NWI Luxury Real Estate Surge: $1M+ Listings on the Rise

“$1 million may be the old luxury threshold—now $2 million may become the new entry point in NWI.”

- Michael Elkmann | REALTOR®

Northwest Indiana is seeing an explosive surge in luxury real estate. Over the past year, Lake County had 56 listings over $1 million, Porter County had 72, and LaPorte County logged 39 million-dollar listings—up from just 3 in 2017 in Lake County alone. Home prices have nearly doubled in a decade, fueled by in-migration from Illinois, rising construction costs, and low inventory. Here’s why buyers—and sellers—are flocking to luxury listings now.

Market Stats

Listings Over $1MM Within the Past year

Lake Co: 56

Porter: 72

LaPorte: 39

Sales of >$1MM Homes Within the Past Year

Lake: 17

Porter: 21

LaPorte: 23

Homes previously listed at ~$600K are selling for $1M+ now!

Buyer Profiles

Chicago-exec relocators, Indiana professionals, upsizers, and growing families!

Local Hotspots

Depending on the lifestyle, amenities, and local attractions buyers prefer, >$1MM listing are popping up across the region! Here are a couple hotspots!

• Munster gated communities (i.e. Park West, Briar Ridge)

• Lakefront estates on Lake Michigan & LaPorte lakes

Let's Talk Strategy!

Sellers: Use cozy-lux staging inside your home—warm neutrals, layered lighting, mature accents. Curb appeal is a must- get those green thumbs ready! Overall, think modern, think classy, think $1MM lifestyle!

Buyers: Monitor interest rates and act fast in tight markets! Interest rates mean a larger cash difference in higher priced properties. It's paramount you have proof of funds or a solid pre-approval IN-HAND prior to seeing higher priced properties. That said, there are numerous creative financing options, and Michael E Realty is dedicated to helping you navigate them with his trusted lender referral partners and keeping as much money in your pocket as possible! Additionally, don't be afraid to spend the money up-front for comprehensive inspections to ensure you don't run into larger expenses down the road! Bigger houses=bigger potential problems.

Conclusion

Thinking of buying or selling luxury in Northwest Indiana? DM me for a personalized market review and private access to showcase homes!

For a deeper dive into the luxury market or selling/buying million dollar homes, contact Michael Elkmann | REALTOR® HERE

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