As of April 2025, Central Indiana's housing market is experiencing a period of stabilization following the rapid growth spurred by the COVID-19 pandemic. While home prices remain elevated, there are emerging opportunities for both buyers and sellers.
Market Overview
The median sales price for single-family homes in Central Indiana reached approximately $295,000 in late 2024, reflecting a modest year-over-year increase of 2.8% . This plateau suggests that the market is transitioning from the rapid price escalations seen during the pandemic.
Inventory and Buyer Opportunities
Active inventory has risen to over 5,800 homes, marking a 14% increase from the previous year. This growth provides buyers with more options and slightly longer decision-making periods, as the median days on market increased to 17 days. However, it's important to note that inventory levels are still below the national average, maintaining a competitive edge for sellers.
Interest Rates and Affordability
Mortgage rates have stabilized around 6.85%, offering some relief compared to the previous year's higher rates. While this is beneficial for buyers, affordability remains a concern, particularly for first-time homebuyers and those in lower price segments.
Market Outlook
Looking ahead, experts anticipate that Central Indiana will continue to be a strong housing market in 2025. The area's economic growth, coupled with increasing inventory, is expected to support a balanced market. Buyers may find more favorable conditions, while sellers can still achieve competitive prices with well-presented homes.
For those considering entering the market, whether buying or selling, staying informed about local trends and working with experienced real estate professionals can provide a strategic advantage in navigating the evolving landscape of Central Indiana's housing market.