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GARY, IN 46402

Real Estate Market Report
Buyer's Market
February 2026  ·  Source: Realtor.com

Market Analysis

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

The GARY, IN real estate market (46402) currently shows 26 active listings, with 3 pending sales. Homes are averaging 93 days on the market before going under contract.

Inventory has increased compared to last year, with 5 more homes available — giving buyers more choice.

Homes are taking longer to sell, averaging 93 days on market compared to 62 days last year.

The median listing price has fallen 7.2% year-over-year, from $132,475 to $123,000.

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: 5,873  ·  Density: 268.8/mi²  ·  Median household income: $26,101

Typical home value: $76,327  ·  Homeownership: 42.1%

Market Overview

Active Listings
26
⇧ 23.8% vs 21 last year
Pending
3
12% pending ratio
Median Price
$123,000
⇩ 7.2% vs $132,475 last year
Average Price
$126,488
⇩ 7.7% vs $137,019 last year
Days on Market
93
⇧ 50% vs 62 days last year

Price Per Square Foot

Median $/sqft
$75
⇩ 3.8% vs $78/sqft last year
Median Home Size
1,679 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 26 this year vs 21 last year
  • Days on market: 93 now vs 62 last year

Median & Average Pricing

Year over Year
  • Median: $123,000 (-7.2% YoY)
  • Average: $126,488 (-7.7% 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 13.4 miles — 898 listings ($285,457,667 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
46402Gary, IN 464020.0 mi31$3,810,582$127,000$122,922
46404Gary, IN 464042.8 mi58$9,217,766$165,000$158,927
46406Gary, IN 464063.9 mi26$4,045,730$170,000$155,605
46405Lake Station, IN 464054.4 mi38$6,947,008$179,900$182,816
46323Hammond, IN 463236.4 mi43$9,133,673$214,900$212,411
46319Griffith, IN 463197.6 mi34$9,141,070$265,900$268,855
46342Hobart, IN 463427.9 mi106$30,111,950$272,450$284,075
46320Hammond, IN 463208.5 mi23$5,353,388$214,950$232,756
46410Merrillville, IN 464108.9 mi129$38,486,892$272,000$298,348
46321Munster, IN 463219.9 mi79$36,635,065$379,000$463,735
46375Schererville, IN 4637510.3 mi85$32,242,285$349,900$379,321
60438Lansing, IL 6043811.7 mi144$30,962,160$211,000$215,015
46373Saint John, IN 4637313.4 mi102$69,370,098$644,900$680,099

Frequently Asked Questions

How many homes are for sale in GARY, IN 46402?

As of February 2026, there are 26 active listings in GARY, IN (zip code 46402), compared to 21 the prior year.

What is the median home price in GARY, IN 46402?

The median listing price in GARY, IN 46402 is $123,000 as of February 2026, a 7.2% decrease from $132,475 the prior year.

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

Homes in GARY, IN 46402 spend an average of 93 days on the market before going under contract, compared to 62 days the prior year.

Is it a seller's or buyer's market in GARY, IN 46402?

Based on current inventory and days-on-market data as of February 2026, GARY, IN 46402 is currently a Buyer's Market. Inventory has increased compared to last year, with 5 more homes available — giving buyers more choice. Homes are taking longer to sell, averaging 93 days on market compared to 62 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 46402 save an estimated $2,460 compared to a typical 5% commission on the median listing price of $123,000. 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.