A Tale of Two Markets: Where Demand Is Rising and Where It’s Leveling Off

In September 2025, Central Indiana’s housing market showed steady but varied movement across the region. The median sales price for single-family homes rose 5% year-over-year to $315,100, though slightly down from August, while condos remained mostly flat at $235,000. Twelve of 17 counties, including Hamilton, Hendricks, Johnson, and Marion, saw price gains, reflecting localized shifts in demand. Closed sales dipped 1.6% from last year and 9.6% from August, but pending sales climbed 10.1% year-over-year, signaling continued buyer interest. Homes sold for an average of 97.9% of list price, with days on market up to 21. Active inventory increased 21.5% to 6,176 single-family listings, offering a 2.4-month supply. MIBOR CEO Shelley Specchio noted that fluctuating mortgage rates are driving market activity but emphasized that real estate conditions are increasingly local. Nationally, the NAR reported that existing-home sales were mostly flat month-over-month, with prices up 2% to $422,600, and affordability in the Midwest continuing to attract buyers. See the SEPTEMBER 2025 MARKET REPORT here! — JRL