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GARY, IN 46407

Real Estate Market Report  ·  Lake County
Buyer's Market
January 2026  ·  Source: Realtor.com

Market Overview

Active Listings
56
⇧ 60% vs 35 last year
Pending
12
21% pending ratio
Median Price
$66,500
⇩ 48.6% vs $129,450 last year
Average Price
$85,081
⇩ 28.6% vs $119,119 last year
Days on Market
86
⇧ 32.3% vs 65 days last year

Market Context

Population: 9,125  ·  Density: 843.8/mi²  ·  Median household income: $26,502

Typical home value: $51,243  ·  Homeownership: 45.0%

Market Analysis

Data as of January 2026. Source: Realtor.com.

The GARY, IN real estate market (46407) currently shows 56 active listings, with 12 pending sales. Homes are averaging 86 days on the market before going under contract.

Inventory has increased compared to last year, with 21 more homes available — giving buyers more choice.

Homes are taking longer to sell, averaging 86 days on market compared to 65 days last year.

The median listing price has fallen 48.6% year-over-year, from $129,450 to $66,500.

Whether you are buying or selling in GARY, IN, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 56 this year vs 35 last year
  • Days on market: 86 now vs 65 last year

Median & Average Pricing

Year over Year
  • Median: $66,500 (-48.6% YoY)
  • Average: $85,081 (-28.6% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 12.0 miles — 662 listings ($222,124,492 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
46407Gary, IN 464070.0 mi56$4,764,536$66,500$85,081
46402Gary, IN 464022.2 mi31$3,810,582$127,000$122,922
46408Gary, IN 464083.1 mi52$8,174,556$165,000$157,203
46403Gary, IN 464034.2 mi54$13,402,800$221,000$248,200
46319Griffith, IN 463196.1 mi34$9,141,070$265,900$268,855
46323Hammond, IN 463236.4 mi43$9,133,673$214,900$212,411
46322Highland, IN 463227.0 mi50$13,365,950$249,900$267,319
46312East Chicago, IN 463128.0 mi28$4,992,400$184,900$178,300
46324Hammond, IN 463248.8 mi39$7,980,414$197,450$204,626
46321Munster, IN 463219.2 mi79$36,635,065$379,000$463,735
46394Whiting, IN 4639411.2 mi32$8,589,696$249,999$268,428
46373Saint John, IN 4637311.7 mi102$69,370,098$644,900$680,099
46311Dyer, IN 4631112.0 mi62$32,763,652$404,350$528,446

Frequently Asked Questions

How many homes are for sale in GARY, IN 46407?

As of January 2026, there are 56 active listings in GARY, IN (zip code 46407), compared to 35 the prior year.

What is the median home price in GARY, IN 46407?

The median listing price in GARY, IN 46407 is $66,500 as of January 2026, a 48.6% decrease from $129,450 the prior year.

How long do homes stay on the market in GARY, IN?

Homes in GARY, IN 46407 spend an average of 86 days on the market before going under contract, compared to 65 days the prior year.

Is it a seller's or buyer's market in GARY, IN 46407?

Based on current inventory and days-on-market data as of January 2026, GARY, IN 46407 is currently a Buyer's Market. Inventory has increased compared to last year, with 21 more homes available — giving buyers more choice. Homes are taking longer to sell, averaging 86 days on market compared to 65 days last year.

How much can I save on real estate commission in GARY, IN?

With SELL123.com's maximum 3% commission, sellers in GARY, IN 46407 save an estimated $1,330 compared to a typical 5% commission on the median listing price of $66,500. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.