Supply of North Shore rental homes plummets

Lloyd Park Beach, Winnetka, Illinois

All through the summer we've been hearing about a strong rental market for homes and condos on Chicago's North Shore. During most of that time the available supply was growing.

The number of rental listings in the MLS grew 25% between the end of June, when 301 properties were listed, and the beginning of August, when there were 377 homes and condos for rent.

Since the beginning of August the supply of available rentals has plummeted nearly 25%, from 377 to 285. That's the lowest level of availability we've seen since we began tracking the rental supply at the beginning of May. Highland Park and Evanston, two of the North Shore's more affordable communities, have seen the steepest declines in rental supply this month. The Winnetka market has also been strong.

If you're looking to rent a home or condo in one of Chicago's North Shore communities, your best bet is searching through a major brokerage site such as Coldwell Banker, Koenig & Strey or Prudential Rubloff, all of whom are clients of my firm.

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