Indianapolis, IN
Housing Market
Indianapolis' housing market is dynamic, with home prices and demand constantly shifting. Houzeo's housing market report monitors these fluctuations, providing real-time insights into Indianapolis' supply and demand trends. Our report equips you with all the information you need to make well-informed decisions.
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Buy or SellIndianapolis Housing Market Overview
The Indianapolis real estate market is moderately competitive, with signs of balance between buyers and sellers. Median home prices have risen slightly by 2.2% year-over-year, reaching $235,000 at present. Homes spend an average of 49 days on the market before going under contract. Only 727 homes were sold this month, marking an 11.4% drop from last year.
Indianapolis' housing market offers a range of options, from downtown condos to suburban ranches and historic bungalows. The steady home value growth is driven by the city's strong job market, affordability, and its mix of midwestern charm and urban convenience.
Indianapolis' housing market offers a range of options, from downtown condos to suburban ranches and historic bungalows. The steady home value growth is driven by the city's strong job market, affordability, and its mix of midwestern charm and urban convenience.
Median Sale Price
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Indianapolis
Indianapolis Housing Supply
The city attracts both investors and first-time homebuyers thanks to its affordability. There are currently 1,711 Indianapolis houses for sale, a 1.3% increase from last year. This also includes 912 new listings. With 2.4 months of housing supply, competition remains moderate.
Housing supply in Indianapolis follows seasonal trends, with more listings in spring and summer. Sellers typically list in early spring, and buyers aim to close before the holidays. Indianapolis offers great value with diverse neighborhoods like Broad Ripple, Fountain Square, and Meridian-Kessler, which remain popular despite higher prices. Buyers should act quickly in these sought-after areas.
Housing supply in Indianapolis follows seasonal trends, with more listings in spring and summer. Sellers typically list in early spring, and buyers aim to close before the holidays. Indianapolis offers great value with diverse neighborhoods like Broad Ripple, Fountain Square, and Meridian-Kessler, which remain popular despite higher prices. Buyers should act quickly in these sought-after areas.
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Indianapolis
Indianapolis Housing Demand
Indianapolis' real estate market is shifting, with only 13.5% of homes selling above the list price. Meanwhile, 36.1% of homes sell below asking, which represents a 5.7% increase from last year. The sale-to-list price ratio is 97.3%, an indicator that buyers have more negotiating power.
Sellers should price their homes accurately from the start to avoid extended market times. Offering strategic concessions can attract more potential buyers. Listing on the Indiana MLS increases your property's visibility. Buyers can take advantage of current market conditions by negotiating. Focus on homes with price reductions, or those that have been on the market for a while for added value.
Sellers should price their homes accurately from the start to avoid extended market times. Offering strategic concessions can attract more potential buyers. Listing on the Indiana MLS increases your property's visibility. Buyers can take advantage of current market conditions by negotiating. Focus on homes with price reductions, or those that have been on the market for a while for added value.
Homes Sold Above List Price
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Strong
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Balanced
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Buyer’s Market
Seller’s Market
Balanced: Neither buyers nor sellers dominate the market. Supply meets demand, prices stay stable, and both parties negotiate on an equal footing.
Indianapolis Market: When to Buy or Sell?
The Indianapolis housing market fluctuates with the seasons, much like the broader Indiana housing market. More inventory in spring benefits buyers, while increased demand in summer favors sellers.
With just 2.4 months of supply in Indianapolis, the market leans slightly toward sellers. This contrasts with the US real estate market, which is more balanced. As it stands, sellers should price competitively to attract more interest and close faster. Understanding these trends will help you time your transaction in the Indianapolis market.
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Frequently Asked Questions
How have the average home prices in Indianapolis changed over the past year?
The median home price in Indianapolis has increased by 2.2% over the past year, and is currently at $235,000. You can estimate your home's worth in the present market, and also compare it with nearby homes, with the help of our free home value estimator.
What is the Indianapolis housing market forecast for the near future?
The average home price in Indiana should continue its modest upward trend in the coming months. Demand will likely stabilize with improving inventory. However, rising mortgage rates might moderate price appreciation to some extent.
What's the average home price in Indianapolis, Indiana?
The average house price in Indianapolis varies by neighborhood and size. Costs typically range from $177,000 for condos to $246,500 for larger properties. If you're looking for something affordable, you can check out cheap homes for sale in Indianapolis within your budget.
Is this a good time to buy a home in Indianapolis, IN?
Assess Indianapolis real estate market trends for supply and demand insights. This helps you determine if it's a buyer's or seller's market. At present, buyers can benefit from increasing inventory and negotiation opportunities. If you find the right property and plan to stay long-term, it could be a good time to buy a house in Indianapolis.
What are the current Indianapolis housing market trends?
The housing market in Indianapolis shows signs of balance. The intensity of competition varies by neighborhood and property type. Homes are currently moving slightly slower than in previous years. If you want to buy or sell in Indianapolis, check the city's housing market trends for the best timing.
When will the Indianapolis housing market crash?
Indianapolis housing market forecasts suggest that a crash remains unlikely. Home prices continue to rise modestly, and stable growth should continue despite higher interest rates.
How to buy a home in Indianapolis?
Start with a clear budget and mortgage pre-approval. Then, search for Indianapolis houses for sale. Submit offers, secure loans, and complete the closing process.
How can I list Indianapolis, Indiana, houses for sale?
You can list your Indianapolis home with a Flat Fee MLS Indiana listing service. High-tech MLS sites like Houzeo assign the right paperwork based on your location. 🚀
What is the average mortgage rate for buyers in Indianapolis?
The state-wide average mortgage rate fluctuates between 6.4% and 6.9%. Rates depend on market conditions and your credit score. Always check current rates with lenders.
What is the cost of living in Indianapolis, Indiana?
Indianapolis' cost of living is 9% below the national average. Housing costs are particularly reasonable, with a median price of only $235,000. Healthcare and transportation costs are also relatively affordable. As a result, Indianapolis attracts families and professionals alike.
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