Skokie, IL 60077 Real Estate Market Report

ZIP Code: 60077
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.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates for properties in Skokie IL 60077 average 6.35%, which is 0.48% higher than the 5.87% market average observed in February 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The neighborhood's primary indicator of recent transaction value is the median sold price 449,000, which best represents realized market value and should guide pricing decisions for SFR and condominium listings. hot market suggests continued upward price momentum.

2. There is a meaningful gap between the median listing price 569,999 and the median sold price 449,000, which may indicate seller pricing expectations outpacing recent transaction levels and could create pricing friction during negotiations. moderate pricing friction may appear as sellers adjust to actual sale outcomes.

3. Market velocity shows extended time-to-contract with median days on market 323, consistent with slower sales velocity despite a up price year-over-year trend and a hot market temperature, so expect selective buyers and longer listing lifecycles even as values appreciate.

4. Financing conditions present a tangible headwind: current 30-year fixed mortgage rates average 6.35%, which is 0.48% higher than the February 2026 market average, reflecting elevated interest rate pressure; however, rent growth (median market rent 1,900 and up rent YoY trend) supports ongoing demand for owner-occupiers and investors considering rental income.

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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.

Skokie, IL 60077 Real Estate Market Report

ZIP Code: 60077
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.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates for properties in Skokie IL 60077 average 6.35%, which is 0.48% higher than the 5.87% market average observed in February 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The neighborhood's primary indicator of market value is the median sold price $263,950, which, combined with a up year-over-year price trend, suggests recent transaction prices are rising and support a strengthening local market.

2. A notable spread between the median listing price $375,000 and the median sold price may indicate pricing friction where seller expectations appear higher than recent realized transaction values and may indicate opportunities for buyer negotiation around offer strategy.

3. The median days on market 309 points to slower sales velocity despite a relatively constrained active supply; this longer marketing time suggests liquidity is mixed and sellers should plan for extended marketing windows and strategic pricing or concessions to accelerate closings, while buyers may encounter more time to evaluate listings (down in speed).

4. Financing and rental context: the 6.35% average current 30-year fixed mortgage rate for Skokie (ZIP 60077) — elevated relative to the broader market — together with a median market rent $2,100 suggests mortgage cost pressure for buyers while rental demand remains supportive, so investor underwriting should explicitly account for higher financing costs.

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Notable Properties

The following 2 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.