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CHICAGO, IL 60616

Real Estate Market Report  ·  Cook County
Balanced Market
February 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 February 2026. Source: Realtor.com.

The CHICAGO, IL real estate market (60616) currently shows 140 active listings, with 50 pending sales. Homes are averaging 38 days on the market before going under contract.

Inventory has increased compared to last year, with 18 more homes available — giving buyers more choice.

Homes are selling faster, averaging 38 days on market compared to 52 days last year.

The median listing price has risen 6.7% year-over-year, from $337,500 to $359,950.

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
140
⇧ 14.8% vs 122 last year
Pending
50
36% pending ratio
Median Price
$359,950
⇧ 6.7% vs $337,500 last year
Average Price
$416,179
⇩ 2.7% vs $427,787 last year
Days on Market
38
⇩ 26.9% vs 52 days last year

Price Per Square Foot

Median $/sqft
$283
⇩ 9.3% vs $312/sqft last year
Median Home Size
1,233 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 140 this year vs 122 last year
  • Days on market: 38 now vs 52 last year

Median & Average Pricing

Year over Year
  • Median: $359,950 (+6.7% YoY)
  • Average: $416,179 (-2.7% 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 — 1,270 listings ($1,073,569,939 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
60616Chicago, IL 606160.0 mi124$48,994,136$370,000$395,114
60653Chicago, IL 606532.0 mi63$26,344,269$362,500$418,163
60604Chicago, IL 606042.3 mi4$2,118,000$487,000$529,500
60603Chicago, IL 606032.4 mi20$11,488,000$575,000$574,400
60602Chicago, IL 606022.6 mi18$14,683,698$750,000$815,761
60661Chicago, IL 606612.8 mi38$17,496,264$437,000$460,428
60615Chicago, IL 606153.2 mi125$44,035,625$285,000$352,285
60611Chicago, IL 606113.5 mi414$469,790,640$690,000$1,134,760
60610Chicago, IL 606104.1 mi155$189,168,045$520,000$1,220,439
60637Chicago, IL 606374.6 mi115$40,344,070$279,500$350,818
60621Chicago, IL 606214.8 mi48$8,814,096$175,000$183,627
60632Chicago, IL 606325.0 mi40$14,176,600$365,000$354,415
60614Chicago, IL 606145.5 mi106$186,116,496$895,000$1,755,816

Frequently Asked Questions

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

As of February 2026, there are 140 active listings in CHICAGO, IL (zip code 60616), compared to 122 the prior year.

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

The median listing price in CHICAGO, IL 60616 is $359,950 as of February 2026, a 6.7% increase from $337,500 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 52 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 February 2026, CHICAGO, IL 60616 is currently a Balanced Market. Inventory has increased compared to last year, with 18 more homes available — giving buyers more choice. Homes are selling faster, averaging 38 days on market compared to 52 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 $7,199 compared to a typical 5% commission on the median listing price of $359,950. 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.