Michiana Housing Market Report — May 2026
May was the spring market at full speed. The typical St. Joseph County home reached $232,366 — year-over-year growth accelerating again to +4.9% — with Berrien County at $283,941 (+5.4%). March closings ran hot in nearly every town, and marketing times collapsed across the corridor. Home-value data runs through April 2026; closed sales through March 2026.
A fast month, everywhere at once
- Mishawaka — the month's headline: a $219,750 median sale price, up 30.0% year over year, on 26-day marketing times. Even allowing for small-sample march closings, Mishawaka's spring reflected genuine competition for mid-priced homes.
- South Bend — $189,900 median (+18.7%), 35 days on market, inventory still down 24% — the fourth straight month of double-digit scarcity.
- Elkhart — $177,450 (+5.6%) and homes moving in 25 days.
- Granger — the region's most interesting split screen: homes that sold went in just 23 days at a $415,000 median (+4.5%) — while active inventory surged 71% year over year. Sellers were arriving faster than buyers could absorb them, even in a fast market.
- Niles — $206,450 median (+41.0%) on the year's thinnest inventory (22 listings, −26.7%); the smoothed value line (+5.2%) kept the honest score.
Rates
The 30-year fixed averaged 6.53% — the year's high to that point — and the market ran hot anyway. Michiana's price points keep it liquid at rates that stall costlier metros.
What to watch
Granger's inventory wave against its 23-day sales pace — one of those numbers had to give — and whether Mishawaka's +30% print would hold in the April closings.
Sources: Zillow Research (home values), Redfin Data Center (sales), FRED / Freddie Mac (rates). Methodology on the About page.
Archive edition: compiled retrospectively from current (revised) Zillow, Redfin, and FRED source data for this month.
Town-by-town data
| Town | Typical home value | YoY | 5-yr trend | Median sale price | Days on mkt | Inventory |
|---|---|---|---|---|---|---|
| South Bend, IN | $200K | +5.7% | $190K | 35 | 199 | |
| Mishawaka, IN | $214K | +3.6% | $220K | 26 | 66 | |
| Elkhart, IN | $230K | +5.3% | $177K | 25 | 64 | |
| Granger, IN | $423K | +3.9% | $415K | 23 | 65 | |
| Niles, MI | $215K | +5.2% | $206K | 29 | 22 | |
| Goshen, IN | $282K | +5.2% | $230K | 34 | 26 | |
| Michigan City, IN | $195K | +3.5% | $152K | 22 | 99 | |
| La Porte, IN | $280K | +4.1% | $170K | 41 | 52 | |
| St. Joseph, MI | $342K | +4.3% | $434K | 56 | 38 | |
| Benton Harbor, MI | $158K | +3.8% | $99K | 55 | 29 | |
| New Buffalo, MI | $676K | +8.3% | $670K | 53 | 31 | |
| Three Oaks, MI | $346K | +11.9% | $350K | 102 | 10 | |
| Dowagiac, MI | $236K | +7.2% | $126K | 37 | 18 | |
| Edwardsburg, MI | $314K | +4.2% | $300K | 172 | 2 | |
| Osceola, IN | $295K | +3.9% | $382K | 88 | 4 | |
| Nappanee, IN | $300K | +6.3% | $160K | 29 | 6 | |
| Middlebury, IN | $387K | +7.0% | $330K | 25 | 4 | |
| Bremen, IN | $286K | +6.1% | $200K | 21 | 3 | |
| Plymouth, IN | $249K | +5.5% | $195K | 28 | 8 | |
| Warsaw, IN | $281K | +3.5% | $265K | 29 | 50 |