Western Springs, IL 60558 Real Estate Market Report

ZIP Code: 60558
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

---

Executive Overview

The median sold price in Western Springs is $849,943.50, reflecting a competitive market despite some recent fluctuations. Although there is no available historical sold price change percentage, the current market conditions indicate a slight appreciation year-over-year, suggesting resilience in home values. However, the market is experiencing a softening phase, as evidenced by a median days on market of 251, which indicates slower sales velocity and a potential cooling in buyer urgency.

While homes are still selling slightly above asking prices, the elevated inventory levels compared to sales activity suggest a shift towards a more balanced market. The median listing price stands at $970,000, which presents a notable gap relative to the sold price, indicating potential pricing friction as sellers adjust expectations in a changing market environment. The overall market temperature is neutral, reflecting a cautious approach from both buyers and sellers as they navigate these dynamics.

---

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 Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the Western Springs IL area average around 6.01% to 6.22%, which is notably lower than the 6.85% average seen one year ago, presenting a favorable refinancing window for property owners.

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

---

Key Findings

1. The median sold price of $849,943.50 indicates a competitive market despite recent fluctuations.

2. A median days on market of 251 suggests slower sales velocity and a potential cooling in buyer urgency.

3. The median listing price of $970,000 presents a notable gap compared to the sold price, indicating pricing friction.

4. Elevated inventory levels relative to sales activity suggest a shift towards a more balanced market.

5. The overall market temperature is neutral, reflecting a cautious approach from both buyers and sellers.

---

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.