How Competitive is the The Loop Housing Market?
The Loop, a neighborhood in Chicago, IL, is a competitive housing market. About 34% of homes sold above list price in the 3 months ending June 2026, and homes sell at 100% of asking.
The National Picture
The national sold-above rate stands at 24.6% with homes spending a median of 50 days on market. The Loop is in a similar range at 34.1%, meaning buyers here face competition roughly on par with the broader U.S. housing market.
Sales Volume Rebounds Sharply Downtown
Sales volume jumped 16% year over year with 287 closings, and pending sales surged 19%—suggesting the rebound in downtown demand is accelerating. Still, at 34% sold above asking and a 99.7% sale-to-list ratio, buyers negotiate effectively. The nearby South Loop (53% sold above) is more competitive, while Near North Side (33%) mirrors The Loop's buyer-friendly pricing dynamics.
Why is The Loop Competitive?
With 3.3 months of supply and 667 active listings, the market remains tight enough to generate bidding competition. Inventory held roughly flat year over year. About 15% of listings carry price drops, suggesting some sellers overshoot initially. Pending sales rose 19%, signaling demand continues to grow.
Nearby Neighborhoods
| Neighborhood | Sold Above List | Sale-to-List | Days on Market | Off Mkt in 2 Wks |
|---|---|---|---|---|
| The Loop | 34.1% | 99.7% | 59 days | 36.6% |
| Near South Side | 61.8% | 102.8% | 52 days | 37.2% |
| Far North Side | 54.6% | 103.1% | 41 days | 61.8% |
| Near North Side | 33.3% | 99.2% | 51 days | 38.7% |
| South Loop | 53.3% | 102.0% | 55 days | 39.4% |
| Downtown Chicago | 37.5% | 99.8% | 53 days | 38.0% |
Limited to neighborhoods with at least 10 home sales in the period.
All data comes from Redfin and represents a three-month rolling average ending June 2026. This article has been generated, in whole or in part, using generative artificial intelligence (AI) technology, with input from Redfin head of economics research Chen Zhao. While efforts have been made to ensure the accuracy and reliability of this information, you should independently verify all data, facts, and citations contained in this article before relying on it for any purpose. This information is not a substitute for advice from a real estate agent, financial advisor, or other licensed professional. Check the Redfin Data Center for additional in-depth housing market data.
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