How Buyers Can Actually Win in a Low-Inventory, High-Demand Market
If you’ve even glanced at the Chicago real estate market since 2020, you already know it feels a little like musical chairs with fewer chairs every year. Low inventory and high demand mean buyers have to be prepared, informed and ready to act. The good news? There are ways to win.
Here are the six things I tell every buyer as we head into battle in the Chicago Real Estate market.
1. Start Watching the Market Early
Whether you’re planning to buy in two years or two months, there’s zero downside to setting up a search and tracking what’s happening. Watching listings over time teaches you what’s realistic at your price point, which neighborhoods fit your lifestyle, and what kinds of homes actually exist in your budget. The longer you observe, the sharper your instincts become. When the right place hits the market, you’ll recognize it immediately and be able to move decisively.
2. Go to Open Houses
Scrolling listings is helpful, but nothing replaces walking through properties in person. Open houses are low-pressure ways to explore the market (and sometimes, a way to get free snacks!), and in Chicago, you’ll quickly notice patterns: similar layouts, recurring building styles, the same floor plans popping up across neighborhoods. Seeing these homes in person helps you build a mental library so you can compare new listings more accurately and trust your gut when something feels right.
3. Know What to Look for
Speed matters in this market, but so does noticing red flags early. Even though you’ll eventually have an inspection, there are things worth paying attention to during showings: signs of water intrusion, the condition of brickwork, the age of the roof, and how well common areas are maintained (if you’re considering a condo). Ask about HOA reserves, rental restrictions and what’s included in the monthly HOAs. These small bits of information make you a more confident, informed buyer when timing is tight.
4. Be Ready to Move Fast
When a great listing hits the market, you won’t have days to mull it over. Sometimes, you’ll have hours. Getting prepped early is what allows you to move quickly later. If you can get in the door right when something lists and you already understand the market, you’ll be able to write an offer with clarity and conviction.
5. Be Willing to Be Aggressive
This part isn’t always fun, but it’s necessary: competitive markets require strong offers. Sometimes buyers need to miss out on a couple of properties before they fully understand (and get comfortable with!) how aggressive they need to be, and that’s okay! Your offer doesn’t begin and end with price. Depending on the situation, inspection terms, financing terms, closing timelines or lease-back options can all make a big difference. Every deal is different, and the right strategy depends on the specific sellers and their priorities.
6. Know What Actually Matters to You
In a fast-moving market, buyers can lose sight of what they truly want. Before you get deep into showings, identify the top things that matter most to you. Make a list, rank it and be honest about what’s non-negotiable versus what’s simply nice to have. Everyone makes concessions in this market; the key is understanding which ones you’re willing to make and which ones you’re not.
Buying in a low-inventory, high-demand environment can feel like a personal attack sometimes, but preparation, clarity and the right strategy make all the difference. When you understand the market early, stay informed and know what you value, you position yourself to act quickly and confidently when the right home appears.
