Is Gary, IN 46403 a buyer’s or seller’s market?

The Gary housing market right now

In the three months ending August 31, 2026, 13% of homes in Gary, IN 46403 sold above their list price, the typical home went under contract in 43 days and there were 2.7 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 33 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 19%, homes sold more slowly (36 days then) and the median sale price rose 7% to $218,405. Overall, Gary is less competitive than a year ago, which gives buyers more room.

Within Lake County, homes here sell more slowly than in 71% of the county’s ZIP codes, and sell less often over asking than in 83%. On our competition score, Gary ranks #249 of 306 IN ZIP codes with enough sales (score 35 out of 100).

Nearby, buyers who want less competition could look at Gary 46402 (5% sold over asking) or Gary 46407 (9% sold over asking), while Hammond 46327 (53% sold over asking) and Hammond 46324 (39% sold over asking) are even more competitive.