Chicago, IL 60621 Real Estate Market Report

ZIP Code: 60621
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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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 Chicago, IL 60621 are averaging 6.37%, which is 0.37% higher than the 6.00% average seen in early 2025.

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. $119,000 median sold price anchors valuation; the gap versus the $149,950 median listing price suggests pricing friction where sellers may need to adjust expectations to match realized transaction levels.

2. 315 median days on market signals slower sales velocity and extended time-to-contract, which may create negotiation leverage for patient buyers and require pricing discipline from sellers.

3. $1,827 median market rent combined with a $100.67159167226326 median price per square foot supports ongoing rental demand and makes buy-to-rent strategies viable to consider, subject to financing and tax assumptions.

4. Interest rate pressure is elevated and current mortgage conditions near 6.37% increase monthly carrying costs; underwriters should stress-test cash flow assumptions accordingly. elevated interest rate pressure may compress investor yield expectations.

5. Supply appears relatively constrained in the analyzed sample while transaction volume is moderate, which suggests a balanced-to-slightly-firm market stance rather than an extreme directional market; sellers should price for realism and buyers should expect longer negotiation timelines.

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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.