Chicago, IL 60620 Real Estate Market Report

ZIP Code: 60620
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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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

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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 the 60620 area are averaging 6.5%, which is consistent with the prevailing market rates observed throughout early 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 neighborhood's primary market signal is the median sold price of $180,000, which indicates recent transaction-level value and suggests pricing that is meaningfully below the current median listing price of $225,000; this gap may indicate pricing friction between seller expectations and completed sales and suggests sellers should consider realistic concessions or staged pricing to accelerate offers.

2. Liquidity appears muted with a median days on market of 220, pointing to slower sales velocity even as the sample shows relatively constrained active supply; sellers may need targeted marketing and pricing precision to avoid extended time on market, while buyers should expect negotiation room given elongated selling timelines and a neutral market temperature.

3. Valuation density supports modest appreciation: the median price per square foot is $153, which combined with an upward price trend (up) suggests continued, but measured, price growth—investors and owner-occupiers should prioritize properties that demonstrate resale or rent upside relative to this per-square-foot benchmark.

4. Affordability and carrying cost considerations are elevated because current 30-year fixed mortgage rates are averaging 6.5%, and interest rate pressure is described as elevated; financing-sensitive buyers should lock rates when appropriate and factor higher financing costs into offer strategies, while landlords should monitor rising rents (median market rent $1,400) against financing costs to assess short-term cashflow viability.

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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.