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Hoosiers closed on 5,870 homes in November, 8% fewer than November 2022. But in these 10 ZIP Codes, sales growth was strong. Most of this month's standout ZIP Codes are in the Indianapolis region, but there are a few from northern and southern Indiana.
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.
In Whitestown, 46075 had 50 sales, 233% growth year-over-year. Last month, the neighboring ZIP Code in Zionsville also had strong positive growth. Counter to most of the state, Whitestown has has positive year-over-year sales numbers for seven straight months. Listings have been higher than last year in five of those seven months, and in a market where supply is so tight, new listings can generate strong sales growth. New listings are snapped up quickly here (8 days from listing to pending).
On the Westside, 46234 had 33 sales (year-over-year growth of 57%). Located between Brownsburg and Eagle Creek Reservoir, this area had a sudden increase in sales and median price in November. But with listings falling by half and pending sales falling by one third month-over-month, don't expect sales growth to continue here.
Sales in ZIP Code containing Danville (46122) in Indianapolis' western suburbs grew 40% year-over-over on 35 closings. Sales here have outpaced 2022 in five of the last six months, possibly driven by relatively high inventory (+76% year-over-year in November).
On the Northside, 46260 (Meridian Hills, Greenbriar) had 36 sales, 64% growth from last November. After summer slump 50% lower than 2022, sales surged in October and November. Pending sales have fallen slightly from October to November, but are still up 17% year-over-year, so sales here could remain strong through December.
Nearby, 46226 (Lawrence and Northwest Indianapolis) had another strong month after making our list of October standout ZIP Codes. The 43 closings here were 34% more than last year. With affordable housing stock (92% of November listings were under $250,000), sales growth has been strongest at lower price points. Sales between $150,000 and $249,999 doubled compared to last November.
Greenfield (46140) had 46 sales and year-over-year growth of 21%. This may have been driven by a surge of listings and pending sales in October. With both factors receding in November, expect December sales to be lower than 2022.
LaPorte (46350) had 41% growth on 55 sales. Sales surged 72% higher compared to October, which cause inventory to fall 17%. Homes came under contract quickly in October, remaining active just over a week. This all reversed in November, however. With less supply, pending sales dropped 40% month-over-month. Days on market increased to 15, more typical compared to the rest of the state.
Forty-six closings in Michigan City (46360) was a 21% increase over last November. That is the third straight month of year-over-year sales growth for this ZIP Code. There were few pending sales in November, so the year-over-year growth is not likely to continue in November. However, listings jumped 18% from October to November, and with fewer properties going under contract, inventory rose 36%. These could be good signs for strong sales to start 2024, as buyers can choose from the most active listings in three years.
Northwest of South Bend, 46628 had 34 closings and grew by 48% from last year. Rather than the typical seasonal pattern fo declining sales into the fall and winter, this area has seen month-over-month sales growth since September, potentially driven by an increase in listings that began in August. Listings and pending sales both declined in November, so sales here should cool in December.
In the suburbs of Louisville, 47130 (Jeffersonville) had 66 sales and 20% year-over-year growth. Inventory grew by 12% from October and is higher than any time since November 2019. This could have helped temper a steeper fall slowdown. Prices increased here as well. Median sale price reached a new record of $269,950.