Indianapolis, IN 46229 Real Estate Market Report

ZIP Code: 46229
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: 46229) is currently $225,000, reflecting a challenging market environment as prices have decreased 8% since 2022. This decline in median sold price suggests a shift in buyer sentiment and market dynamics, particularly as elevated interest rates continue to pressure affordability. Despite this, the median listing price stands at $233,750, indicating a notable gap between seller expectations and market realities, which may contribute to slower sales activity.

Market conditions are characterized by elevated inventory levels, with a significant number of properties available relative to the volume of sales. The median days on market is 220 days, indicating a slower sales velocity and potential pricing friction. This prolonged market presence of listings may suggest that buyers are exercising caution, leading to a more balanced market temperature, though it remains neutral overall. As we move forward, the combination of rising inventory and declining sold prices may necessitate adjustments in pricing strategies for sellers.

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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, around 5.875% are slightly lower than the 6.00% average observed for 2026 originations in the area.

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 $225,000 indicates a declining market trend, with prices down 8% since 2022.

2. Elevated inventory levels suggest excess supply relative to sales activity, impacting overall market liquidity.

3. With a median days on market of 220 days, the market is experiencing slower sales velocity, which may affect buyer engagement.

4. The median listing price of $233,750 reflects a significant gap compared to the sold price, indicating potential pricing friction for sellers.

5. Despite the challenges, the median market rent is $1,397, which has shown an upward trend, suggesting a resilient rental market.

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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.