Northwest Indiana Real Estate Market Trends for March 2025

Here, you can learn about the current state of the Northwest Indiana real estate market including local housing market trends and general information about NWI homes for sale.

I am one of the top real estate agents in Northwest Indiana, and I offer low real estate commission fees in Northwest Indiana.

Overview of Northwest Indiana Real Estate Housing Market Trends Now

• • Sales Volume – February sales volume fell 4% compared to February 2024.
  • Inventory – Inventory continues to trend upward with 16% more homes on the market today than a year ago up 1% from the previous month which was +15% compared to a year ago.
  • Home Prices – Single family home prices continue to trend up with the average sale price increasing 7%, and a median sale price +8% compared to a year ago.
  • Homebuyer Activity – Signs show homebuyer activity slowing with 24% fewer showings per existing home for sale compared to a year ago, and the ratio of active listings to under contract deals rose 12% to 1.5.
  • Who does the market favor? – The market is favoring homebuyers.

February 2025 Northwest Indiana Home Sales Data

625 home sales were recorded with the NIRA Northwest Indiana MLS during February 2025. This was a 4% reduction compared to a year ago. Let’s look at these sales by category.

Northwest Indiana Houses Sold in February2025

537 houses for sale in Northwest Indiana were sold in February 2025. These homes had an average sale price of $292,187 up 7% compared to a year ago. The median sale price increased 8% on a year over year basis to $270,000. The average and median sale price per finished square foot were both $147.

Homes are selling at a healthy pace that is neither overly fast or unusually slow. Existing houses for sale in Northwest Indiana selling during February 2025 were on the market for an average of 43 days and a median of 24 days. This is compares to 41 and 22 days, respectively, in February 2024.

Homes are selling a little more slowly compared to a year ago. In February the average days on market for a sold single family home was 52, 6% longer than a year ago. The median days on market increased 17% to 34 days.

Home sellers’ appear to be a little too optimistic on their original list price. On average, existing homes are selling at 93.1% of their original list price. This is 4% less than a year ago. This means that home sellers’ initial price is farther out than what buyers are willing to pay more so than a year ago.

Northwest Indiana Condos Sold in February 2025

Condos for sale in Northwest Indiana represented 22 of the 625 homes sold in Northwest Indiana during the month. These homes had an average sale price of $224,029. The median was $208,250. The average sale price per finished square foot was $163, and the median sale price per finished square foot was $161.

Northwest Indiana Townhomes and Half-Duplexes Sold in February 2025

Half-duplexes and townhomes for sale in Northwest Indiana accounted for 66 home sales during February. The average sale price was flat at $277,756, and the median list price fell 4% to $265,995. The average sale price per finished square foot was $170 whereas the median sale price per finished square foot was $174. These are increases of 2% and 4%, respectively.

Northwest Indiana Luxury Home Sales in February 2025

48 luxury homes for sale in Northwest Indiana were sold during February 2025. This is a 14% increase compared to a year ago. I assign luxury home status to home selling for more than $500,000 which is usually the top 10% of the real estate market.

These homes had an average sale price of $677,485 (+5%) and a median sale price of $643,500 (+7%). The average sale price per finished square foot was $195 up 5% compared to a year ago. The median sale price per finished square foot fell 2% to $184.

Current Trends in Northwest Indiana Homebuyer Activity

Homebuyer activity was soft in February 2025. Market wide the number of showings fell 10%. When looking at existing homes the number of showings per listing fell 24%. Ouch! Another metric to track is the number of listings under contract listings. This ratio increased to 1.5 whereas it was 1.3 at the start of March 2025. This indicates homes are being added to the market more quickly than buyers are buying them.

Current NWI Homes for Sale

Inventory Levels

The number of homes for sale in Northwest Indiana continues to slowly creep upward. Currently, there are 1,873 homes for sale in Northwest Indiana. This is up 16% compared to a year ago but down 5% compared to the start of last month.

Houses for Sale in Northwest Indiana

Today we have 1,680 houses for sale in Northwest Indiana. This is a 17% increase compared to a year ago and down 6% from the start of last month. These homes have an average list price of $382,376 up 1% compared to a year ago. The median list price is up 4% from a year ago to $334,000. The average list price per finished square foot of houses for sale in Northwest Indiana is $173.

New Construction Houses for Sale in Northwest Indiana

348 new construction houses are listed for sale in Northwest Indiana. This is up 4% compared to a year ago but down 3% compared to the start of January 2025. This is another month of home builders showing a lot of control over how many homes they are putting on the market New construction homes for sale in Northwest Indiana currently have an average list price of $496,918 and a median list price of $459,900. These are up 5% and 6%, respectively, compared to a year ago. The average list price per finished square foot of these homes is a staggering $216! Essentially, buying a new construction home in Northwest Indiana is nearly a luxury purchase.

Luxury Homes for Sale in Northwest Indiana

338 luxury homes for sale in Northwest Indiana are currently listed on the NIRA Northwest Indiana MLS. This is an increase of 16% compared to a year ago. Luxury homes account for 20% of the homes for sale in Northwest Indiana.

