Indianapolis, IN 46202 Real Estate Market Report

ZIP Code: 46202
Report Date: March 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The median sold price in Indianapolis, IN (ZIP: 46202) stands at $399,900, reflecting a robust market despite elevated interest rates. The neighborhood has increased 15% since 2023, indicating a strong upward trend in property values. This appreciation is supported by steady demand driven by local economic growth, particularly in the tech sector, which continues to bolster buyer interest and market activity.

Current market conditions reveal elevated inventory levels, suggesting a shift towards a more balanced state. While the median listing price is $352,450, the significant gap between listing and sold prices may indicate pricing friction, as sellers adjust expectations in response to market realities. The median days on market is notably high at 1,055 days, which points to slower sales velocity and may reflect a cautious buyer sentiment amidst the prevailing economic conditions.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Indianapolis, IN, average around 6.375% to 6.85%, which is lower than the 6.85% average rate seen earlier in 2026, suggesting a slight cost opportunity for new financing.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. $399,900 median sold price indicates strong market performance despite elevated interest rate pressure.

2. Elevated inventory levels suggest a shift towards a balanced market, with sellers needing to adjust expectations.

3. $352,450 median listing price shows a notable gap compared to sold prices, indicating potential pricing friction.

4. 1,055 days median days on market reflects slower sales velocity, suggesting a cautious buyer sentiment.

5. $1,760 median market rent is rising, which may signal ongoing demand for rental properties in the area.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.