Is it still possible to find buying power in a market where prices are rising and inventory is shrinking?
If you've been watching the Lincoln Park market lately, you know it looks a little intense out there. Prices are climbing, homes are moving fast, and options feel limited. So where does that leave you if you're hoping to buy?
At The Kernahan Group, consistently ranked among Chicago’s best real estate teams, we're not just watching the market — we're in it every day. And we can tell you this: buying power isn't gone, it's just gone a little stealth. You need sharp timing, solid strategy, and a guide who knows how to navigate the nuance.
Yes, Prices Are Up—But That Doesn't Mean Every Home Is Overpriced
Right now, the median sales price in Lincoln Park is around $655,000 — that’s up 8.3% compared to last year. It's a healthy jump. But we’re also seeing plenty of listings that are sitting too long because they launched too high.
That’s your opportunity.
We help our buyers spot those overpriced listings and negotiate below asking — without getting caught in the hype. The key is knowing which homes have leverage built in, even when the market headlines say otherwise.
Some Homes Sell Fast—But Not All of Them
Sure, the average market time is down to 35 days. But averages can be misleading. Some homes are gone in a weekend. Others? They linger because they’re oddly priced, oddly staged, or oddly timed.
We help our buyers read between the lines. When a home sits for a bit, it doesn’t always mean something’s wrong. Sometimes, it’s just waiting for the right buyer to come along with a smart offer. That could be you.
Inventory Is Tight, So You Have to Think Smart—and Fast
With just 91 homes for sale in October (a 27.8% drop year over year), you can’t wait around. But you also shouldn’t settle. We keep a close eye on pre-market whispers, upcoming price drops, and off-market deals. That way, our buyers are often first in line when the right home shows up.
Over-Ask Offers Still Happen—But You Don’t Always Need One
Right now, homes are closing at about 101.1% of asking price. That tells you competition is still real — but it’s not out of control.
When you work with us, we help you gauge how aggressive to be. Is this a "come in hot" situation or a "wait and watch" moment? Our clients win not by outbidding everyone, but by outsmarting the process.
Thinking About Buying? Here’s How to Get Ahead
If Lincoln Park is on your wishlist, here’s how to stay competitive:
Get fully pre-approved before you even start looking
Work with a local team who knows the backstory on every block
Move quickly, but not reactively
Ask smart questions and make data-driven decisions
Leverage quieter months (like now) when fewer buyers are active
Buying in a fast-moving market doesn’t have to feel overwhelming. You just need the right approach — and the right team in your corner.
Final Takeaway
Lincoln Park isn’t the easiest market, but it’s still full of opportunity. With a bit of patience, a clear strategy, and some local intel, you can absolutely find the right home without overpaying or over-stressing.
Reach out today to The Kernahan Group at kernahangroup@atproperties.com and let’s make your next move a smart one.