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 10 Days Ago

Newest Listings in Indianapolis, IN

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