Indiana’s real estate market is experiencing a period of moderate growth and increased inventory, offering opportunities for both buyers and sellers. Here’s a detailed overview of the current market conditions:
🏠 Statewide Market Overview
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Median Sale Price: In April 2025, the median sale price for homes in Indiana was $265,900, which is approximately 36.6% lower than the national average .
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Inventory Levels: There were 22,423 homes for sale, marking an 11.9% increase year-over-year. Additionally, 9,123 new listings were added, up 4.5% from the previous year
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Market Dynamics:
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Homes Sold Above List Price: 23.2% of homes sold above their list price, a slight decrease from the previous year.
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Price Reductions: 38.2% of listings experienced price drops, indicating a more negotiable market .
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Sale-to-List Price Ratio: The ratio stands at 98.1%, suggesting that homes are selling close to their asking prices .
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Mortgage Rates: The average 30-year mortgage rate in Indiana is approximately 6.84%, slightly below the national average, which may influence buyer affordability .
🌆 Regional Highlights
Central Indiana (Including Indianapolis)
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Median Sale Price: In April 2025, the median home sale price in the 16-county central Indiana region increased by 3.4% to $305,000 compared to April 2024.
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Market Activity: Indianapolis has been highlighted as one of the top housing markets for 2025, climbing from No. 4 in 2024 to No. 2 overall and ranking as the hottest metro in the Midwest. The real estate platform attributes this rise to Indy’s strong home price forecast and its relative affordability compared to the nearby Chicago metro area.
Northeast Indiana (Fort Wayne Area)
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New Listings: In April 2025, 896 homes were listed, marking a 9% increase compared to April 2024.
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Pending Sales: There were 675 homes under contract, a slight decline of 3% year-over-year.
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Closed Sales: 582 transactions were completed, representing a 10% decrease from the same period last year.
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Median Sale Price: The median sales price rose by 4% to $245,000 compared to April 2024.
🔮 Market Outlook
Indiana’s housing market is expected to continue its moderate growth trajectory throughout 2025. The increase in inventory provides more options for buyers, while sellers can still benefit from rising home prices. However, affordability remains a concern, especially with mortgage rates hovering around 6.84%. Buyers should be prepared for a competitive market, particularly in high-demand areas like Indianapolis.