January in Chicago has a special talent for feeling both endless and over in a blink. One minute you’re setting ambitious New Year’s resolutions, and the next it’s already the end of the month—and most of them have been quietly escorted out.

It hasn’t helped that this January decided to remind us who’s in charge. The kind of cold that hurts your face, freezes common sense, and makes even the shortest walk outside feel like a personal challenge. A few fake-spring days tried to sneak in, but winter made sure we didn’t get comfortable.

This is when the calendar reality sets in. The “new year, new me” energy fades, routines get real, and conversations that didn’t make the resolution list start popping up anyway—especially around housing. Not impulsive moves. Just honest questions about timing, options, and whether this might finally be the year something changes.

Against that backdrop, mortgage rates have quietly become part of the conversation again—in a good way. They recently touched a three-year low, and while they’ve ticked up slightly since, they’re still sitting in a range that’s catching people’s attention. This week’s blog breaks down what’s actually happening with rates, why this matters right now, and who this window could make sense for.

If you’re a buyer watching affordability—or a seller wondering whether spring demand might arrive earlier than usual—this is worth a few minutes.

Read this week’s post here: Mortgage Rates Recently Hit a 3-Year Low. Here’s Why That’s Still a Big Deal in Lake County

Hope you enjoy this week’s read, {{first_name}} — Here’s a look at what’s happening locally.

Despite the season, January’s numbers show steady demand across most segments.

Single-family homes continue to perform well. The median price is $440,000, with homes averaging 42 days on market. Inventory remains limited at 1.7 months of supply, keeping this firmly in seller-market territory.

Well-priced homes are still attracting strong interest, and buyers need to be prepared, particularly as we approach the spring market.

Attached homes remain one of the most competitive segments. The median price is $291,000, with an average market time of 36 days and just 1.3 months of supply available.

Affordability and limited inventory continue to drive demand in this category, leaving little room for hesitation among buyers.

The luxury segment continues to show stability rather than slowdown. With a median price of $970,000, homes are averaging 53 days on market, and inventory sits at 2.6 months of supply—still classified as a seller’s market, though with slightly more flexibility.

Buyers are deliberate, and sellers who focus on pricing and presentation are seeing success.

Across all segments, inventory remains low and sellers continue to hold the advantage, particularly for homes that are well prepared and appropriately priced. Buyers who are paying attention to current rate conditions may find opportunities now that tend to disappear once spring activity picks up.

Buyer Needs

And if you know someone who might be a fit for one of these situations, feel free to pass this along. A quick introduction can make a big difference for both sides.

Winter nights call for options that don’t involve braving the cold for too long. One local spot worth knowing about right now is The Temporary by American Place — Lake County’s current casino experience while the permanent American Place resort is under construction.

Located in Waukegan, the Temporary features a full slate of slot machines, table games, and a sportsbook lounge, making it an easy go-to for a midweek night out or something different on the weekend. It’s a reminder that Lake County’s entertainment scene is evolving, with even bigger plans on the horizon once the permanent development opens.

It’s another reminder that Lake County continues to attract investment and evolve—even in the middle of winter.

If you’re looking for a winter outing that doesn’t feel like the usual dinner rotation, this one’s worth a look.

Learn more here: https://americanplace.com