Indianapolis, IN 46202 Real Estate Market Report

ZIP Code: 46202
Report Date: May 2026
Market Temperature: COLD
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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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

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Market Trends & Context

Understanding Market Temperature

A Cold market indicates weak buyer demand relative to available inventory, typically characterized by declining or flat prices, extended days on market, and elevated inventory levels relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Indianapolis are 6.38%, reflecting the prevailing market environment for property owners in this area.

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. The neighborhood's primary market indicator is median sold price: $415,000, which represents the realized transaction level and should be used as the primary guide for current valuations; recent price direction is up based on available trend metrics.

2. Relative to seller expectations, the median listing price: $420,000 sits slightly above the median sold price, which may indicate limited upside for sellers and pricing friction between asking and final sale levels.

3. Liquidity is muted: the median days on market: 401 points to slower sales velocity and suggests sellers may need to price more competitively or allow longer marketing periods; this is consistent with the cold market temperature.

4. Macro headwinds are present — interest rate pressure: elevated — and combined with a down rent year-over-year trend, this may damp investor appetite and reduce buyer urgency in near-term transactions.

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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.

Indianapolis, IN 46202 Real Estate Market Report

ZIP Code: 46202
Report Date: May 2026
Market Temperature: COLD
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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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 Cold market indicates weak buyer demand relative to available inventory, typically characterized by declining or flat prices, extended days on market, and elevated inventory levels relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Indianapolis are 6.38%, reflecting the prevailing market environment for property owners in this area.

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. Median sold price: $350,000 is the primary signal of realized value in 46202; this level suggests modest price appreciation when combined with the documented price year-over-year trend of up, but pricing friction exists versus asking expectations given the median listing price: $406,000, which may indicate sellers are targeting a premium above recent transaction levels.

2. Median days on market: 421 points to materially slower sales velocity and suggests extended marketing periods for listings; this slower liquidity appears consistent with the market temperature characterization of cold and may require sellers to price more competitively to close within a typical timeline.

3. Median price per square foot: $255 indicates the unit-level pricing context buyers are paying in recent transactions; combined with slower velocity and a gap between median listing price and median sold price, underwriters and investors should assume there is pricing friction between asking and realized values.

4. Median market rent: $1,400 and the rent year-over-year trend of down reduce near-term rental upside for investors, while elevated interest rate pressure and the local 30-year fixed mortgage reference of 6.38% underscore higher financing costs; together these factors may constrain investor demand and favor buyers who can secure financing or cash purchases.

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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.