Indianapolis, IN 46220 Real Estate Market Report

ZIP Code: 46220
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The Indianapolis, IN (ZIP: 46220) market is characterized by a median sold price of $349,900, reflecting the actual transaction activity in the area. This figure suggests a competitive environment despite the broader metro area experiencing softening metrics. The median listing price stands at $364,900, indicating a notable gap between seller expectations and market realities, which may create pricing friction for potential buyers.

Transaction activity appears moderate, with median days on market at 161, suggesting a slower sales velocity and possibly indicating a need for sellers to adjust their pricing strategies. Overall, the market is exhibiting elevated inventory levels, which may lead to a more balanced market dynamic as supply increases relative to sales activity. The median price per square foot is $234.64, further illustrating the current pricing landscape in this competitive market.

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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 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 notably lower than the 7.07% average seen one year ago, presenting a favorable refinancing environment for property owners.

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 $349,900 indicates a competitive market despite broader softening trends.

2. With a median listing price of $364,900, there is a significant gap that may create pricing friction for buyers.

3. A median days on market of 161 suggests a slower sales velocity, indicating potential adjustments needed in pricing strategies.

4. The median price per square foot is $234.64, reflecting the current pricing landscape and competitive nature of the market.

5. Overall, elevated inventory levels suggest a move towards a more balanced market dynamic as supply increases relative to sales activity.

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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.