Downers Grove, IL 60515 Real Estate Market Report

ZIP Code: 60515
Report Date: April 2026
Market Temperature: HOT
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of April 2026, the real estate market in Downers Grove is characterized by a median sold price of $565,000, reflecting strong demand and a competitive market environment. The neighborhood has increased 15% since 2023, indicating robust price appreciation amidst a backdrop of elevated interest rate pressure. This upward trend in sold prices suggests a healthy market despite the challenges posed by affordability constraints due to rising interest rates.

Market activity shows moderate transaction volume with 265 median days on market, indicating slower sales velocity. The current inventory conditions reveal elevated inventory levels, with a significant gap between the median listing price of $660,000 and the median sold price. This discrepancy may indicate pricing friction, as sellers may need to adjust expectations to align with buyer willingness in this hot market.

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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 median sold price of $565,000 reflects strong market demand, with prices up 15% since 2023, signaling a positive trend.

2. With a median days on market of 265, the market exhibits slower sales velocity, suggesting potential challenges in liquidity despite active buyer interest.

3. The median listing price of $660,000 indicates a significant gap from the sold price, which may create pricing friction for sellers.

4. Elevated inventory levels are present, indicating excess supply relative to sales activity, which could impact future pricing dynamics.

5. The median market rent stands at $2,430, which is also up, reflecting strong rental demand in the area.

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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.