Published October 4, 2026 in Market Update

South Loop inventory fell while sales still rose

By Thurston Gayle

Real estate, South Loop

The one fact that changes what a South Loop owner should do right now: inventory dropped 16.9% while sales still rose. That means less competition for well-priced listings. The Real Estate Data Aggregator counted 294 homes for sale across the South Loop in the three months ending July 31, 2026, down 16.9% from the same months of 2025. At the same time, 338 homes sold, up 2.7% year over year.

For owners, fewer listings mean a well-priced home faces less competition. For buyers, fewer choices mean being ready matters when the right home comes up.

The two ZIP codes tell different stories

The South Loop spans two ZIP codes: 60605 and 60616. They moved in opposite directions on several measures in the three months ending July 31, 2026.

In 60605, the Real Estate Data Aggregator counted 129 homes for sale, down 31.7% from a year before. Homes sold there rose 8.4%. The median sale price was $365,000, down 8.8% year over year. Prices dipped, but demand held up.

In 60616, homes for sale held steady, unchanged from a year before, at 165. Homes sold fell 4%. The median sale price was $382,500, down 4.4% year over year. Days on market crept up 3 days to 58.

Speed and pricing pressure

In 60605, the Real Estate Data Aggregator found that 53.1% of homes sold above list price in the three months ending July 31, 2026, up 7.8 points from a year before. The average sale came in at 102.1% of list price, up 1.2 points. That is a real shift toward sellers in that ZIP.

In 60616, 41.7% of homes sold above list price, nearly flat from a year before. The sale-to-list ratio was 100.6%, up just 0.3 points. Still above list on average, but the pressure is lighter than in 60605.

Supply is thin

The Real Estate Data Aggregator put months of supply at 2 months in 60605, down 1.2 months from a year before. In 60616 it was 3.5 months, up just 0.1 months. Both are low. Low supply tends to keep pricing competitive.

Rates are a real factor for buyers

Mortgage rates topped 7% in September 2026, according to Realtor.com. CNBC reported the average contract rate for 30-year fixed loans with conforming balances hit 7.30%. Mortgage News Daily, as reported by CNBC, put rates as high as 7.58% on one day in late September. That affects how much a buyer can spend and how fast they need to move.

For context on pricing, Realtor.com reported the South had a median list price of $379,000 and a median of 68 days on market in September 2026. The South Loop's 56 and 58 day medians, from the Real Estate Data Aggregator, are both shorter than that regional figure.