Chicago, IL 60637 Real Estate Market Report
ZIP Code: 60637
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.
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
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.
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
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 Chicago market are 6.3% compared to the 6.1% average seen earlier in 2026, indicating that property owners who secured loans earlier this year locked in a more favorable rate.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
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The primary market indicator is the median sold price of $260,500, which reflects recent transaction activity and—given the broader price year-over-year trend is up—suggests realized value is rising even as listing expectations differ.
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There is a notable gap between the median listing price of $322,500 and the median sold price of $260,500, which may indicate pricing friction where seller expectations exceed what buyers are paying; sellers should consider aligning offers or preparing for longer negotiation windows.
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The median days on market of 303 points to slower sales velocity relative to typical fast-moving neighborhoods; with the market temperature characterized as neutral, this suggests balanced conditions but extended time-to-contract that may require targeted marketing or tactical pricing to accelerate closings.
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For investors and landlords, the median price per square foot of $163 and median market rent of $1,800, alongside a rent year-over-year trend that is up and interest rate pressure described as moderate, imply rental income growth potential tempered by financing cost sensitivity—prioritize underwriting that stresses moderate rate scenarios.
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.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold at market average
Sold above market average
Sold at market average
Sold below market average
Sold below market average
Sold below market average
Chicago, IL 60637 Real Estate Market Report
ZIP Code: 60637
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.
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
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.
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
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 Chicago market are 6.3% compared to the 6.1% average seen earlier in 2026, indicating that property owners who secured loans earlier this year locked in a more favorable rate.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
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$235,000 median sold price is the primary indicator of market value and recent transaction activity; with a price year-over-year trend of up, recent closed sales show appreciation and support continued price strength.
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$177,500 median listing price sits notably below the median sold price, which may indicate a pricing gap between current asking prices and realized sale values and suggests pricing friction that sellers and agents should address in negotiations.
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353 median days on market signals slower sales velocity than typical turnover expectations and appears to coexist with a neutral market temperature—this combination suggests relatively constrained active supply but measured buyer activity rather than a rapidly shifting market.
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$2,200 median market rent and a rent year-over-year trend of up reinforce steady rental demand; however, moderate interest rate pressure (moderate) and local 30-year fixed mortgage rates around 6.3% compared to 6.1% earlier in 2026 may temper buyer financing capacity in the near term.
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.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Sold above market average
Sold above market average
Sold above market average
Sold below market average
Sold below market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.3% rate, 1.0% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 5/1/2026
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