Indianapolis, IN 46203 Real Estate Market Report

ZIP Code: 46203
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The Indianapolis market as of February 2026 is characterized by a median sold price of $177,950, reflecting a stable environment despite some localized price softening. The neighborhood has increased up since 2023, indicating a positive trend in market value. However, the median days on market stands at 172, suggesting a slower sales velocity, which may indicate a shift towards a more balanced market as inventory levels rise moderately.

With elevated inventory levels relative to sales activity, buyers may find more options available, but this could also lead to increased pricing friction as sellers adjust expectations. The median listing price of $220,945 shows a notable gap from the sold price, highlighting potential challenges for sellers in achieving their asking prices. Overall, the market appears to be in a neutral state, supported by strong local job growth and affordability, yet tempered by moderate interest rate pressure.

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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

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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, around 6.01% are slightly below the national average of 6.27% for February 2026, suggesting a minor cost advantage for recent borrowers in this market.

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 median sold price of $177,950 reflects a stable market, with prices up since 2023, indicating positive appreciation.

2. With a median days on market of 172, the market exhibits slower sales velocity, suggesting a shift towards a more balanced environment.

3. The median listing price at $220,945 shows a significant gap compared to the sold price, indicating potential pricing friction for sellers.

4. Inventory levels are elevated, suggesting excess supply relative to sales activity, which may provide buyers with more choices.

5. The median market rent of $1,397 is up, indicating a strengthening rental market that supports housing demand.

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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.