Indianapolis, IN 46229 Real Estate Market Report

ZIP Code: 46229
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

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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 are 6.4%, reflecting a stable market environment for property owners in this area compared to the 6.56% average 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 primary indicator of recent market value is the median sold price 210,000, which, together with a price year-over-year trend that is up, suggests modest appreciation in completed transactions despite mixed signals in listing behavior.

2. There is a modest disconnect between the median listing price 200,000 and the median sold price 210,000, which may indicate either sellers listing below recent accepted offers or buyers still securing transactions above asking in selectively competitive cases.

3. Median days on market 309 is materially long and signals slower sales velocity; this extended time-to-contract may reflect increased buyer negotiation leverage and pricing friction rather than broad market weakness (elevated interest rate pressure is also present).

4. Rental markets show a median market rent of 1,600 with rent year-over-year trend up; combined with a 30-year mortgage environment around 6.4% and elevated interest rate pressure, investors and owner-occupiers should expect tighter affordability and must underwrite with rate sensitivity in mind.

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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.

Indianapolis, IN 46229 Real Estate Market Report

ZIP Code: 46229
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.

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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 are 6.4%, reflecting a stable market environment for property owners in this area compared to the 6.56% average 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 primary market indicator is the median sold price of 129,000, which reflects realized transaction values and suggests modest price appreciation in the area given the broader price year-over-year trend is up.

2. Liquidity appears muted: the median days on market of 330 points to slower sales velocity and suggests sellers may need longer marketing windows or more competitive pricing to transact quickly.

3. Pricing quality is mixed: the median price per square foot of 148 combined with a median market rent of 1,295 implies price levels that may still attract investors or owner-occupants, but prospective buyers appear to have increasing negotiation leverage on non-premium listings.

4. Financing and market context: interest rate pressure is elevated, and current local 30-year fixed mortgage rates around 6.4% (versus 6.56% earlier in 2026) may constrain some buyer budgets and support cautious seller expectations; consider structuring offers and pricing with rate sensitivity in mind.

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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.