This month's update has a steadier headline than last week's: mortgage rates have held rather than climbed. Freddie Mac's Primary Mortgage Market Survey released September 10 keeps the average 30-year fixed rate at 6.76%, the same as the week before but still a year high, with the 15-year at 6.09%. No finalized September MLS dataset is published yet, so the community figures below come from the most recent available city-level and ZIP-level source reports, and those sources vary by methodology, so I have flagged each read next to its source. My real job is the same as always: tell you what the numbers mean for your situation, not just recite them.
Rates hold at 6.76%, and one number that matters more
The 30-year rate has now been above 6.7% for two consecutive surveys, and it sits about four-tenths of a point above where it was a year ago. The Federal Reserve holds its target range at 3.50% to 3.75%, with a rate decision expected this week. Buyers remain payment sensitive, which is exactly why the town-level data below shows a market that is pausing rather than turning: good homes still sell, yet they sell to buyers who are pre-approved, priced in and ready to move.
Indiana town-level data, source by source
Crown Point
The freshest ZIP-level read for 46307 shows a median sold price near $346,900 for recent months, up about 8.2% from the same period a year earlier, while Homes.com lists the median near $350,000 and Redfin's most recent city figure runs closer to $315,000 with about 42 to 44 days on market and roughly four months of supply. The spread between sources is real, and it tells you this: in Crown Point, pricing and condition decide the pace more than the county number ever will.
Munster
Munster's mid-year read puts the median sale price near $375,000, roughly flat year over year, with about two and a half months of supply and typical market time around 33 days. Redfin's separate city figure sits nearer $385,000, up about 5.5% year over year. Either way, Munster remains one of the tighter markets in Lake County, and move-in-ready homes still move at a steady clip.
Schererville and Dyer
Schererville's median list price ran near $342,000 in August per Movoto, about 11% below the same month last year, with market time around 34 to 49 days depending on the measure you read. Dyer's median list price came in near $399,000, about 4% below a year earlier, with homes selling about 16% faster at roughly 36 days. The list-price softening in these towns is the clearest sign yet that buyers with a pre-approval in hand have real negotiating room.
Highland
Highland remains the standout for pace: a market report for late August shows a median sale price near $265,900 with 14 days on market, down from about 29 days a year earlier, while Redfin's three-month figure runs near $269,000, up about 2.7% year over year. When a town this close to the state line keeps selling that fast, it is usually Illinois buyers crossing over.
Valparaiso
Valparaiso's most recent verified read shows a sale-based median near $381,000 with about 27 days on market, while list-price sources run closer to $399,990 with a longer market time. No clean new August figure was available, so treat Valparaiso as steady rather than settled: lean supply and a sold-to-list ratio that keeps coming in at or above 98%.
Illinois South Suburbs, the freshest reads
Frankfort's most recent Redfin figure puts the median sale price near $550,000, down about 0.9% from a year earlier with roughly 57 days on market, while Movoto's August listing median runs near $639,000. Orland Park's average home value sits near $397,000 per Zillow, up about 4.8% year over year, with homes going pending in around 12 days. Tinley Park's Redfin read shows a median sale price near $309,000, down about 1.9% year over year with about 45 days on market, while another tracker puts the median near $287,500. The Illinois side is a story of more choices, longer tours and more negotiation room, which is good news for buyers who were priced out two years ago.
The property tax question I hear every week
Almost every Illinois-to-Indiana conversation eventually lands on property taxes, and the numbers back up the instinct to ask. Illinois carries one of the highest effective property tax rates in the country at roughly 2.0% to 2.1% of home value, second only to New Jersey. Indiana sits well below the national average at roughly 0.73% to 0.85%. On a $300,000 home, that works out to about $6,000 a year in Illinois versus roughly $2,200 to $2,500 in Indiana. Nobody should move for taxes alone, yet when the gap is this consistent in direction and this large in scale, it belongs in the honest part of the conversation about your payment, not just the purchase price. I run both sets of numbers side by side for my clients, because I am licensed on both sides of the line.
What this means for sellers
Rates holding near 6.76% mean buyers will notice your price, and list-price softening in towns like Schererville and Dyer means the opening number is your best marketing tool. Price honestly, present well, and let the condition of your home do the selling. In Munster and Highland, where demand stays tightest, move-in-ready still wins.
What this means for buyers
More inventory in the South Suburbs, slower market times and softer list prices in several towns, and a tax bill that can be thousands lower across the line: this is genuinely the most buyer-friendly season in two years in many of the communities I serve. Get pre-approved, understand what your payment really is in each state, and be ready to act when the right home appears. If you are weighing Illinois against Indiana, I would love to run the numbers with you in a single conversation. Call me at (708) 252-1490 or schedule a call any time. You Can With Joanne!™