FORT WAYNE, Ind. (October 9, 2026)— Northeast Indiana’s housing market showed signs of slowing in September, but homes continued to sell quickly despite rising mortgage rates and affordability challenges.
According to the Upstate Alliance of REALTORS® Multiple Listing Service (UPSTAR MLS), homes spent a median of just 15 days on the market before going under contract, a 21% decrease from September 2025. The median sales price rose 7% to $265,000, while closed sales declined just 2% year over year.
September 2026 Housing Market Snapshot
Compared to September 2025:
| Market Indicator | September 2026 | Year-over-Year |
| New Listings | 804 | -8% |
| Pending Sales | 601 | -15% |
| Closed Sales | 698 | -2% |
| Median Sales Price | $265,000 | +7% |
Homes Continue to Sell Quickly Despite Slower Activity
One of September’s most encouraging indicators was the pace of home sales. The median time from listing to an accepted offer dropped to 15 days, compared with approximately 19 days a year earlier. Sellers also received an average of 96.6% of their listing price, up one percentage point year over year.
“While the number of transactions has slowed, homes that are priced appropriately are still moving quickly,” said Sue Teasdale, President of the UPSTAR MLS. “A median of just 15 days on the market tells us there is still demand for housing in our region. At the same time, rising prices and higher mortgage rates are making it increasingly difficult for many buyers to enter the market.”
Limited Inventory and Higher Mortgage Rates Challenge Buyers
According to the Indiana Association of REALTORS® Housing Hub, northeast Indiana had just 2.2 months of housing inventory in September, down 9% from a year earlier. Average daily inventory totaled 1,441 homes, a 7% decline.
Limited housing supply continues to support prices, but affordability remains a growing concern for local households. According to Freddie Mac, the national average 30-year fixed mortgage rate reached 7.40% on October 8, its highest level since November 2023, compared with 6.30% a year earlier.
While northeast Indiana’s diverse economy, supported by manufacturing, healthcare, logistics and other industries, provides a foundation for housing demand, higher home prices and borrowing costs continue to strain buyers’ purchasing power.
Looking Ahead
September’s 15% year-over-year decline in pending sales warrants attention. Pending contracts also fell 25% from August, considerably more than the typical 10% seasonal decline, potentially signaling fewer closed sales in the coming months.
Still, relatively stable closed sales, shorter marketing times and limited inventory indicate that northeast Indiana’s housing market remains active, even as buyers face greater financial pressures.
For additional housing statistics and market insights, visit www.upstarindiana.com.
ABOUT UPSTAR MLS
The September 2026 Monthly Market is published by the Upstate Alliance of REALTORS® Multiple Listing Service Inc. (UPSTAR MLS), a subsidiary of the Upstate Alliance of REALTORS®. The report is based on Residential Detached Single-Family homes, townhomes, and condominiums as reported to the Indiana Regional Multiple Listing Service (IRMLS) and collected by the IAR Housing Hub. The report may not reflect all real estate activity in the marketplace.
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