In August, home prices fell moderately from the month before, with a median listing price of $269,900.
The number of listings on the market grew 3.5% from last month, which is a smaller increase than normal for this time of the year in Indianapolis, and homes are also selling slower than at the same time last year.
Home prices in Indianapolis
Typically, home price per square foot in Indianapolis tend to fall in August. And the most recent data shows that the price per square foot decreased by 0.5% compared with the month before.
So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 1.2%, which means price changes in Indy are smaller the national market.
Indianapolis inventory
In August, there were 2,523 homes for sale in Indianapolis, which was 3.5% more than the month before and 21.0% more than the same time last year.
Meanwhile, active inventory across the nation fell by 0.4% from last month to 1,098,681.
The number of new listings in Indianapolis was 1,316, which was 1.5% more than the month before and 1.2% more than the same time last year.
Nationally, the number of new listings fell by 7.5% from last month to 402,268.
Time on market
Homes in Indianapolis take an average of 50 days to sell, according to August figures.
This is three days more than the previous month and six days more than the same month last year.
For comparison, nationally homes spent an average of 60 days on the market in August.
Use the Realtor.com data portal to get more market data, broken down by state, metro or ZIP code.
* Here’s a live look at popular listings and recent home sales in Indianapolis, IN.