Indianapolis, IN 46221 Real Estate Market Report

ZIP Code: 46221
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.

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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

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.

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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.

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Key Findings

1. 214,000 is the median sold price and should be treated as the primary indicator of recent market value and transaction activity in 46221; there is a notable gap between the median listing price (182,450) and the median sold price (214,000), which may indicate pricing friction between seller expectations and closed-market values.

2. 302 median days on market signals slower sales velocity than typical market turnover and suggests moderate transaction volume—this extended market time may give buyers additional negotiation leverage despite stable pricing trends.

3. price year-over-year trend: up combined with a neutral market temperature supports a stabilizing market: prices are appreciating while overall balance remains, implying gradual value growth rather than a heated market.

4. interest rate pressure: elevated and rent year-over-year trend: up together indicate elevated financing costs even as rental demand strengthens; elevated interest rate pressure may constrain some buyers, while rising rents support investor interest in SFR and condo cash-flow potential.

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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.