Downers Grove, IL 60515 Real Estate Market Report

ZIP Code: 60515
Report Date: May 2026
Market Temperature: HOT
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.

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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 Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

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Key Findings

1. The primary indicator of market value is the median sold price: $525,000, which reflects recent transaction activity and should be the focal point for pricing decisions rather than asking prices. hot market conditions and upward price momentum support sellers' ability to achieve close to market value on well-positioned homes.

2. Liquidity appears slower despite a hot market: the median days on market is 277, which suggests extended marketing periods and slower sales velocity for certain listings and may indicate pricing friction or buyer selectivity even as prices trend up. moderate interest rate pressure could be contributing to longer time-to-contract.

3. There is a pronounced gap between asking and realized prices: the median listing price is $1,150,000 versus the median sold price of $525,000, which suggests seller expectations in some segments are materially above recent transaction levels and may require price adjustments to achieve sales. pricing friction appears concentrated in higher-priced listings.

4. Rents and broader market momentum are supportive: the median market rent is $2,372 and rent year-over-year trend is up, while the overall price year-over-year trend is also up and market temperature is hot; investors should weigh slower transaction velocity against rising rents and prices when evaluating acquisitions.

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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.

Downers Grove, IL 60515 Real Estate Market Report

ZIP Code: 60515
Report Date: May 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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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 Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

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Key Findings

1. median sold price 242,450 is the primary indicator of market value — recent transactions center around this level, supporting the assessment that the market is currently hot and experiencing price appreciation (price year-over-year trend: up).

2. median days on market 262 suggests slower sales velocity than a typical rapid-turn market and may indicate greater time needed to convert listings into closed sales despite a hot market temperature.

3. median price per square foot 230 indicates pricing strength on a per-unit-area basis; when combined with a moderate interest rate pressure environment, sellers may sustain elevated asking strategies while buyers remain price-sensitive.

4. median market rent 1,740 and the rent year-over-year trend of up imply continued rental demand supporting investor interest, while the sampled inventory context points to relatively constrained active supply in the analyzed data set, which may sustain upward price pressure; interpret liquidity as paced (not instantaneous) rather than deeply constrained.

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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.