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CHICAGO, IL 60616

Real Estate Market Report  ·  Cook County
Seller's Market
July 2026  ·  Source: Realtor.com

Neighborhoods in ZIP 60616

Armour Square · Bridgeport · Bronzeville · Carville · Chinatown · Dearborn Homes · Douglas · Lake Meadows · Lower West Side (Pilsen) · Near South Side · Prairie Avenue Courts · Prairie Courts · Prairie Shores · South Commons · South Loop

Market Analysis

Data as of July 2026. Source: Realtor.com.

The CHICAGO, IL real estate market (60616) currently shows 145 active listings, with 50 pending sales. Homes are averaging 38 days on the market before going under contract.

Inventory has tightened compared to last year, with 11 fewer active listings — creating more competition among buyers.

Homes are selling faster, averaging 38 days on market compared to 40 days last year.

The median listing price has fallen 2.1% year-over-year, from $357,500 to $349,950.

Whether you are buying or selling in CHICAGO, IL, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Context

Market Context

Population: 52,707  ·  Density: 5,355.2/mi²  ·  Median household income: $72,326

Typical home value: $394,510  ·  Homeownership: 37.9%

Market Overview

Active Listings
145
⇩ 7.1% vs 156 last year
Pending
50
34% pending ratio
Median Price
$349,950
⇩ 2.1% vs $357,500 last year
Average Price
$417,678
⇩ 1.3% vs $423,151 last year
Days on Market
38
⇩ 5% vs 40 days last year

Price Per Square Foot

Median $/sqft
$315
⇧ 4.3% vs $302/sqft last year
Median Home Size
1,148 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 145 this year vs 156 last year
  • Days on market: 38 now vs 40 last year

Median & Average Pricing

Year over Year
  • Median: $349,950 (-2.1% YoY)
  • Average: $417,678 (-1.3% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 5.5 miles — 1,467 listings ($1,346,667,521 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
60616Chicago, IL 606160.0 mi140$58,265,060$359,950$416,179
60653Chicago, IL 606532.0 mi71$29,037,438$367,175$408,978
60604Chicago, IL 606042.3 mi5$2,915,625$579,500$583,125
60603Chicago, IL 606032.4 mi26$15,804,464$595,000$607,864
60602Chicago, IL 606022.6 mi22$17,019,706$746,625$773,623
60661Chicago, IL 606612.8 mi40$21,870,200$447,500$546,755
60615Chicago, IL 606153.2 mi134$53,432,768$287,250$398,752
60611Chicago, IL 606113.5 mi442$498,674,566$682,500$1,128,223
60610Chicago, IL 606104.1 mi211$254,776,381$511,000$1,207,471
60637Chicago, IL 606374.6 mi124$47,830,892$279,500$385,733
60621Chicago, IL 606214.8 mi48$9,599,664$193,675$199,993
60632Chicago, IL 606325.0 mi43$14,641,070$352,450$340,490
60614Chicago, IL 606145.5 mi161$322,799,687$1,242,500$2,004,967

Frequently Asked Questions

How many homes are for sale in CHICAGO, IL 60616?

As of July 2026, there are 145 active listings in CHICAGO, IL (zip code 60616), compared to 156 the prior year.

What is the median home price in CHICAGO, IL 60616?

The median listing price in CHICAGO, IL 60616 is $349,950 as of July 2026, a 2.1% decrease from $357,500 the prior year.

How long do homes stay on the market in CHICAGO, IL?

Homes in CHICAGO, IL 60616 spend an average of 38 days on the market before going under contract, compared to 40 days the prior year.

Is it a seller's or buyer's market in CHICAGO, IL 60616?

Based on current inventory and days-on-market data as of July 2026, CHICAGO, IL 60616 is currently a Seller's Market. Inventory has tightened compared to last year, with 11 fewer active listings — creating more competition among buyers. Homes are selling faster, averaging 38 days on market compared to 40 days last year.

How much can I save on real estate commission in CHICAGO, IL?

With SELL123.com's maximum 3% commission, sellers in CHICAGO, IL 60616 save an estimated $6,999 compared to a typical 5% commission on the median listing price of $349,950. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.