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025 Chicagoland Real Estate Sales Predictions
Industry experts share their insights on the upcoming real estate market in Chicago and its surrounding areas. Here's what they have to say:
The Overall Housing Market in 2025
Mike Golden, Co-Founder/Co-CEO of @properties Christie’s International Real Estate: "We expect a robust housing market with increased volume due to falling interest rates and a historically low number of annual transactions."
Diane Glass, CEO of Berkshire Hathaway HomeServices Chicago: "The market will see slight growth, driven by reduced interest rates and more buyers entering the market. However, prices may not increase at the same rate as in previous years."
Lutalo McGee, Owner of Ani World LLC and Ani Real Estate: "The market is expected to remain stable, with efforts underway to increase housing supply. Sellers may stay on the sidelines due to limited movement on interest rates."
Jennifer Ames and Karen Arenson, License Partners at Engel & Völkers Chicago: "We anticipate modest price growth and increased transaction volume as mortgage rates decline. Markets with strong demand and limited supply will remain highly competitive."
Growth Expectations for Companies in 2025
McGee: Ani Real Estate is entering an aggressive expansion phase, focusing on effective training models to guide brokers through their first transactions.
T.J. Rubin, President/Founder of Fulton Grace Realty: "Fulton Grace is poised for continued growth across city and suburban markets, with a focus on supporting existing agents through advanced technology and innovative marketing."
Ames and Arenson: Their company expects strategic growth in 2025 by welcoming individuals and teams who align with their core values.
Golden: @properties Christie’s International Real Estate expects to grow in the 10% range.
Glass: Agents who can articulate their value proposition, bring more inventory to the market, and cater to first-time homebuyers will excel in 2025.
Challenges for Agents in 2025
Ames and Arenson: Agents must focus on enhanced client services, market expertise, and grit to succeed. They should refine their negotiation, digital-marketing, and client-relationship skills.
Glass: Helping buyer clients will be the biggest challenge due to tight inventory and lack of choice. Agents need to educate clients early, involve mortgage professionals, prepare strong offers, and advocate fiercely for their clients.
Golden: Inventory will remain a challenge, with construction costs high and unknowns related to the change in administration.
McGee: Communicating value to clients, especially when representing buyers, will be crucial. Brokers should articulate their value proposition and stay in touch with sellers who are on the sidelines.
Rubin: Adapting to new NAR settlement regulations, heightened commission transparency, and tech-driven real estate platforms will be key challenges for agents.
Bright Housing Outlooks in 2025
T.J. Rubin: The western suburbs, particularly Elmhurst, Western Springs, and Hinsdale, are expected to have a strong outlook due to their city-like amenities and access to public transportation.
Diane Glass: Near West neighborhoods like Fulton Market, Wicker Park/Bucktown, and Logan Square will remain highly sought-after areas. Near South neighborhoods like Bronzeville, Kenwood, Hyde Park, and Woodlawn are also set to see steady growth.
Mike Golden: The West Loop and prime neighborhoods in the city, such as Lincoln Park, Lakeview, Bucktown, Roscoe Village, and Lincoln Square, remain desirable. Close-in suburban markets like Wilmette/Winnetka or Hinsdale/Western Springs will continue to be strong.
Lutalo McGee: Every neighborhood in Chicago behaves differently, making it essential for clients to discuss their goals with a Realtor.
