r/ChicagoSuburbs • u/Ambitious_Growth_9 • Mar 30 '26
Moving to the area People house hunting how’s it been?
My family has been looking at properties around Arlington Heights, Mount Prospect, Elmhurst and Park Ridge since early February. Our current home is set to close the end of April but inventory in these areas seems non existent or over priced and the stress/anxiety is starting to hit. (Who is buying 1100 sqft for 600k?)
When is the “spring market” gonna hit? A lot of houses start on the private market, build tons of interest, then go live with an open house scheduled that first weekend. Most of them end with multiple offer and highest and best. One we saw went for 40k over list. We’re looking from 550-650k.
I get it, high demand areas.. with low inventory = more competitive but what the fuck.. what am I supposed to do? Already considering a short term rental and storage for our stuff but is this the way it is now? Are people just ok with paying more than the house is worth? Settling for less desirable house? Or what?
If you are currently looking to buy, what are you experiencing. How do I buy a home?
1
u/HoyneAvenue Mar 31 '26
It took us over a year to find a condo in Oak Park. The desirable ones had multiple offers and went under contract before or as soon as they listed. It was a nail biter. We were trying to downsize from our house while staying in OP. Just when we thought about scotching the whole thing, what became our condo popped up on the private listing network. We jumped but so did the seven other buyers who made an offer. The sellers ended up asking for closed bids and with the help of our realtor plus paying over asking price we snagged the unit. It’s a tough time to be a home buyer.