Chicago, IL 60620 Real Estate Market Report

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.

Market Metrics

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.

Rental Market

Property Taxes

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.

Market Trends & Context

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

Key Findings

1. The primary indicator of market value and recent transaction activity, the median sold price, is 193,000, which should be treated as the representative recent sale value for pricing decisions and comps; the current spread between the median sold price and the median listing price of 259,900 suggests pricing friction between seller expectations and closed transactions.
2. Market liquidity appears muted: the median days on market is 220, which indicates slower sales velocity and suggests sellers may need longer marketing windows or price adjustments to reach contract under current conditions.
3. Pricing context and rental fundamentals show mixed strength: the median price per square foot is 161 alongside a median market rent of 1,400, while both price and rent trends are reported as up, indicating ongoing, measured appreciation pressure on both values.
4. Macro and financing context is a headwind for affordability: interest rate pressure is described as elevated, market temperature is neutral, and current 30-year fixed mortgage rates are 6.5%, which may constrain some buyer segments and support cautious seller pricing strategies.

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.