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 October 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

$245,515

$139/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$10,363(+4.4%)

Key Takeaway

Homes in Indianapolis have sold for 4.4% more than they did a year ago.

Summary: The median home sold price in Indianapolis was $245,515 in October 2024, up 4.4% from last year, and the median price per square foot was $139.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $159.9K$170K
+6.3%
2 $175.5K$184.9K
+5.4%
3 $230K$240K
+4.3%
4 $305K$314.5K
+3.1%
5+ $415K$415K
0.0%

Summary: Indianapolis housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.3%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Center Township
+6.4%
Indianapolis
+4.4%

Housing Supply in Indianapolis, IN

How many homes are available in Indianapolis, IN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4,2224,378+3.7%

Summary: The Indianapolis real estate market had 4,378 homes for sale in October 2024, a 3.7% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 5056
+12.0%
2 854913
+6.9%
3 2,1302,195
+3.1%
4 931965
+3.7%
5+ 257249
-3.1%

Summary: The Indianapolis housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12%, 2 bedroom homes increased by 6.9%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes decreased by 3.1%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1,010946-6.3%

Asking Price vs. Sold Price

519 Homes Were Sold
Under Asking

256 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. 54.9% of homes here sold below asking price last month.

Summary: A total of 946 homes were sold or pending in Indianapolis in October 2024, down by 6.3% month-over-month. Of the 945 sold homes, 55% were sold under asking, 27% 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

Oct 2023Oct 2024CHANGE
25 Days31 Days+25.1%

Summary: Homes in Indianapolis had an average of 31 days on market in Oct 2024, up by 25.1% compared to last year.

Breakdown of Home Sale Times

642 Homes Were Sold
Under 30 Days

209 Homes Were Sold
In 30 - 90 Days

87 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 October 2024, 946 homes were sold in Indianapolis; 68% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 9% 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 16 Days Ago

Newest Listings in Indianapolis, IN

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