The market in the western suburbs of Chicago is shifting in subtle but important ways. In this video, we’ll break down the latest numbers for Wheaton, Naperville, Downers Grove, and Burr Ridge, looking at pricing trends, inventory levels, and market time to separate national headlines from local reality. Some areas are showing early signs of softening, while others remain fiercely competitive. Whether buying or selling, understanding the data is key to navigating what comes next.
Eric Andersen, B.A., M.Div.
Owner/Designated Managing Broker, Andersen Realty Group
📲 Text/Call: (708) 766-8519
📩 Email: eric@eandersenhomes.com
🌎 https://www.ericandersenhomes.com
Did you enjoy this video or find it helpful? If so, be sure to 𝐋𝐈𝐊𝐄, 𝐒𝐇𝐀𝐑𝐄, & 𝐒𝐔𝐁𝐒𝐂𝐑𝐈𝐁𝐄 to my YouTube Channel.
Want to know what your home is worth?
https://www.ericandersenhomes.com/go/home-value/
Looking for homes for sale? Search the entire MLS on my website: https://www.ericandersenhomes.com/homes-for-sale/
Or, better yet, contact me directly for help with buying or selling a home: https://www.ericandersenhomes.com/contact/
Read my reviews:
Google: https://www.bit.ly/andersenrealtygroupgooglereviews
Zillow: https://bit.ly/andersenrealtygroupzillow
I have a number of awards and designations, including:
⭐️ Gold, Diamond, & Platinum Sales Award (Mainstreet Organization of REALTORS®)
⭐️ 20 under 40 (Mainstreet Organization of REALTORS®)
⭐️ Endorsed Local Provider (RamseyTrusted)
⭐️ Best of Zillow
⭐️ Pricing Strategy Advisor (National Association of REALTORS®)
⭐️ Certified Staging Consultant (Mainstreet Organization of REALTORS®)
⭐️ Accredited Buyer’s Representative (ABR®)
Transcript:
This morning, I got a call from an agent whose listing I showed the other day, and he was calling to see what they needed to do to get my buyers to write an offer. I’m Eric with Andersen Realty Group, and it seems like I’ve been getting more calls like that lately. From the beginning of COVID through all of 2024, sellers were inundated with offers, and there was no need for listing agents to ask for offers, much less beg for them. Is this a sign of the times? National headlines have been talking about how the market has been shifting in the favor of buyers for months now. In this video, we’ll look at the data for the western suburbs of Wheaton, Naperville, Downers Grove, and Burr Ridge so we can have an informed view and see what’s really going on.
In Wheaton, median market time has been fast and flat. Over the past year, single family homes have been selling in 7 days, with the exception of September, when median market time dipped to 6 days. That’s quick by any measure, suggesting that the market in Wheaton has remained firmly in the camp of team seller. Pricing has told the same story. Single family home values in Wheaton have remained on an upward trajectory through all of 2025 and currently sit at $549,000, which is up 7.1% year over year from last September. So, is there any good news for buyers in Wheaton? The only encouraging metric I could find is the number of homes for sale, but not even that’s very exciting. As of September, there were 39 homes for sale in Wheaton, which is up from 35 the year before.That’s only an 11% increase, but it is a trend to watch. If inventory continues to grow, that will eventually make conditions less competitive for homes in Wheaton.
