Skokie, IL 60077 Real Estate Market Report

ZIP Code: 60077
Report Date: April 2026
Market Temperature: HOT
Scope: Single-Family Residential (SFR) listings and comps only

---

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

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.

---

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 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 in Skokie, IL average 6.37%, which is 0.25% higher than the average rate of 6.10% seen in early 2026.

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

---

Key Findings

1. Median sold price $465,000 indicates a firm transaction baseline and supports the observation of a hot market temperature.

2. Median listing price $595,900 sits notably above recent sale levels, which may signal seller pricing optimism and potential pricing friction during negotiations.

3. Median days on market 291 points to slower sales velocity within the sample and suggests sellers or agents may need to adjust expectations or marketing strategies to improve liquidity.

4. Median price per square foot 332.08728278041076 confirms a relatively strong per-unit valuation in the sample and should be used when setting competitive asking prices in comparable submarkets.

5. Property tax rate 1.96% combined with rising rents (median market rent $1,930) and rent year-over-year trend up supports continued investor and renter interest, but moderate interest rate pressure could temper near-term buyer affordability.

---

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.