VKR Market Pulse — Issue #14

7.03%

30-Yr Rate

$426k

Chicago Median

48 days

Avg DOM

2.9 mo

Inventory

From Slawomir's Desk

Mortgage rates just crossed 7% for the first time in nearly a year — yet Chicago buyers aren't backing down. Median $426K, up 9%. Here's your biweekly pulse check on what's happening and what to do about it. — Slawomir, (773) 837-4815

Market News

Top Stories This Issue

30-Year Mortgage Rate Hits 7.03% — First Time Above 7% in Nearly a Year

The 30-year fixed rate reached 7.03% (Freddie Mac, September 24, 2026) — up from 6.95% the week before and 6.30% a year ago. For buyers, the practical math: on a $340,000 loan, the move from 6.30% to 7.03% adds roughly $160/month in principal and interest. Payment shock is real — but waiting for a rate drop that may not come soon is its own risk.

Source: Freddie Mac PMMS via Fox Business · September 2026

Chicago Median Sale Price Reaches $426,255 — Up 9.3% Year-Over-Year

The citywide median sale price climbed to $426,255 (Redfin, 3 months ending August 2026), up 9.3% from a year ago. Inventory is slowly recovering — 23,350 active listings (+3.3% YoY), about 2.9 months of supply — but that's still 56% below August 2019 levels. Homes spend about 48–49 days on the market; roughly 49% sell above asking, at an average 101.4% of list price.

Source: Redfin Chicago Housing Market / Homes.com · August 2026

Neighborhood Spotlight: Portage Park — Median Up 23.8% to ~$545,000

Portage Park on the Northwest Side is one of Chicago's hottest markets right now. The median sale price reached about $545,000 in August — up an eye-popping 23.8% year-over-year — with homes going under contract in around 44 days and selling at roughly 103% of list. Buyers are drawn by its Walk Score of 78, the Six Corners shopping district, access to the Blue Line and Metra, and the neighborhood's long-standing Polish-American roots. Competition is strong, so come pre-approved and ready to move.

Source: Redfin Portage Park Housing Market · August 2026

Local Data

Chicago Market Snapshot — October 2026

Metric	Current	vs Prior Issue
Median Sale Price	$426,255	↑ 9.3% YoY
Active Listings	23,350	↑ 3.3% YoY
Months of Supply	~2.9 months	Still 56% below Aug 2019
Avg Days on Market	48–49 days	~49% sell above asking
List-to-Sale Ratio	101.4%	Avg of sold homes
30-Yr Mortgage Rate	7.03%	↑ from 6.95% prior week

Sources: Redfin Chicago & Portage Park Housing Market (Aug. 2026); Homes.com Chicago Housing Market Report (Aug. 2026); Freddie Mac PMMS via Fox Business (Sept. 24, 2026). Payment examples are P&I only, 30-year fixed, for illustration.

Broker Insight

What This Means For You

🏠 Sellers

Prices keep rising and inventory is only slowly recovering, so well-priced homes are still drawing competition. But rate-sensitive buyers are watching their budgets — price accurately and prepare the home well to keep multiple offers alive.

🔑 Buyers

At 7%, payment shock is real. Get pre-approved, compare lenders (a quarter-point can save ~$55/month on a $340,000 loan), and negotiate seller credits or a rate buydown instead of waiting for a rate drop that may not come soon.

Quick Tip

Tip of the Issue: Ask for a Rate Buydown, Not Just a Price Cut

With rates elevated, a seller-paid 2-1 buydown or closing-cost credit often saves a buyer more monthly than a small price reduction — and sellers protect their headline sale price (and neighbors' comps). Sellers: offering one can widen your buyer pool. Buyers: ask your broker to structure it into your offer.

Dla Polskiej Społeczności

Wiadomości po Polsku 🇵🇱

Aktualności z rynku nieruchomości

Oprocentowanie 30-letniego kredytu hipotecznego wzrosło do 7,03% (Freddie Mac, 24 września) — to najwyższy poziom od blisko roku, a rok temu było to 6,30%. Mimo to rynek w Chicago pozostaje silny: mediana ceny sprzedaży w sierpniu wyniosła ok. $426 000, czyli o 9,3% więcej niż rok wcześniej. Domy sprzedają się średnio w 48–49 dni, około połowa z nich powyżej ceny wywoławczej (średnio 101,4% ceny ofertowej).

Liczba ofert rośnie powoli — 23 350 aktywnych ogłoszeń (+3,3% rok do roku), co daje około 2,9 miesiąca podaży, ale to nadal ponad 56% mniej niż w sierpniu 2019 roku. Dla sprzedających oznacza to dalszą konkurencję wśród kupujących, pod warunkiem właściwej wyceny. Dla kupujących: przy kredycie $340 000 wzrost stopy z 6,30% do 7,03% to ok. $160 więcej miesięcznie. Warto porównać oferty kilku banków i negocjować z sprzedającym pokrycie kosztów lub obniżenie stopy (rate buydown).

Dzielnica miesiąca: Portage Park — mediana ok. $545 000 (wzrost o 23,8% rok do roku), domy sprzedają się w ok. 44 dni za ok. 103% ceny ofertowej. To dobrze skomunikowana, popularna dzielnica z silnymi polskimi korzeniami. Zadzwoń do mnie — omówimy Twoją sytuację: 773-988-4848.

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