The housing market in Merrillville continues to see strong price appreciation, with values up 127.3% compared to last year. Home prices have decreased 17.5% in the past month. With 2.8 months of supply, Merrillville's inventory levels remain relatively tight. Properties are selling within just 12 days on average, much faster than the historical norm of 38 days. A significant 36.4% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 25.0% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Merrillville market with the affordability index at 33.7. Based on current market indicators, home prices in Merrillville are projected to decrease by approximately 3.2% over the next month.