Indianapolis, IN 46239 Real Estate Market Report

ZIP Code: 46239
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

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, IN are 6.38% compared to the 5.88% average when typical loans in this area originated in early 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. 274,900 as the median sold price is the primary indicator of recent market value and transaction activity in 46239; with a notable gap versus the median listing price of 313,450, this suggests pricing friction where seller expectations may exceed recent realized values (conditioning downward pressure), and slower sales velocity appears consistent with a median days on market of 258.

2. The market shows modest appreciation on transaction prices—price trends are up—while the overall market temperature is neutral, indicating a balanced market rather than a sharply one-sided buyer’s or seller’s market; expect negotiated outcomes rather than consistent over-asking sales.

3. Rental fundamentals are strengthening: the median market rent is 1,940 and rent year-over-year trends are up, which may support investor interest in SFR and condominium buy-and-hold strategies despite slower sales velocity.

4. Interest rate pressure is assessed as moderate and local mortgage comparison shows current 30-year rates at 6.38% versus a recent origin average of 5.88%, a spread that may constrain buying power and contribute to extended median days on market and a cautious seller pricing approach.

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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.