We’ve been following the market for rental homes and condos on the North Shore for several years and the market appears to be as tight as I’ve seen it.
There are more properties available than there were in the late spring and early summer of last year but, and this is purely an impressionistic take, the number of attractively priced properties is lower.
As I update our North Shore rental spreadsheet each week I scan the new listings for bargains to spotlight. It’s been quite a while since I’ve seen anything I’d consider a deal.
Deals or no, properties are renting quickly on the North Shore, and the current inventory amounts to a scant 6 week supply at recent absorption levels. Renters appear to be snapping up the actual offerings rather than holding out for their ideal home.
The market appears especially tight in the sought-after closer-in communities of Wilmette, Kenilworth and Winnetka. All three of those communities have fewer homes available for rent this week than at any time so far this year. Only 3 homes are listed for rent in Kenilworth, and one of them is offering only a 6-month lease.