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 November 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

$248,146

$140/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$13,092(+5.6%)

Key Takeaway

Homes in Indianapolis have sold for 5.6% more than they did a year ago.

Summary: The median home sold price in Indianapolis was $248,146 in November 2024, up 5.6% from last year, and the median price per square foot was $140.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $165.5K$174.7K
+5.6%
2 $177K$185K
+4.5%
3 $230K$240.1K
+4.4%
4 $305K$315.2K
+3.3%
5+ $410.2K$421.3K
+2.7%

Summary: Indianapolis housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.6%, 2 bedroom homes increased by 4.5%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 2.7%.

Median Sold Price Compared To Nearby Cities

Rocky Ripple
+15.9%
Center Township
+8.7%
Indianapolis
+5.6%

Housing Supply in Indianapolis, IN

How many homes are available in Indianapolis, IN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
4,2564,008-5.8%

Summary: The Indianapolis real estate market had 4,008 homes for sale in November 2024, a 5.8% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 4851
+6.3%
2 874852
-2.5%
3 2,1351,991
-6.7%
4 943891
-5.5%
5+ 256223
-12.9%

Summary: The Indianapolis housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6.3%, 2 bedroom homes decreased by 2.5%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes decreased by 5.5%, and 5+ bedroom homes decreased by 12.9%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1,004830-17.3%

Asking Price vs. Sold Price

429 Homes Were Sold
Under Asking

231 Homes Were Sold
At Asking

170 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. 51.7% of homes here sold below asking price last month.

Summary: A total of 830 homes were sold or pending in Indianapolis in November 2024, down by 17.3% month-over-month. Of the 830 sold homes, 52% were sold under asking, 28% were sold at asking, and 20% 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

Nov 2023Nov 2024CHANGE
28 Days36 Days+24.5%

Summary: Homes in Indianapolis had an average of 36 days on market in Nov 2024, up by 24.5% compared to last year.

Breakdown of Home Sale Times

529 Homes Were Sold
Under 30 Days

210 Homes Were Sold
In 30 - 90 Days

84 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 November 2024, 830 homes were sold in Indianapolis; 64% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 10% 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 17 Days Ago

Newest Listings in Indianapolis, IN

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