Indianapolis, IN 46237 Real Estate Market Report
ZIP Code: 46237
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 indicator of recent transaction value is the median sold price, 240,000, which sits well below the median listing price of 324,900 and suggests a pricing gap between asking and realized sale levels that sellers should address when setting expectations.
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The market shows a prolonged selling cadence with a median days on market of 265, which indicates slower sales velocity and suggests buyers have time to negotiate while sellers may need to consider pricing or marketing adjustments to improve liquidity.
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Price momentum is positive with a price year-over-year trend of up, while the broader market temperature is neutral, pointing to up pricing pressure but overall balanced transaction conditions rather than a strongly one-sided market.
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Rents are moving lower with a rent year-over-year trend of down while median market rent remains 1,795; combined with interest rate pressure described as elevated, this suggests affordability dynamics are mixed and may temper buyer participation despite improving purchase price trends (elevated interest rate pressure).
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 at 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 46237 Real Estate Market Report
ZIP Code: 46237
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
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The neighborhood's primary market indicator is the $178,500 median sold price, representing recent transaction activity and anchoring market value for SFR and condo product in this ZIP code.
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There is a meaningful gap between the $219,900 median listing price and the $178,500 median sold price, which may indicate pricing friction and seller expectations that exceed realized transaction levels; market participants should price competitively to avoid extended market exposure. pricing friction
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Extended selling timelines are evident with a 391 median days on market, which suggests slower sales velocity and that liquidity may be limited despite the relatively constrained active supply in the analyzed sample; sellers should account for longer holding periods and buyers may have more negotiation leverage.
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Market context shows price momentum but headwinds: the price year-over-year trend is up while rent year-over-year trend is down and interest rate pressure is elevated; this combination suggests careful underwriting is needed for buy-and-hold strategies and that near-term transactional activity may be sensitive to financing costs. up elevated
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 below 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 at 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, 1.0% 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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