Chicago, IL 60622 Real Estate Market Report

ZIP Code: 60622
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The real estate market in Chicago, IL 60622 is currently characterized by a median sold price of $1,099,500, reflecting a moderate price appreciation trend. This price indicates a stable market environment, although the absence of historical sold price change data limits a deeper analysis of long-term trends. The market appears to be shifting towards balance, with median days on market at 324, suggesting slower sales velocity and potential pricing friction as buyers take more time to make decisions.

Additionally, the inventory context shows elevated levels of supply relative to sales activity, which may provide buyers with increased leverage in negotiations. The median listing price stands at $1,774,500, indicating a significant gap between seller expectations and market realities. With a median market rent of $2,470, rental demand remains robust, supported by a stable local economy and a diversified job market, further contributing to the overall market dynamics.

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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 60622 are averaging 6.38%, which is 0.85% higher than the 5.53% average seen in March 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. The median sold price of $1,099,500 indicates a stable market, though the lack of historical price change data limits comprehensive trend analysis.

2. With median days on market at 324, the market is experiencing slower sales velocity, suggesting that buyers are taking longer to finalize purchases.

3. The median listing price of $1,774,500 reflects a significant gap compared to the sold price, which may indicate pricing friction for sellers.

4. Elevated inventory levels suggest excess supply relative to sales activity, providing buyers with increased negotiating power.

5. The median market rent of $2,470 supports strong rental demand, reflecting a stable local economy and diversified job 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.