Chicago, IL 60629 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 neighborhood's primary market indicator, the median sold price, is $248,000, which anchors valuation and reflects recent transaction activity more reliably than asking prices; the gap versus the median listing price of $347,900 may indicate pricing friction where seller expectations exceed realized sale outcomes and may create negotiation leverage for buyers.
2. Despite listing activity, the market is showing slower sales velocity with a median days on market of 231, which suggests cooler demand and that properties are taking substantially longer to convert to closed sales.
3. Price direction and market heat are both signaling softening: year-over-year price trend is down and market temperature is cold, which together suggest weakening price momentum and increased buyer leverage in negotiations.
4. Rents and financing context present mixed signals: median market rent is $1,400 with rent year-over-year trend up, while interest rate pressure is elevated and current 30-year fixed mortgage rates are averaging 6.7%, a combination that supports rental demand but may constrain purchase affordability for some buyers.

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.