Indianapolis, IN 46208 Real Estate Market Report

ZIP Code: 46208
Report Date: February 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: 46208) is currently $214,900, reflecting a market that has decreased 8% since 2022. This decline signals a shift in buyer sentiment and market dynamics, as elevated inventory levels contribute to a more balanced market environment. The median listing price stands at $202,900, indicating a slight gap between seller expectations and actual market transactions, which may suggest a need for price adjustments to stimulate sales activity.

Market velocity appears to be slower, with properties remaining on the market for a median of 217 days. This extended timeframe indicates a potential cooling in buyer demand, compounded by elevated interest rate pressure that may be impacting affordability. Despite these challenges, the local economy remains robust, providing a foundation for potential future appreciation as the market stabilizes.

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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

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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 the Indianapolis market average around 6.01% to 6.85%, which is comparable to or slightly higher than typical 2026 origination rates around 5.875% to 6.10%.

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 is $214,900, which has decreased 8% since 2022, indicating a softening market.down

Elevated inventory levels suggest excess supply relative to sales activity, contributing to a slower transaction volume.down The median days on market is 217, reflecting a slower sales velocity and potential pricing friction.down The median market rent is $1,397, which has shown an upward trend, indicating a growing rental demand amidst the sales market's challenges.up The property tax rate is 0.77%, which remains stable and may influence buyer affordability in the current market climate.neutral

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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.