Indianapolis, IN 46217 Real Estate Market Report
ZIP Code: 46217
Report Date: May 2026
Market Temperature: NEUTRAL
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.
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.
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.
Rental Market
Property Taxes
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.
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 46217 market are 6.38%, reflecting the prevailing interest rate 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.
Key Findings
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$249,900 median sold price is the primary indicator of market value and recent transactions in 46217, and it suggests modest appreciation given the broader context of an up price year-over-year trend.
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$279,900 median listing price sits above the median sold price, which may indicate pricing friction or seller expectations that require negotiation to reach the representative recent sale level.
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256 median days on market points to slower sales velocity and suggests that liquidity is moderate rather than brisk, so sellers should expect longer marketing periods before achieving the median sold price.
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156 median price per square foot and $1,765 median market rent together indicate established valuation benchmarks for SFR and condo comparisons, while elevated interest rate pressure (current 30-year fixed at 6.38%) creates a headwind for affordability and may temper buying urgency despite neutral market temperature and an up rent year-over-year trend.
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.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold below market average
Sold below market average
Indianapolis, IN 46217 Real Estate Market Report
ZIP Code: 46217
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.
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.
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.
Rental Market
Property Taxes
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.
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 46217 market are 6.38%, reflecting the prevailing interest rate 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.
Key Findings
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The neighborhood's primary market indicator, median sold price, is 199,900, anchoring recent transaction-level value and serving as the most reliable signal of local pricing (representative recent sale).
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Sales are relatively slow with a median days on market of 323, which suggests slower sales velocity and potential pricing friction even though the broader market temperature is neutral.
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Price momentum is positive with the price year-over-year trend up, while the median price per square foot is 125, indicating modest appreciation in unit-level pricing.
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Rental fundamentals show rent year-over-year trend up and a median market rent of 1,425, supporting demand from investors and renters, but elevated interest rate pressure at 6.38% on 30-year fixed mortgages introduces affordability headwinds and may constrain near-term buyer activity (elevated interest rate pressure).
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.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold at market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold below market average
Sold below market average
Sold below market average
Sold below market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.3% rate, 1.2% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 5/1/2026
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