Indianapolis, IN 46221 Real Estate Market Report

ZIP Code: 46221
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: 46221) stands at $215,000, reflecting a stable market despite elevated interest rate pressure. The neighborhood has experienced a year-over-year price trend that is up, suggesting a positive outlook for homeowners and potential sellers. With a median listing price of $230,000, there appears to be a notable pricing gap between what sellers are asking and what buyers are willing to pay, indicating potential pricing friction in negotiations.

Market activity shows a median of 201 days on market, which points to a slower sales velocity, suggesting that buyers may be taking their time in making purchasing decisions. The current inventory conditions reflect elevated inventory levels, contributing to a competitive environment for buyers. This dynamic, coupled with job growth in the area, supports housing stability, even as interest rates remain elevated.

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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 Indianapolis, IN at 5.75% are 0.42% lower than the February 2026 national average of 6.17%, presenting a cost opportunity for new financing.

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 $215,000 indicates a stable market despite elevated interest rate pressure.

2. With a median listing price of $230,000, there is a significant pricing gap that may create friction in negotiations.

3. The median days on market of 201 suggests a slower sales velocity, indicating that buyers are taking longer to make decisions.

4. The year-over-year price trend is up, reflecting a positive trajectory for property values in the area.

5. Current market conditions show elevated inventory levels, which may lead to moderate competition among buyers.

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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.