Indianapolis, IN 46227 Real Estate Market Report
ZIP Code: 46227
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.
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.
Rental Market
Property Taxes
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.
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.
Key Findings
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The primary market indicator, median sold price: $225,000, shows the price level at which recent transactions cleared and should be treated as the most reliable signal of market value for SFR and condo inventory in 46227; given the data, this represents the neighbourhood's realized pricing in current trades.
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There is a notable spread between median listing price: $269,900 and the median sold price, which suggests pricing friction between seller expectations and transaction outcomes and may indicate sellers should price more competitively to achieve timely sales.
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Liquidity appears subdued: the median days on market: 246 signals slower sales velocity and longer time to close transactions, which, combined with elevated inventory relative to sales activity, suggests sellers may face extended listing periods and should plan for holding costs.
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Market fundamentals are mixed but not extreme: the price year-over-year trend: up and rent year-over-year trend: up point to upward pressure on both values and rental demand, while the market temperature: neutral and interest rate pressure: moderate counsel caution—investors and sellers should prioritize realistic pricing and underwriting stress tests.
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
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold below market average
Sold below market average
Indianapolis, IN 46227 Real Estate Market Report
ZIP Code: 46227
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.
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.
Rental Market
Property Taxes
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.
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.
Key Findings
-
The primary indicator, the median sold price, is $125,000, which represents the most reliable measure of realized market value in 46227; with the price year-over-year trend up, this points to modest appreciation in recent transactions.
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The gap between the median listing price $109,900 and the median sold price $125,000 suggests pricing friction between asking and realized prices and may indicate sellers achieved higher-than-asking outcomes in recent sales.
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Median days on market is 391, signaling notably slower sales velocity and relatively constrained active supply; this extended market exposure may require targeted pricing or marketing adjustments to improve liquidity.
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Median market rent is $1,395 and median price per square foot is $107; with rent year-over-year trend up, the rental side shows strengthening demand while the market temperature remains neutral and interest rate pressure is moderate, suggesting cautious investor interest rather than aggressive speculative activity.
Notable Properties
The following 7 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
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold below market average
Sold below market average
Sold below market average
Sold below market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.5% rate, 1.1% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 5/1/2026
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