Home prices in the South Bend area continued to climb in September, even as fewer buyers signed contracts and the number of homes for sale across Indiana reached a seven-year high.
The median sale price in the South Bend market rose 13% from September 2025 to $277,250, according to the Indiana Association of Realtors. New pending sales fell 18% year over year.
Elkhart was among the areas with stronger growth in new listings, which increased 9% from a year earlier. Michigan City-LaPorte also saw listings rise 9%. That market recorded 128 home sales in September, up 23% from a year earlier, and 126 new pending contracts, a 12% increase.
Across Indiana, 7,203 homes sold last month, down 4% from September 2025. The statewide median sale price was $278,000, up 3%. Sellers received an average of 95.4% of their original asking price.
Buyers had more homes to choose from: Indiana averaged 21,818 homes for sale per day, the highest level in seven years. Homes took a median of 25 days to go under contract, two days longer than a year earlier.
The Indiana Association of Realtors said mortgage rates reached 7% in September for the first time since January 2025, contributing to the typical post-Labor Day slowdown. Statewide, new pending sales fell 10% year over year, while new listings were down 2%.