Luxury homes for sale in Northwest Indiana have an average list price of $773,462 down 7% compared to a year ago. The median list price is also down 7% to $632,394. The list price per finished square foot is $246, and the median list price per finished square foot is $219. Both of these are essentially unchanged from a year ago.

Northwest Indiana Real Estate Market Forecast

Here, I provide my trend predictions for the Northwest Indiana real estate market over the next 90 days. This month I am going to stick with the same three topics from the previous month’s forecast, but new commentary on each of these.

Mortgage Interest Rates

Mortgage interest rates will continue to temper the housing market because they are likely to stay high. The U.S. 30-year mortgage average interest rate ended January at 6.95%, and we ended February at 6.76%. Despite this relaxing of interest rates I continue to believe over the next 90 days mortgage interest rates will remain in a channel from 6.5% to 7.125%.

Homebuyer Demand

Homebuyer demand also remains tempered. A notable piece of data is that during February we saw a 24% reduction in the number of showings per listing compared to a year ago. This was much larger than the 10% decrease we saw in January 2025 vs. January 2024. Closings were down 4% compared to a year ago, too. So, what’s to blame?

The weather was rough in February. It wasn’t very snowy, but it was quite cold. This followed January which had the coldest mean temperature in the continental U.S. since the late 1980s. Additionally, as the new presidential administration settles in, many consumers might be holding off on making large purchases.

Homebuyers have stepped back from the market a bit. It will be interesting to see if the pattern continues to set up as we move past the first 100 days of the new administration and winter thaws to spring.

Home Prices

Home prices continue to remain strong in Northwest Indiana. I believe we will continue to see home prices creep upward. The luxury market might continue to face some negative pressure as the year goes on. At this time, I do not see any catalysts though that would put meaningful negative pressure on home prices in Northwest Indiana.

Advice For Northwest Indiana Homebuyers & Home Sellers

Whether you are looking for homes for sale in Northwest Indiana to buy or thinking about selling your Northwest Indiana home here is some advice.

Homebuyers

Homebuyers should get out there in the marketplace. We are starting to see a nice selection of homes become available on the market. Additionally, if homebuyer activity continues to stall home sellers might become more agreeable as the market tips to favor sellers. Waiting for a big windfall is unlikely to be productive. The catalysts or events for home prices to fall sharply or interest rates to meaningfully fall are unlikely.

Moral of the story, let’s get you out there buying! Completing your Quadwalls Dream Home Finder Assistant is a great first step!

Home Sellers

The market continues to favor homebuyers. Sellers should be pricing their homes accurately and doing what they can to improve their overall aesthetic sentiment. Smart marketing will go a long way, too. Home sellers will benefit most financially by listing now. Home sellers get the most at the times of highest homebuyer volume. This occurs in March through early June. If you are thinking about selling, get on the path to selling.

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Northwest Indiana Real Estate Market Trends Wrap Up

The Northwest Indiana real estate market remains remarkably resilient. Macroeconomic indicators illustrate ongoing trends are likely to continue. This includes mortgage interest rates in the 6% to mid-7% range with home prices continuing to creep upward. The luxury market might face some pressure as we get into spring. I do expect a slightly stronger spring market in 2025 vs. 2024. Though inventory has slightly increased, savvy sellers can take advantage of the situation and end up with a great result.

If you ever want to talk about buying or selling a home in Northwest Indiana you can contact me at (219) 309-6098 or chuck@quadwalls.com.

The Quadwalls Team Of Northwest Indiana Real Estate Agents

About Quadwalls.com

Quadwalls.com is a real estate website founded in Valparaiso, Indiana. The purpose is to help homebuyers and sellers save money and make better decisions when buying or selling real estate. Quadwalls.com does this by connecting your excellent information about real estate in Northwest Indiana and connecting you with the best real estate agents in Northwest Indiana.

Tools to Help You Get Started

We have tools for you to use to help you with buying or selling a home in Northwest Indiana.

Tools for Homebuyers

• Quadwalls HomeFinder Assistant – Put some rocket fuel in your search by telling us what you are looking for. We’ll help you find it.
• The Quadwalls Home Search App – Our app is fast, easy to use, and can connect you with us. We are here to answer your questions about homes for sale in Northwest Indiana.
• The Blog – Our blog is loaded with information to help you with what you need to know when buying a home.
• The Team – A team of the best real estate agents in Northwest Indiana ready to help you find and buy your new home.
• Lenders – If you need a mortgage to buy a home but don’t know where to start we can help you. Click here to start the home mortgage pre-approval process with Jason Woodard at Diamond Residential Mortgage Corp.

Tools for Northwest Indiana Home Sellers

• Quadwalls E-Valuation – We offer the free service of telling you what your home is worth. It is all online but is more thorough than the automated zesty online valuations. One of our team agents will actually research what your home is worth.
• Quadwalls Low Real Estate Commission Fees – The Quadwalls Real Estate Team offers low real estate commission fees along with its full-feature home selling service.
• The Blog – Our blog is loaded with articles to help you understand what to do for a successful home sale and how to increase the value of your home.
• The Team – Our team ranks amongst the best real estate agents in Northwest Indiana.

* Data was pulled from the NIRA Northwest Indiana MLS on February 7, 2025.

**Specific homes for sale here were available as of February 7, 2025 but may have been sold at the time you are reading this post.