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While statewide home sales slowed to 6,261 in October, nearly 800 fewer than the previous year, some markets had strong sales in October. To identify ZIP Codes with strong sales performance, we looked for both a high number of sales and high percentage growth compared to October 2022. Nine ZIP Codes had at least 40 sales in October and year-over-year growth of more than 10%. Five of these are in the Indianapolis metro, but Richmond, Kokomo, Fort Wayne, and Bloomington are also represented. We dig into each ZIP Code below.
October sales and year-over-year sales growth by ZIP Code. Use the buttons in the top-right corner to: zoom to bookmarked communities with top-performing ZIP Codes, view the legend, or search for a ZIP Code.
Sales in the MIBOR area were down 16% year-over-year in October, but five of nine ZIP Codes with strong October sales are located here. On Indianapolis' Near Eastside, 46201 encompasses Woodruff Place, Brookside, Little Flower, and Emerson Heights. Sales rose 6% from September to October end 33% higher than last October. Pending sales also rose from September to October, indicating that November could continue the positive year-over-year trend. 46226 is on Indianapolis' northeast side and near Lawrence. October was the third straight month of sales growth in the area. 46237 is within the City of Indianapolis, but in the more suburban area of Franklin Township. While most home sales were under $350K, sales growth was driven by sales over $350K, which increased by 300%, compared to 2022.
The Westfield area ZIP Code 46074 had more October sales than any other, and sales here grew by 15% year-over-year. This was helped by strong growth (73%) in sales between $250K and $349K, well below this area's median sale price of $450K. Sales increased in 46077 (located in Zionsville) from September to October, but days on market, falling sales prices, and slowing pendings all signal this rebound will probably not continue into November. Perhaps most importantly, listings fell by 41% since September, limiting supply and thereby limiting sales.
Kokomo had a strong October overall. 46902, representing the south side, had 2% year-over-year growth, relatively healthy compared to the state. But the north side, 46901, had 46% year-over-year growth on 51 sales. Sales actually rose slightly between September and October, putting this year well ahead of last year, when sales dropped by 22% between September and October. October's median sale price of $142,100, while much lower than the state, is 29% year-over-year.
Forty-one sales in Richmond (47374) led to 17% year-over-year growth. This is not entirely new for Richmond, where the 3-month rolling sales total kept pace with 2022 through the spring and early summer. Prices have been growing at a healthy clip, with the 3-month rolling average increasing by more than $20,000 (or 16%) year-over-year. With recent price drops at 8.5%, lower than the state's average, it seems that sellers are listing at competitive prices. But with homes here selling quickly, keeping
Richmond's 3-month rolling sales total beat 2022 from April through August. View this chart.
Sales slowed on the north side of Bloomington, but the south side beat October 2022 sales. Sales increased 5% year-over-year in 47403, and 47401 was one of the top performing ZIP Codes in the state, with sales increasing more than 20%. While prices have cooled since their peak in June, the median sales price of $322,000 is up 19% year-over-year. Home sales between $350K and $499K more than doubled year-over-year, while sales under $250K fell by 17%.
After a slow summer, sales rose 37% from September to October in 46835. This ZIP Code, on Fort Wayne's northeast side, contains older subdivisions like Parkview Addition and Brookside Estates, but also newer developments near Cherry Hill Golf Club and Interstate 469. Sellers have listed more homes in the last two months than in the same period last year, and half of those were under contract in only six days in October. Compared to the state, homes are selling at a faster pace and at a sales price closer to their asking price.