2024 Market Review -- Indianapolis, IN

[Tyler Lingle]

Indianapolis is seeing steady property value growth. Indy is up on average 3.7% YoY in median sales price.

Inventory on the market has been steadily rising. Indy is up 24.3% on the year, with 5,650 listings on the market as of August 2024 data. 

Days on market is nearly the same as this time in 2023, showing a reliably strong seller's market, yet not as competitive and crazy as COVID-era. Median days on market is 15 days. Seller's are receiving 98.3% of list price. 

Rent growth had the most gains in 2022, but 2024 has seen modest gains. 

Rates have now decreased from averages in the mid-7's to now upper-5's, yet the market has not seen a "speed up" -- likely due to the seasonal swing, and the upcoming election. 

2025 should see strong property value growth, with increased inventory, but also increased buyer activity with rates expected to continue downward. 

SOURCE: Mibor.com