Is Indianapolis, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Indianapolis is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Indianapolis has remained a Seller's Market.

Key Takeaway

Indianapolis is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Indianapolis, IN

How much do homes in Indianapolis, IN cost?

Median Sold Price

$237,604

$134/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$2,161(+0.9%)

Key Takeaway

Homes in Indianapolis have sold for 0.9% more than they did a year ago.

Summary: The median home sold price in Indianapolis was $237,604 in February 2024, up 0.9% from last year, and the median price per square foot was $134.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $154.4K$165K
+6.8%
2 $170.8K$179.9K
+5.3%
3 $230.5K$231.9K
+0.6%
4 $309.9K$302.7K
-2.3%
5+ $435.1K$409.6K
-5.9%

Summary: Indianapolis housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.8%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 0.6%, 4 bedroom homes decreased by 2.3%, and 5+ bedroom homes decreased by 5.9%.

Median Sold Price Compared To Nearby Cities

Indianapolis
+0.9%
Center Township
-1.7%

Housing Supply in Indianapolis, IN

How many homes are available in Indianapolis, IN?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
3,0463,252+6.8%

Summary: The Indianapolis real estate market had 3,252 homes for sale in February 2024, a 6.8% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 4658
+26.1%
2 681746
+9.5%
3 1,4461,570
+8.6%
4 674690
+2.4%
5+ 199188
-5.5%

Summary: The Indianapolis housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 26.1%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes decreased by 5.5%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
627755+20.4%

Asking Price vs. Sold Price

464 Homes Were Sold
Under Asking

158 Homes Were Sold
At Asking

133 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Indianapolis, you may be able to get a good deal. 61.5% of homes here sold below asking price last month.

Summary: A total of 755 homes were sold or pending in Indianapolis in February 2024, up by 20.4% month-over-month. Of the 755 sold homes, 61% were sold under asking, 21% were sold at asking, and 18% were sold over asking.

Days on Market for Indianapolis, IN

How long does it take to sell a home in Indianapolis, IN?

Average Sale Time

Feb 2023Feb 2024CHANGE
53 Days57 Days+7.6%

Summary: Homes in Indianapolis had an average of 57 days on market in Feb 2024, up by 7.6% compared to last year.

Breakdown of Home Sale Times

392 Homes Were Sold
Under 30 Days

225 Homes Were Sold
In 30 - 90 Days

134 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Indianapolis are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 755 homes were sold in Indianapolis; 52% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Indianapolis, IN

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