Is Highwood, IL 60040 a buyer’s or seller’s market?
Highwood is a seller’s market. With about 2.4 months of supply and 33% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
The Highwood housing market right now
In the three months ending August 31, 2026, 33% of homes in Highwood, IL 60040 sold above their list price, the typical home went under contract in 69 days and there were 2.4 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 12 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 50%, homes sold more slowly (63 days then) and the median sale price rose 88% to $682,205. Overall, Highwood is less competitive than a year ago, which gives buyers more room.
Within Lake County, homes here sell more slowly than in any other ZIP code in the county, and sell less often over asking than in 96%.
Nearby, buyers who want less competition could look at Fox Lake 60020 (26% sold over asking), while North Chicago 60064 (58% sold over asking) and Zion 60099 (54% sold over asking) are even more competitive.
Run the numbers for 60040
Nearby markets
Antioch 60002Seller’s market $184 /sq ftBuffalo Grove 60089Seller’s market $245 /sq ftDeerfield 60015Seller’s market $302 /sq ftFox Lake 60020Seller’s market $185 /sq ft Browse all markets →Towns like Highwood nearby
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Questions about Highwood real estate
Is Highwood a buyer’s or seller’s market?
A seller’s market: there were 2.4 months of supply in Highwood, IL 60040 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Highwood?
The typical home went under contract in 69 days in the latest three months.
Do homes in Highwood sell over asking?
33% of homes sold above their original list price, and the typical sale closed at 98.3% of the list price.
What are property taxes in Highwood?
About 2.58% of a home’s value a year in Lake County, or roughly $10,320 on a $400,000 home.
What is the median home price in Highwood?
The median sale price was $682,205 in the three months ending August 31, 2026, about $332 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology