Every few weeks I take a close look at what the latest market data is telling us across the communities I serve. Here is the honest read as we head into the middle of September 2026. One note up front: no finalized September MLS dataset is published yet, so the figures below come from the most recent available city-level and source reports, and those sources vary by methodology. As always, I will tell you what the numbers mean for your situation, not just quote them.
The big picture
Two things stand out this month. First, mortgage rates have climbed: Freddie Mac's survey released September 3 put the average 30-year fixed rate at 6.71%, up from 6.66% the previous week and from 6.50% a year earlier, with the 15-year averaging 6.04%. That is the highest reading in more than a year, and it is now a real part of every buyer's monthly-payment math. Second, the market is genuinely split: the South Suburbs keep adding choices and feel more balanced, yet the hottest Northwest Indiana communities are still moving at a fast clip.
The Illinois side
Frankfort
Frankfort's recent sold medians cluster near $550,000, down just under 1% from a year ago per Redfin, and one August market tracker puts days on market near 29, while Redfin's own estimate runs closer to 57. The medians vary by source, yet the direction is clear: prices have cooled from the summer highs, and well-priced, well-presented homes still draw real interest. Pricing from day one matters more now than it did earlier in the year.
Orland Park
Orland Park remains the busiest story on the Illinois side. The median sale price sits near $385,000 over the latest three months, up about 5.5% from a year ago, with roughly 44 days on market. List prices in July averaged around $429,900, about 8.8% above where they sat in February. More choices for buyers mean condition, presentation and a realistic starting price decide how quickly a home moves.
The Indiana side
Schererville
Schererville is still the fastest-moving market in Northwest Indiana: a median near $350,000, up about 3% from a year ago, with homes selling in around 20 days. One additional tracker lands near $347,500 with longer market time, yet the theme holds, if you are a seller in Schererville, you are still in the stronger position in this region.
Munster
Munster is sending mixed signals depending on the source: Redfin places the median near $385,000, up about 5.5% year over year with about 33 days on market, while a mid-year update from a local brokerage reads nearer $375,000 with about 21 days. The practical take is consistent: move-in-ready, well-sized homes sell at a steady clip, and the condition bar stays high.
Crown Point
Crown Point has settled into a calmer market. Redfin's city median runs near $315,000 over the latest three months, down about 2.5% from a year ago, with about 42 days on market, while Homes.com reports a median closer to $350,000, down about 1%. Either way, well-conditioned homes still sell at sensible terms, buyers have room to negotiate, and an honest opening price from day one wins.
Valparaiso
Valparaiso shows the widest spread between sources. Redfin's average sale price runs near $352,000, down about 4.6% from a year ago, with the region's longest market times around 86 days, while the 46385 ZIP code posted sold medians near $372,000 in July, up about 3.3%. When reliable sources differ this much, the takeaway is that price range, condition and patience decide, and buyers have genuine room to explore and negotiate.
Highland
Highland is the sleeper story. Its median runs near $269,000 over the last three months, up about 2.7% year over year, with homes selling in about 14 days and roughly 35% of sales done above list price. If the headlines are about cooling, this is the reminder that more affordable, established Lake County towns still have real competition.
What this means for sellers
Rates at 6.71% mean buyers are payment-sensitive, so the days of list it and wait are over almost everywhere. In the South Suburbs, where inventory keeps growing, your first price is your best tool: overpricing today carries more risk than at any point in two years. In Schererville and Highland you still hold the edge, yet pricing and presentation decide the outcome even there. And in Crown Point and Valparaiso, an honest opening price beats chasing the market down later. If you are thinking about selling, let's start with a conversation about your neighborhood and condition rather than the averages.
What this means for buyers
This fall is genuinely more buyer-friendly than the past two years in many of the communities I serve. Inventory is up, pricing is more realistic, and in places like Crown Point and Valparaiso you can negotiate. The catch is rates: at 6.71%, get pre-approved and know your reliable payment before you look, and remember that waiting for a lower rate usually has a cost in price and in lifestyle. Fall is also a lovely window to buy, with more normal inventory and less heat than the summer.
One more thing
I am licensed in both Illinois and Indiana, so I can help you compare the South Suburbs and Northwest Indiana in a single conversation. If you are weighing a move, sizing up your equity, or getting ready to list, 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!™