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GARY, IN 46407

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

Market Analysis

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

The GARY, IN real estate market (46407) currently shows 80 active listings, with 23 pending sales. Homes are averaging 58 days on the market before going under contract.

Inventory has increased compared to last year, with 31 more homes available — giving buyers more choice.

Homes are taking longer to sell, averaging 58 days on market compared to 39 days last year.

The median listing price has fallen 47.4% year-over-year, from $106,200 to $55,875.

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 Context

Market Context

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

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

Market Overview

Active Listings
80
⇧ 63.3% vs 49 last year
Pending
23
29% pending ratio
Median Price
$55,875
⇩ 47.4% vs $106,200 last year
Average Price
$85,575
⇩ 20.5% vs $107,620 last year
Days on Market
58
⇧ 48.7% vs 39 days last year

Price Per Square Foot

Median $/sqft
$52
⇩ 34.2% vs $79/sqft last year
Median Home Size
1,193 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 80 this year vs 49 last year
  • Days on market: 58 now vs 39 last year

Median & Average Pricing

Year over Year
  • Median: $55,875 (-47.4% YoY)
  • Average: $85,575 (-20.5% 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
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 11.7 miles — 865 listings ($187,235,769 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
46407Gary, IN 464070.0 mi71$6,051,188$60,000$85,228
46402Gary, IN 464022.2 mi26$3,288,688$123,000$126,488
46408Gary, IN 464083.1 mi53$7,323,540$157,700$138,180
46403Gary, IN 464034.2 mi51$13,064,007$240,200$256,157
46319Griffith, IN 463196.1 mi40$11,073,520$268,650$276,838
46323Hammond, IN 463236.4 mi40$8,279,000$201,150$206,975
46322Highland, IN 463227.0 mi57$15,328,896$252,400$268,928
46312East Chicago, IN 463128.0 mi27$4,693,734$172,500$173,842
46324Hammond, IN 463248.8 mi43$8,808,249$199,450$204,843
46321Munster, IN 463219.2 mi87$42,111,393$395,974$484,039
46327Hammond, IN 4632710.1 mi17$3,321,239$186,200$195,367
60438Lansing, IL 6043811.4 mi138$28,524,600$206,875$206,700
60409Calumet City, IL 6040911.7 mi215$35,367,715$169,450$164,501

Frequently Asked Questions

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

As of April 2026, there are 80 active listings in GARY, IN (zip code 46407), compared to 49 the prior year.

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

The median listing price in GARY, IN 46407 is $55,875 as of April 2026, a 47.4% decrease from $106,200 the prior year.

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

Homes in GARY, IN 46407 spend an average of 58 days on the market before going under contract, compared to 39 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 April 2026, GARY, IN 46407 is currently a Buyer's Market. Inventory has increased compared to last year, with 31 more homes available — giving buyers more choice. Homes are taking longer to sell, averaging 58 days on market compared to 39 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 $1,118 compared to a typical 5% commission on the median listing price of $55,875. 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.