Published October 11, 2026 in Market Update

West Loop and Near West Side stayed competitive even with rates near 7.5%

By Thurston Gayle

Real estate, West Loop / Near West Side

CNBC reported the average 30-year fixed rate reached 7.49% last week. That is the headline number buyers are watching. But in the West Loop and Near West Side, the Real Estate Data Aggregator counted 173 homes sold in the three months ending August 31, 2026. That is up 12.3% from the same months in 2025. Rates did not stop the market.

The Real Estate Data Aggregator found that 50.3% of homes sold above list price in that period. That share jumped 16.5 points from the same months in 2025. For sellers, careful pricing still draws competition. For buyers, well-priced listings are not sitting.

Rates rose, but buyers kept coming

CNBC also reported that purchase applications fell only 2% for the week rates jumped. Nationally, Realtor.com reported active listings grew 5.5% year over year, topping 1.16 million homes for sale. But Realtor.com also noted national inventory still sits 9.1% below pre-pandemic norms. More supply is arriving, yet the baseline is still lean.

In ZIP 60607, the Real Estate Data Aggregator counted 148 homes for sale in the period, down 9.2% from a year before. New listings rose 11.8% to 209, so sellers are coming to market. But homes are not piling up. Supply fell, not rose.

Speed: nearly half went under contract in two weeks

The Real Estate Data Aggregator found that 43.7% of homes in ZIP 60607 went under contract within two weeks of listing. That share is up 8.5 points from the same period in 2025. The median was 55 days on market overall, 5 days longer than last year. Not every home sold fast, but priced-right homes moved quickly.

What the rate picture looks like right now

CNBC reported that the average 30-year fixed rate for conforming loans reached 7.49% last week. That follows a CNBC report from September 30, 2026, putting the conforming rate at 7.30% and a Mortgage News Daily survey at 7.58% that same week. Rates have moved fast. A Realtor.com report noted rates topped 7% for the first time since January 2025. Budget carefully and confirm your rate with your lender.

The Federal Housing Finance Agency reported U.S. house prices rose 2.6% from July 2025 to July 2026, and 0.3% from June to July 2026 on a seasonally adjusted basis. The S&P Case-Shiller index, as reported by CNBC, showed national prices up 1.9% in July compared with July 2025. The West Loop and Near West Side median rose 15.5% in the same window, according to the Real Estate Data Aggregator. Local and national trends are not the same number.