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 April 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

$240,065

$136/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$4,296(+1.8%)

Key Takeaway

Homes in Indianapolis have sold for 1.8% more than they did a year ago.

Summary: The median home sold price in Indianapolis was $240,065 in April 2024, up 1.8% from last year, and the median price per square foot was $136.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $162.5K$159.9K
-1.6%
2 $175K$179.9K
+2.8%
3 $230.3K$235K
+2.0%
4 $307.2K$307.2K
0%
5+ $430.1K$409.6K
-4.8%

Summary: Indianapolis housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.6%, 2 bedroom homes increased by 2.8%, 3 bedroom homes increased by 2%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 4.8%.

Median Sold Price Compared To Nearby Cities

Indianapolis
+1.8%
Center Township
+1.8%

Housing Supply in Indianapolis, IN

How many homes are available in Indianapolis, IN?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
3,7183,7280.3%

Summary: The Indianapolis real estate market had 3,728 homes for sale in April 2024, a 0.3% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 5764
+12.3%
2 852863
+1.3%
3 1,7901,805
+0.8%
4 797783
-1.8%
5+ 222213
-4.1%

Summary: The Indianapolis housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.3%, 2 bedroom homes increased by 1.3%, 3 bedroom homes increased by 0.8%, 4 bedroom homes decreased by 1.8%, and 5+ bedroom homes decreased by 4.1%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
1,0461,089+4.1%

Asking Price vs. Sold Price

493 Homes Were Sold
Under Asking

280 Homes Were Sold
At Asking

316 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. 45.3% of homes here sold below asking price last month.

Summary: A total of 1,089 homes were sold or pending in Indianapolis in April 2024, up by 4.1% month-over-month. Of the 1,089 sold homes, 45% were sold under asking, 26% were sold at asking, and 29% 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

Apr 2023Apr 2024CHANGE
30 Days32 Days+5.8%

Summary: Homes in Indianapolis had an average of 32 days on market in Apr 2024, up by 5.8% compared to last year.

Breakdown of Home Sale Times

779 Homes Were Sold
Under 30 Days

164 Homes Were Sold
In 30 - 90 Days

143 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 April 2024, 1089 homes were sold in Indianapolis; 72% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 13% 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 5 Days Ago

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