Chicago, IL 60605 Real Estate Market Report

ZIP Code: 60605
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of April 2026, the real estate market in Chicago (60605) is characterized by a median sold price of $949,500, indicating a robust market despite recent fluctuations. The neighborhood has shown an upward trend in prices, suggesting a positive trajectory overall. However, the median days on market stands at 318, which may indicate slower sales velocity, reflecting a potential gap between seller expectations and buyer readiness.

The current market conditions are marked by elevated inventory levels relative to sales activity, which may contribute to a more balanced market environment. Rental demand remains strong, with a median market rent of $2,740, further underscoring the attractiveness of the area for both buyers and renters. The elevated interest rate pressure, with current mortgage rates around 6.46%, may also play a role in shaping buyer behavior and market dynamics moving forward.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Chicago, IL 60605 are approximately 6.46%, which is higher than the average rate of 6.10% seen in February 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The median sold price of $949,500 indicates a strong market presence, reflecting ongoing buyer interest in Chicago (60605).

2. With a median days on market of 318, the market is experiencing slower sales velocity, suggesting potential pricing friction for sellers.

3. The median market rent of $2,740 highlights strong rental demand, which may support property values in the area.

4. The market temperature is currently neutral, indicating a balanced environment where neither buyers nor sellers hold a distinct advantage.

5. Elevated interest rate pressure, with mortgage rates at 6.46%, could impact buyer affordability and overall market activity.

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Notable Properties

The following 7 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.