Every few months I take a close look at what the latest market data is telling us across the communities I serve. Here is what stands out as we head into early fall 2026.
The big picture
If I had to sum up the current market in one sentence, it would be this: Northwest Indiana keeps operating as a competitive seller's market with tight inventory, yet several South Suburban communities are showing a more balanced picture as inventory grows. Conditions vary a great deal from block to block, which is exactly why the averages only get you so far.
What we are seeing in Illinois
Frankfort is the most interesting story on the Illinois side. The typical sold price sits near $493,000, yet the number of homes for sale has roughly doubled compared with a year ago. More choices for buyers means well-priced homes still attract interest within the first month, yet sellers can no longer rely on scarcity alone. Pricing correctly matters more now than it did a year ago.
Orland Park keeps seeing strong demand. The median list price sits around $430,000, up about 8.8% since February, yet supply is still tight at roughly 1.2 months. Homes in good condition at the right price continue to move quickly.
New Lenox shows solid appreciation with a median price around $485,000, up about 9% year over year. Mokena's median sale price runs roughly $465,000 to $525,000 depending on the source and home type. Tinley Park medians cluster near $310,000 to $360,000, and Lemont sits around $518,000 with homes selling in about 39 days.
What we are seeing in Indiana
Schererville remains one of the fastest moving markets in Northwest Indiana, with homes selling in about 16 to 20 days and averaging around two offers. If you are a seller in Schererville, the conditions continue to work in your favor.
Crown Point shows the strongest appreciation of the group, with medians up roughly 10% year over year and inventory tight near 2.4 months of supply. Munster is up about 5.5%, with homes selling in roughly three weeks to a month. St. John's median sits near $440,000, up about 5%. Highland is up about 2.7% with a median near $269,000. Portage holds around a $300,000 median, up about 2.5%.
Valparaiso is a little different. The median sale price runs roughly $339,000 to $352,000, yet market time has a wider range because price point and condition vary more there. For buyers willing to be patient, Valparaiso still offers room to explore.
What this means for sellers
In Northwest Indiana, conditions still favor sellers, yet pricing and presentation matter everywhere. In the South Suburbs, where inventory is growing in places like Frankfort, overpricing carries more risk than it did a year ago because buyers have more options and they are comparing.
If you are considering selling, I recommend starting with a conversation about your specific neighborhood and home condition rather than the averages. Your situation is individual.
What this means for buyers
In Northwest Indiana you will often face competition for the best homes, so being pre-approved and ready to act matters. In the South Suburbs, growing inventory gives you more choices and a bit more room to negotiate than last year.
Interest rates remain part of everyone's decision making, yet waiting for the perfect rate often means paying a higher price later. If a home fits your needs and your budget, the math usually supports moving forward.
One more thing
I am licensed in both Illinois and Indiana, which means I can help you compare options on both sides of the state line. Whether you are weighing a move from the South Suburbs to Northwest Indiana or staying close to home, I would love to run the numbers with you. Call me at (708) 252-1490 or schedule a call any time. You Can With Joanne!™