Hey {{first_name}},

I got asked "how's the market doing" three times this week. Once from a first-time buyer nervous about entry-level pricing. Once from a couple thinking about trading the house for a condo now that the kids are out of the house. Once from a friend shopping north of a million. I gave three different answers — not because I was hedging, but because those three people are shopping in three different markets that just happen to share a county line. If any of those three sound like someone you know, do them a favor and forward this along — it might save them a few guesses.

The overall Lake County number tells a clean, simple story: tight, competitive, sellers still holding the cards. Zoom into the segments, though, and that story splits in ways worth knowing before you make a move.

What the numbers actually say right now (12-mo. trailing, July 2026):

Single-family inventory fell another 4.1% year-over-year to just 1,090 active listings, pushing months of supply down to 1.6 — well under the 4–6 months that would call this balanced. Homes are averaging 39 days on market and selling right at 100.1% of list. Translation: buyers are largely paying full price just to keep up.

Attached homes gained more modestly — 4.0% on price, 4.7% on price per square foot — and buyers pulled back slightly, with the average sale landing at 99.4% of list instead of over. Closed sales dipped almost 5%, days on market crept up to 35. Still a good market for sellers. Just not the sprint the detached market is.

Closed sales in the $720K+ tier jumped 14.8% year-over-year, new listings rose 9.6% — and despite all that new inventory, months of supply still fell 17.2% to 2.4 months because buyers are absorbing it that fast. Average market time dropped two full weeks to 48 days, and luxury buyers are paying the highest premium of any segment at 100.8% of list. This isn't just a starter-home story anymore.

If you're selling anywhere in Lake County, timing is still working in your favor — but pricing and prep matter more in some segments than others. If you're buying, where you're shopping changes your strategy: condo buyers have a little room to negotiate, single-family buyers need to move fast and clean, and luxury buyers should expect real competition for the first time in a while.

If you want to know what any of this means for your specific street or your specific house, that's exactly the kind of conversation I'm happy to have — just hit reply.

Source: MRED InfoSparks, Lake County, 12-month rolling data as of July 2026.

And if you're a buyer wondering how to time a purchase in a market that's held this tight for years — that's exactly what the Home Buyer Protection Plan is for. If it doesn't work out, we make it right. Just hit reply for details.

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The three-market split isn't a fluke — it's what years of scarcity look like once they finally start showing up differently depending on price point. Worth knowing whichever one you're shopping in.

Thank you for being here — I don't take it lightly that you let this newsletter into your inbox every week. If this issue was helpful, pass it along to someone who might be thinking about making a move. The forward button is one of the kindest things you can do for someone who doesn't know where to start.

One more thing — today's actually my birthday. If you read this far, here's your surprise: just reply to this email, and you'll be qualified for a free home warranty if we end up working together before the end of the year. No need to talk right now — just wanted you on the list. No catch, just my way of saying thanks for being here.

And if you're not already following along on Instagram, come find me — I share market updates, local content, and the occasional thing that didn't make it into the newsletter. @michaelsteber_realtor

Until next week…

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