Mishawaka housing market update: competitive pricing, tight inventory, and rates dip under 6%
Mishawaka, IN – March 2, 2026 – Prices remain competitive amid tight inventory, while 30-year mortgage rates dipped below 6% ahead of spring.
Mishawaka, IN real estate remained competitive heading into spring. Recent closed-sale snapshots point to higher prices than a year ago, even as homes generally took longer to move than last year.
Top takeaways
- Recent median sale price: about $185K (Jan. 2026), up 18.4% year over year.
- Inventory is still tight: Zillow reported 123 homes in for-sale inventory and 37 new listings (data through Jan. 31, 2026).
- Rates eased: Freddie Mac’s weekly PMMS put the 30-year fixed average at 5.98% (Feb. 26, 2026).
Market snapshot
Redfin’s January 2026 view showed 25 homes sold and a 45-day median time on market. On the Zillow side, typical home value was about $198K through Jan. 31, 2026, and its reported median sale price was about $188K as of Dec. 31, 2025.
What’s for sale (price points to watch)
- Example entry point: a 4-bed home listed around $200K.
- Example move-up range: larger 4–5 bedroom listings around $320K to $389K.
Looking ahead, one early indicator to watch is whether new listings begin to outpace pending sales—often a sign that leverage may be shifting as the spring season ramps up.