Indianapolis, IN 46237 Real Estate Market Report

ZIP Code: 46237
Report Date: February 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of February 2026, the real estate market in Indianapolis, IN (ZIP: 46237) is characterized by a median sold price of $259,900, reflecting a stable market environment. The neighborhood has increased up since 2023, indicating a positive trend in property values. Despite this upward trajectory, the market is experiencing elevated inventory levels, suggesting a shift towards a more balanced state following a period of heightened demand. The median days on market stands at 179, indicating a slower sales velocity, which may suggest that buyers are exercising more caution in their purchasing decisions.

The median listing price is notably higher at $292,400, creating a pricing gap that may reflect seller expectations versus current market realities. This disparity, combined with a median market rent of $1,500, suggests that while demand remains, affordability may be a growing concern for potential buyers. Overall, the market temperature is described as neutral, indicating a balance between buyer and seller dynamics, yet the moderate interest rate pressure may influence future market activity.

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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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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 the Indianapolis market around 6.13% to 6.85% are notably lower than the 7% rates 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 $259,900 indicates a stable market with positive price trends.

2. With a median days on market of 179, the market is experiencing slower sales velocity, suggesting buyers may be more selective.

3. The median listing price of $292,400 reflects a significant gap compared to sold prices, indicating potential pricing friction for sellers.

4. The median market rent of $1,500 continues to rise, suggesting ongoing demand for rental properties in the area.

5. Market temperature remains neutral, indicating balanced conditions between buyers and sellers despite elevated inventory levels.

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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.