Chicago, IL 60643 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

Key Findings

1. The primary market indicator is the median sold price of $191,000, which represents realized market value and suggests recent transactions are clustering around this level; the median listing price of $274,900 sitting well above that may indicate pricing friction between seller expectations and achieved sale prices.
2. A median days on market of 209 signals slower sales velocity in the sample and, combined with a neutral market temperature, appears to reflect a balanced market where transactions take longer but are still completing rather than rapidly clearing inventory.
3. Pricing context shows a median price per square foot of $184 alongside a median market rent of $2,200; with price year-over-year trend reported as up and rent year-over-year trend also up, both for-sale and rental values are trending higher even as transaction speed is subdued.
4. Broader market conditions include elevated interest rate pressure, which may be constraining affordability and contributing to the slower sales velocity and the observed gap between asking and sold prices; given the neutral market temperature, sellers and buyers should expect negotiation and patience when pricing or underwriting deals.

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.