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GARY, IN 46407

Real Estate Market Report
Balanced Market
February 2026  ·  Source: Realtor.com

Market Analysis

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

The GARY, IN real estate market (46407) currently shows 71 active listings, with 14 pending sales. Homes are averaging 47 days on the market before going under contract.

Inventory has increased compared to last year, with 19 more homes available — giving buyers more choice.

Homes are selling faster, averaging 47 days on market compared to 57 days last year.

The median listing price has fallen 49.9% year-over-year, from $119,725 to $60,000.

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

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

Market Overview

Active Listings
71
⇧ 36.5% vs 52 last year
Pending
14
20% pending ratio
Median Price
$60,000
⇩ 49.9% vs $119,725 last year
Average Price
$85,228
⇩ 23.8% vs $111,779 last year
Days on Market
47
⇩ 17.5% vs 57 days last year

Price Per Square Foot

Median $/sqft
$47
⇩ 43.4% vs $83/sqft last year
Median Home Size
1,338 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 71 this year vs 52 last year
  • Days on market: 47 now vs 57 last year

Median & Average Pricing

Year over Year
  • Median: $60,000 (-49.9% YoY)
  • Average: $85,228 (-23.8% 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 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 February 2026, there are 71 active listings in GARY, IN (zip code 46407), compared to 52 the prior year.

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

The median listing price in GARY, IN 46407 is $60,000 as of February 2026, a 49.9% decrease from $119,725 the prior year.

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

Homes in GARY, IN 46407 spend an average of 47 days on the market before going under contract, compared to 57 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 February 2026, GARY, IN 46407 is currently a Balanced Market. Inventory has increased compared to last year, with 19 more homes available — giving buyers more choice. Homes are selling faster, averaging 47 days on market compared to 57 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 $1,200 compared to a typical 5% commission on the median listing price of $60,000. 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.