Indianapolis, IN 46221 Real Estate Market Report

ZIP Code: 46221
Report Date: March 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of March 2026, the real estate market in Indianapolis, IN (ZIP: 46221) is characterized by a median sold price of $190,000, reflecting the actual transaction values in the area. This figure suggests a stable market condition, although the neighborhood has not shown any historical sold price change percentage, indicating a lack of significant price movement over time. The current median listing price stands at $220,000, which reveals a notable gap between listing expectations and actual sold prices, potentially leading to pricing friction for sellers in the market.

Transaction activity appears to be moderate, with median days on market reaching 279 days, indicating a slower sales velocity. The market is experiencing elevated inventory levels, suggesting excess supply relative to sales activity. This environment may indicate a shift toward a more balanced market, although the overall economic fundamentals remain positive due to ongoing job growth, supporting underlying housing demand.

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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.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Indianapolis, IN at 6.65% are 0.16% lower than the average origination rate of 6.81% seen earlier in 2026.

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 $190,000 suggests a stable market, despite a significant gap with the median listing price of $220,000.

2. With median days on market at 279, the market is experiencing slower sales velocity, indicating potential challenges for sellers.

3. Elevated inventory levels suggest excess supply relative to sales activity, which may lead to pricing friction in the market.

4. The market temperature is currently neutral, indicating a balanced environment without strong buyer or seller advantages.

5. Ongoing job growth in the area supports underlying housing demand, providing a positive economic backdrop despite current market conditions.

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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.