If you’ve been wondering what’s happening in the Long Grove real estate market lately… you’re not alone. Between mortgage rates, headlines about the economy, and buyers trying to figure out whether to jump in now or wait, there’s definitely a lot of confusion out there.

But here’s the reality from what we are seeing every single day in Long Grove:

The market is still active especially for homes that are priced correctly, updated, well-staged, and marketed properly.

Long Grove continues to be one of the most desirable communities in the Northwest suburbs because buyers still want what Long Grove offers: larger lots, beautiful custom homes, privacy, award-winning schools, mature trees, ponds, walking paths, and a lifestyle that feels different from a typical subdivision.

That being said, today’s market is not the same market we saw during the frenzy of 2021 and 2022.

Buyers are more cautious. They are taking a little more time. They are comparing homes more carefully. And when a home feels overpriced or needs significant work, buyers are hesitating.

At the same time, inventory is still relatively low compared to historical norms, which is helping support home values. Zillow currently reports Long Grove home values averaging around the mid-$900,000 range, up roughly 5% year over year. Realtor.com also reports Long Grove remains a seller-leaning market with median list prices around $1.15 million.