Turning our attention to Naperville, market time remains very low, but it does show a little more variation that we saw in Wheaton. Currently, single family homes in Naperville are taking a median of 11 days to sell, which is 4 more days than in Wheaton. What’s more, that’s up by three days from the low point last winter. From October through March—you know, the slowest time of year for real estate, the dreaded winter—homes in Naperville were selling in only 8 days. So much for the myth that it’s a bad idea to sell your home in winter. Today, homes are sitting on the market for 3 extra days as compared to last winter in Naperville. That may not sound like much, but it could be the difference between getting into a competitive, multiple offer situation and paying 6% over asking price versus getting the home for asking price and not competing with other buyers. When you’re competing, you tend not only to pay more, but you also may need to drop things like inspection requests and offer more favorable terms to the seller. So what about price in Naperville? Does that extra three days of market time translate into lower prices? Sort of. In September, the median single family home price in Naperville was $697,000, down $3,000 from $700,000 over the previous several months. Now, a $3,000 dip isn’t much, but, like an uptick in market time, even a slight drop in prices could be a sign of a turning tide. Homes only increased in value by 3.1% year over year in Naperville from last September, which is quite a bit less than the 7% increase we saw in Wheaton. And in markets where homes have been increasing by double digits year over year, any softening in prices is welcome news for buyers. Finally, let’s look at the inventory of homes for sale in Naperville, which also has been on an upward trend. As of September, Naperville had 148 homes for sale, which is up from 139 homes last September. That’s a smaller percentage increase than Wheaton’s 11%, but still welcome news to buyers. It’s not much, but it could represent the early stages of a shift toward a more balanced market.
Up next, we have Downers Grove. Market time in Downers has been low and flat, with a small fluctuation of a day or two on either side over the past year. Today, we’re at a median market time of 11 days, as compared to last September at 9 days. That puts us right back to where we were last Spring, when median market time in Downers was previously at 11 days.
Pricing has offered no relief to buyers in Downers Grove and currently sits at $535,000, which is an all-time high. Looking back at pricing trends in Downers over the past 10 years, there has been a staggering 56% increase in home values. Had you bought a home in Downers Grove in 2015, you would have paid a median price of $342,250. Today, that same home will cost you $535,000. Inventory levels in Downers is good news only for sellers, as it has been on a steady decline. Downers Grove had 61 homes for sale in September, which is down from 74 homes the previous September.So while Wheaton and Naperville showed a few small signs of encouragement for buyers, Downers Grove is having none of that. If you’re looking for a home in Downers Grove, be ready to compete.
Finally, let’s look at Burr Ridge. Market time here is up by a single day as compared to last September, but it still lower than it was last Spring. In March of 2024, median market time was 25 days, and in September, it was down to 18 days. Now, that’s still slower than we saw in Wheaton (7 days), Naperville (11 days), and Downers Grove (9 days). With a median market time over two weeks in Burr Ridge, buyers are less likely to find themselves in bidding wars. But that slightly higher market time hasn’t done anything to hurt pricing in Burr Ridge. Homes have continued to appreciate in value by almost 8% year over year, and sit at an all-time median high of $977,500. As you might expect, then, inventory in Burr Ridge has plummeted. Looking at the chart, it literally looks like it’s fallen off a cliff, down 17% over the past year.
So what does all of this mean for those selling or buying a home in the western suburbs right now? For sellers, market conditions remain excellent. Inventory levels remain low, and prices remain high. You can’t list your home and expect to have 10 offers first weekend on market, but buyers can’t count on sub 4% interest rates, either. Some listings are taking longer to sell, so make sure you prepare your home well and price it correctly. Homes that are sitting generally do so because they haven’t made the price attractive enough to overcome issues with the condition or location. For buyers in the western suburbs, the market remains competitive. We aren’t seeing as many homes get competitive, but many still do.The best news for buyers is rates have been coming down. For the week of October 20, the average 30-year fixed rate came down to 6.26%, the lowest rate in a year.
So what about that agent who called me up, begging for an offer? I looked up the listing, and that home has been on the market for 117 days. To our earlier point, it is overpriced for its condition and location. Sellers sometimes worry that pricing their home appropriately will invite lowball offers, so they sometimes inflate the price to, quote, ‘leave room for negotiation’. But all that usually does is scare buyers away. Some listings will require patience to sell, particularly when the home is unique or has a less appealing location, like on a busy street or across from a cemetery. But even those homes sell, and if the price is attractive enough, they can sell quickly, too. If you found this video helpful, please like, share, and subscribe, and if you’d like my guidance with your next home sale or purchase in the western suburbs of Chicago, reach out using my contact information, below. I’m Eric with Andersen Realty Group, a family-owned brokerage where we treat our clients like family.