The national headline is almost never our answer. Here is how you actually tell, and where St. Joseph County sits right now.
One number: months of supply. It is how long it would take to sell every home currently for sale at the current pace of sales, with nothing new listed. Under about four months is a seller's market. Over about six is a buyer's market. In between is balanced.
Everything else — days on market, price changes, how busy the open houses feel — is downstream of that one number.
Source: Indiana Association of REALTORS monthly market report, May 2026.
So: still firmly a seller's market by the four-month rule — but supply is building, not shrinking. That "expected range" gap matters more than the headline number. We are carrying more inventory than this market normally carries at this point in the year, and the direction has been up.
Supply is quietly building, not shrinking. That does not make it a buyer's market and anybody telling you it does is selling something. What it does mean is that the automatic multiple-offer situation is no longer automatic, and pricing sloppily costs more than it did a year ago. Sellers still have the advantage here. They just have less room to be careless with it.
I re-run this every month. If you want the version for your specific price band and town rather than the county-wide figure, ask — that is the number that actually applies to your house.
Tell me what you're working on and I'll get back to you personally. No pressure, and if I'm not the right fit for you I'll say so.
Your message is with me. I read every one of these myself and I’ll get back to you personally, usually the same day.
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Gutermuth Homes at Cressy & Everett Real Estate. Garrett Gutermuth, REALTOR® — Licensed Real Estate Broker, State of Indiana. 332 N Ironwood Drive, South Bend, IN. Serving St. Joseph & Elkhart Counties.
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This page is general information about the Michiana real estate market, not advice about your specific situation. Market conditions change. For advice on your own property or transaction, talk to me directly.