Chicago, IL Real Estate Market

Sellers in 60601 are in a favorable position with the median sale price matching the median list price exactly at $528,000, meaning homes are closing at asking value without the need for concessions. A median of 32 days on market reflects steady turnover, so accurate pricing from day one remains the most effective strategy to attract serious buyers.

Buyers in 60601 are navigating a market with a median home price of $528,000 and a price per square foot of $528, and bedroom count carries significant weight since 2-bedroom homes median at $599,500 while 3-bedroom homes rise substantially to $1,899,000. With 202 active listings and a competition score of 72, the market is competitive but not extreme, giving prepared buyers a reasonable window to evaluate options thoughtfully.

The median rent in 60601 is $2,650 per month against a median sale price of $528,000, which requires careful cash flow analysis before committing, particularly with a 30-year mortgage rate currently at 6.37%. Rental inventory at 486 units runs notably deeper than the 202 active for-sale listings, suggesting sustained renter demand that could support a long-term hold strategy in this zip code.

The 30-year fixed mortgage rate currently sits at 6.37% and the 15-year fixed rate is at 5.72%, both of which carry meaningful weight when applied to a $528,000 median purchase price. Buyers who can manage the higher monthly payment of a 15-year loan would benefit from the lower 5.72% rate and faster equity accumulation in a market where price per square foot is already at $528.