Chicago, IL 60618 Real Estate Market Report

ZIP Code: 60618
Report Date: April 2026
Market Temperature: HOT
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, IL (ZIP: 60618) is characterized by a median sold price of $799,000, reflecting a robust demand despite the current market conditions. The neighborhood has increased 15% since 2023, indicating a strong appreciation in home values. This upward trend in sold prices suggests a competitive environment where buyers are willing to pay more for properties, contributing to the overall market temperature being described as hot.

However, the market is experiencing elevated inventory levels, with a median days on market of 254. This extended timeframe may indicate a slower sales velocity, suggesting that while demand remains strong, buyers are taking their time to make purchasing decisions. The median listing price stands at $904,950, which is notably higher than the sold price, indicating potential pricing friction as sellers adjust their expectations to align with market realities.

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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 Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

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Key Findings

1. The median sold price of $799,000 indicates a strong appreciation in home values, having increased 15% since 2023.

2. With a median days on market of 254, the market shows signs of slower sales velocity despite a hot market temperature.

3. The median listing price of $904,950 suggests potential pricing friction as it exceeds the sold price, indicating sellers may need to adjust expectations.

4. Elevated inventory levels relative to sales activity may lead to increased competition among sellers, impacting future pricing strategies.

5. The median market rent of $1,980 reflects rising rental demand, further supporting the overall strength of the housing market.

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Notable Properties

The following 8 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.