Is Indianapolis, IN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Indianapolis has remained a Seller's Market.
Housing Prices in Indianapolis, IN
How much do homes in Indianapolis, IN cost?
Median Sold Price
$239,776
$135/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Indianapolis was $239,776 in March 2024, up 1.2% from last year, and the median price per square foot was $135.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $157.9K | $165K | +4.5% |
2 Bedrooms | $174.5K | $179.9K | +3.1% |
3 Bedrooms | $231.8K | $234K | +0.9% |
4 Bedrooms | $309.9K | $304.8K | -1.6% |
5+ Bedrooms | $433.5K | $404.6K | -6.7% |
Summary: Indianapolis housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.5%, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 0.9%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes decreased by 6.7%.
Median Sold Price Compared To Nearby Cities
Indianapolis | $237K | $239.7K | +1.2% |
Center Township | $180.3K | $181.8K | +0.8% |
Housing Supply in Indianapolis, IN
How many homes are available in Indianapolis, IN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
3,367 | 3,616 | +7.4% |
Summary: The Indianapolis real estate market had 3,616 homes for sale in March 2024, a 7.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 60 | 57 | -5.0% |
2 Bedrooms | 764 | 846 | +10.7% |
3 Bedrooms | 1,609 | 1,736 | +7.9% |
4 Bedrooms | 743 | 773 | +4.0% |
5+ Bedrooms | 191 | 204 | +6.8% |
Summary: The Indianapolis housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 5%, 2 bedroom homes increased by 10.7%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 6.8%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
811 | 989 | +21.9% |
Asking Price vs. Sold Price
502 Homes Were Sold
Under Asking
262 Homes Were Sold
At Asking
225 Homes Were Sold
Over Asking
Summary: A total of 989 homes were sold or pending in Indianapolis in March 2024, up by 21.9% month-over-month. Of the 989 sold homes, 51% were sold under asking, 26% were sold at asking, and 23% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
48 Days | 45 Days | -6.8% |
Summary: Homes in Indianapolis had an average of 45 days on market in Mar 2024, down by 6.8% compared to last year.
Breakdown of Home Sale Times
614 Homes Were Sold
Under 30 Days
183 Homes Were Sold
In 30 - 90 Days
189 Homes Were Sold
Over 90 Days
Summary: During March 2024, 989 homes were sold in Indianapolis; 62% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.