Every few weeks 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 move into September 2026. One honest note up front: no finalized September MLS dataset is published yet,so what follows is the most recent available data from city-level and source reports as of early September,andsources vary by methodology. I will always tell you what the numbers mean for your situation,not just quote them.
The big picture
Two themes stand out this month. First, mortgage rates remain a real factor: the average 30-year fixed rate sat right around 6.7%in late August,per Freddie Mac's Primary Mortgage Market Survey. That is down from the worst levels of 2025,and yet still meaningful for monthly payments. Second,the South Suburbs continue to show more balance as inventory grows,while Northwest Indiana keeps its competitive edge in places like Schererville,and Crown Point's market has cooled noticeably from the stronger appreciation we saw earlier this year.
Mortgage rates
The 30-year fixed-rate mortgage averaged about 6.7%in late August 2026,according to Freddie Mac's Primary Mortgage Market Survey. For buyers,that is a real cost to plan around: locking in a rate when you find the right home often beats waiting for a drop that may not come. For sellers,it means buyers are rate sensitive,so pricing and condition matter more than ever.
What we are seeing in Illinois
Frankfort's recent sold medians cluster near $455,000 to $527,500,with a median market time around 29 days per recent city-level data. Inventory has roughly doubled year over year,,yet well-priced homes still attract interest within the first month. Pricing correctly matters more now than it did a year ago.
Orland Park's median sale price runs about $380,000 to $385,000,with days on market roughly 32 to 44. More choices than a year ago means condition,and presentation decide how quickly a home moves.
New Lenox medians cluster near $465,000 to $485,000,with about 53 days on market,while Tinley Park runs at about $340,000 to $350,000 with roughly 43 days. Mokena is noisier:12-month trailing medians cluster near $485,000,,yet a few high-end sales skew some recent reports higher,so listing-level data matters there. Lemont's median sits near $512,000 with homes selling in about 39 to 50 days per recent Redfin data.
What we are seeing in Indiana
Schererville remains one of the fastest-moving markets in Northwest Indiana: a median near $350,000 over the three months ending June,up about 3% year over year,with market time around 20 days. Sellers there still hold the edge.
Munster sits near $385,000,up about 5.5% year over year,,with about 33 days on market. Cedar Lake medians run near $314,000,up about 10.2% year over year,and about 45 days per Homes.com. Highland medians near $266,000,up about 1.5%,with about 14 days on market,and about 35% of homes selling above list. St. John's median sits near $440,000,up about 5.2% year over year.
Crown Point's city-level median runs near $315,000,down about 2.5% year over year,with about 42 days on market. That is a notable shift from the stronger appreciation we saw earlier in 2026,and pricing expectations there should adjust to match. Well-conditioned homes still draw solid interest,,yet buyers have more room to negotiate than they did a year ago.
Dyerand Portage sit at the affordability end:Dyer near $288,000 with about 30 days on market,and Portage near $293,000 with roughly 34 days,down about 2.4% year over year. Valparaiso medians run near $352,000 with longer market times around 86 days per Redfin,,though other sources report faster turnover;patient buyers have room to explore.
What this means for sellers
In places like Schererville,conditions still favor you,,yet pricing and presentation matter everywhere. In the South Suburbs,where inventory keeps growing,overpricing carries real risk because buyers have more options,and they are comparing. And in communities like Crown Point,where the pace has cooled,an honest conversation about price from day one beats chasing the market down later.
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
Higher inventory in the South Suburbs gives you more choices,and a bit more room to negotiate than last year. In Northwest Indiana,you will often still face competition for the best homes,,so being pre-approved,and ready to act matters. With rates around 6.7%,the math favors buying when you find the right home at the right price,,not waiting for a perfect rate that may cost you more in price later.
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 in a single conversation. 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!™