cases, even more than they would have paid just a few months ago.
Sellers Are Getting Very Close to Asking Price
Another indicator of market strength is how close homes are selling to their original list price.
Average Percent of Original Price Received (January 2026):
Logan Square: 100.9%
Lincoln Park: 100.9%
Lake View: 100.6%
Near North Side: 97.3%
Three of the four neighborhoods averaged above 100 percent of list price, meaning multiple offers and competitive bidding remain common. Logan Square and Lincoln Park are especially hot, with sellers frequently receiving offers above asking.
Near North Side is slightly softer in comparison, but still very healthy at 97.3 percent—well within what we’d consider a strong market.
Inventory Is Tight—and Getting Tighter
Perhaps the most telling statistic of all is months supply of inventory. This measures how long it would take to sell all current listings at the current sales pace.
Anything under 3 months is considered a seller’s market.
Months Supply of Homes for Sale (January 2026):
Logan Square: 1.0 months
Lincoln Park: 1.1 months
Lake View: 1.2 months
Near North Side: 3.3 months
Compared to January 2025, inventory is down dramatically:
Logan Square: –37.5%
Lincoln Park: –35.3%
Lake View: –20.0%
Near North Side: –28.3%
In plain English: there simply are not enough homes for the number of buyers actively looking. That imbalance continues to put upward pressure on prices.
Homes Are Selling Faster
Not only are prices up and inventory down—homes are also selling more quickly.
Average Market Time (January 2026):
Logan Square: 30 days (–25.0%)
Lake View: 35 days (–7.9%)
Lincoln Park: 40 days (–13.0%)
Near North Side: 93 days (–10.6%)
Logan Square in particular stands out, with homes going under contract in an average of just 30 days—lightning speed for the Chicago market.
Near North Side continues to move more slowly than the other neighborhoods, which is typical given the higher concentration of luxury condos and more price-sensitive inventory.
What This Means for Buyers
If you’re planning to buy in 2026, preparation matters more than ever.
Expect competition in Lincoln Park, Lake View, and Logan Square
Be ready to move quickly when a well-priced home hits the market
Strong financing and a clear strategy are essential
Negotiation leverage is limited in most segments
Buyers who are realistic about market conditions—and who have an experienced agent guiding them—can still succeed, but flexibility and decisiveness are key.
What This Means for Sellers
For sellers, the current environment is about as favorable as it gets.
Demand is high
Inventory is low
Prices continue to rise
Well-prepared homes are selling quickly and often above list price
That said, strategy still matters. Proper pricing, smart staging, and strong marketing remain critical—especially in the Near North Side, where the market is more nuanced.
Bottom Line
January’s data makes one thing clear: the Chicago real estate market entered 2026 with real momentum.
Across Lincoln Park, Lake View, and Logan Square in particular, we are seeing classic seller’s market conditions—rising prices, limited inventory, quick sales, and frequent multiple-offer situations.
If you’ve been thinking about making a move this year, the time to start planning is now.
Thinking of buying or selling in 2026?
We’d love to help you make sense of these numbers and how they apply to your specific goals.
Reach out to The Kernahan Group—Maria and Will Kernahan, your Chicago residential property experts—to create a smart, data-driven plan for your next move.