Indianapolis, IN 46241 Real Estate Market Report

ZIP Code: 46241
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: 46241) stands at $172,000, reflecting a stable market despite the presence of elevated inventory levels. The neighborhood has increased up since 2023, indicating a positive trend in property values. However, the market is experiencing a slower sales velocity, with properties averaging 189 days on market. This extended timeframe suggests a potential pricing friction as sellers adjust expectations in response to current market dynamics.

While the median listing price is $173,000, the proximity of this figure to the median sold price indicates a relatively balanced market. The current market temperature is classified as neutral, suggesting that while demand remains, the elevated inventory levels may temper price appreciation. Additionally, the median price per square foot is reported at $152.17, which, while stable, shows signs of softening compared to previous metrics. Overall, the market is transitioning towards a more balanced state, with robust rental demand contrasting against stabilizing mortgage rates.

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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 near 5.875% in Indianapolis, IN 46241 are significantly lower than the 2026 average of 6.63% seen earlier this year.

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 is $172,000, indicating a stable market with positive year-over-year trends.

2. Properties are taking an average of 189 days on market, suggesting a slower sales velocity and potential pricing friction.

3. The median listing price of $173,000 is closely aligned with the sold price, reflecting a balanced market condition.

4. The median price per square foot is $152.17, which may indicate softening price trends in the area.

5. Rental demand remains strong with a median market rent of $1,397, supporting ongoing interest in the 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.