Indiana Housing Market Mid-Year Snapshot

July 16, 2025, 7:09 a.m. Deep dive

We're six months in.

Here's where the market stands and how it's changed since last year.

Year-to-date sales hit +1% June after four months in the red.
Cumulative Sales Difference, 2025 vs. 2024

Sales Rebounded After a Slow Start to the Year

This line shows how year-to-date home sales compared to last year, month by month. By March, sales were down 3% compared to 2024. But by June, they had fully recovered, landing at +1% YTD.

Sales are Growing in Suburban Counties

Sales were up 6% in suburban counties, while rural and small-city markets saw significant declines.

So far, urban and suburban counties have 625 more sales than last year.
Year-to-date sales growth
Cumulative Listings, 2025 vs. 2024

Listings have been trending above 2024 all year

By June, we had a total of 51,677 listings, 3,000 more than last year. That's 6% more than last year at this time.

Listing growth is fueled by homes above $250K

There are 11% fewer listings under $150K than last year and 13% more listings over $250K. Homes over $750K are coming on the market at a 25% faster pace than 2025.

2,500 listings over $750K, compared to just 2,000 this time last year.
Percent change in listings by price
(YTD 2025 vs. 2024)

Median sale price is up 5%.

So far, half of homes have sold for more than $263,500, and half sold for less.

13,664 homes available on the average day in 2025.

That's 2,500 more than last year (+22%).

Where is the new inventory?

Explore this map to find how much more inventory is available in each ZIP Code compared to the first half of 2024.

How has the market changed?

Time on market, contracts, and offers have changed since last year.

Homes under $350K used to sell much faster than other homes, but the gap has closed.
Days on market by price

Low-priced homes are on the market longer

Last year, homes under $250K sold in less than two weeks. Now they're selling about 50% slower. Mid-priced homes increased from two to three weeks on the market.

Failed contracts are declining compared to last year

The rate is still higher than 2021 and 2022. We estimate failed contracts by adding listings that moved from pending to active or inactive with those that have been pending for a long time based on the probability that they will fail.

13.5% of contracts fail to close – higher than a few years ago but lower than last year.
Estimated Fail Rate for Sales Contracts
$1M+ homes are the only segment getting stronger offers than last year – from 96.2% to 96.8%
Change in offer price ratio compared to last year

Low-priced homes receive less of their asking price 

Homes under $150K fell from about 96% of asking price to just over 94%. Homes from $150K-$250K get better offers—98% on average—but they also lost a full point compared to listing price.

Price categories have geographic implications, too—pricier suburban markets are having a better year than affordable rural markets.
Sales Growth
12-month total, June 2025 vs. June 2024

Sales growth likely fueled by repeat buyers

A softer market for homes under $250,000 and a higher share of sales above $350,000 suggests more repeat buyers.

Sellers still enjoy faster price appreciation than before the pandemic

Sellers are leveraging unprecedented equity and real price gains to move on as buyers with higher budgets (and less sensitivity to mortgage rates). Learn more about price appreciation here.

Sellers in last three months received price gains of 6.3% per year on average
Median price appreciation for sellers

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Curious about the data we used?

Find it for yourself in the year-to-date report, detailed report, and price-breakout report.

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