GemHausNew report

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.

Analysis Window
90 Days
Total Properties Analyzed
85
Active Listings
53
Sold Properties
32

Market Metrics

Median Listing Price
$279,900
Median Sold Price
$249,900
Median Price per Sqft
$156/sqft

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

Median Market Rent
$1,765

Property Taxes

Property Tax Rate
1.17%

Liquidity & Velocity

Median Days on Market
256
Sale-to-List Ratio
100.0%

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.

Price YoY Trend
up
Market Temperature
neutral
Rent YoY Trend
up
Interest Rate Pressure
elevated

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

  1. $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.

  2. $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.

  3. 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.

  4. 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

8023 Railroad Rd, Indianapolis, IN 46217
Top Sale

Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.

3 beds
2 baths
3,555 sqft
$425,000
Feb 1, 2026
$120/sqft/sqft
182 days on market
403 Southcreek Dr N, Indianapolis, IN 46217
Premium

Sold above market average

3 beds
1 baths
2,107 sqft
$425,000
Feb 1, 2026
$202/sqft/sqft
3335 days on market
369 Rodeo Dr, Indianapolis, IN 46217
Premium

Sold above market average

3 beds
2 baths
1,472 sqft
$425,000
Feb 1, 2026
$289/sqft/sqft
924 days on market
1314 Tommy Lee Ct, Indianapolis, IN 46217
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

3 beds
1 baths
1,196 sqft
$250,000
Feb 1, 2026
$209/sqft/sqft
302 days on market
1362 Bluff View Ct, Indianapolis, IN 46217
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

3 beds
1 baths
1,240 sqft
$245,000
Feb 1, 2026
$198/sqft/sqft
172 days on market
7327 Oak Knoll Dr, Indianapolis, IN 46217
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

2 beds
2 baths
1,299 sqft
$240,000
Feb 1, 2026
$185/sqft/sqft
204 days on market
6407 Bluff Rd, Indianapolis, IN 46217
Value

Sold below market average

3 beds
2 baths
1,304 sqft
$149,900
Feb 1, 2026
$115/sqft/sqft
212 days on market
6406 Saint James Dr, Indianapolis, IN 46217
Value

Sold below market average

2 beds
1 baths
1,878 sqft
$140,000
Feb 1, 2026
$75/sqft/sqft

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.

Analysis Window
90 Days
Total Properties Analyzed
36
Active Listings
4
Sold Properties
32

Market Metrics

Median Listing Price
$169,700
Median Sold Price
$199,900
Median Price per Sqft
$125/sqft

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

Median Market Rent
$1,425

Property Taxes

Property Tax Rate
1.15%

Liquidity & Velocity

Median Days on Market
323
Sale-to-List Ratio
100.0%

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.

Price YoY Trend
up
Market Temperature
neutral
Rent YoY Trend
up
Interest Rate Pressure
elevated

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

  1. 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).

  2. 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.

  3. 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.

  4. 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

7356 Lake Lakota Pl, Indianapolis, IN 46217
Top Sale

Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.

2 beds
1 baths
1,601 sqft
$254,000
Jan 1, 2026
$159/sqft/sqft
150 days on market
2429 Boyer Ln, Indianapolis, IN 46217
Market Benchmark

Sold at market average

3 beds
1 baths
1,926 sqft
$229,900
Nov 1, 2025
$119/sqft/sqft
234 days on market
2511 Big Bear Ln, Indianapolis, IN 46217
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

2 beds
2 baths
1,315 sqft
$225,000
Jan 1, 2026
$171/sqft/sqft
212 days on market
2546 Big Bear Ln, Indianapolis, IN 46217
Market Benchmark

Representative market sale establishing baseline for properties in the core neighborhood.

2 beds
2 baths
1,268 sqft
$215,000
Jan 1, 2026
$170/sqft/sqft
181 days on market
7465 Woodshire Pl, Indianapolis, IN 46217
Value

Sold below market average

3 beds
1 baths
1,176 sqft
$114,435
Nov 1, 2025
$97/sqft/sqft
7465 Woodshire Pl, Indianapolis, IN 46217
Value

Sold below market average

3 beds
1 baths
1,176 sqft
$114,435
Nov 1, 2025
$97/sqft/sqft
7469 Woodshire Pl, Indianapolis, IN 46217
Value

Sold below market average

2 beds
1 baths
1,152 sqft
$105,000
Feb 1, 2026
$91/sqft/sqft
7469 Woodshire Pl, Indianapolis, IN 46217
Value

Sold below market average

2 beds
1 baths
1,152 sqft
$105,000
Feb 1, 2026
$91/sqft/sqft

Investment Analysis

Compare rental income potential against ownership costs and benchmark against market averages.

Rent vs Cost to Own

Monthly rental income vs estimated ownership cost

$211/mo
46217 Avg Rent
46217 Cost to Own
Rent$1,765
Own$1,554

20% down, 6.3% rate, 1.2% tax

Short-Term Rental

Avg nightly rate and occupancy for this ZIP

46217 Avg nightly rate
46217 Avg occupancy (days/year)
Nightly rate$252/night
Occupancy119 of 365 days

Data Sources

Real estate market data & public records, and GemHaus® proprietary models.

Report generated: 5/1/2026

GemHaus

Get personalized market intelligence

Analyze properties in Indianapolis, IN with valuations, rental estimates, highest-and-best-use signals, and operating costs.

Nearby Market Reports