Is Indianapolis, IN 46240 a buyer’s or seller’s market?

The Indianapolis housing market right now

In the three months ending August 31, 2026, 23% of homes in Indianapolis, IN 46240 sold above their list price, the typical home went under contract in 20 days and there were 1.8 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 80 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 19%, homes sold more slowly (18 days then) and the median sale price rose 3% to $407,824. Overall, Indianapolis is more competitive than a year ago, so tougher for buyers.

Within Marion County, homes here sell faster than in 58% of the county’s ZIP codes, and sell more often over asking than in 91%. On our competition score, Indianapolis ranks #92 of 306 IN ZIP codes with enough sales (score 61 out of 100).

Nearby, buyers who want less competition could look at Indianapolis 46204 (4% sold over asking) or Indianapolis 46202 (8% sold over asking), while Indianapolis 46220 (32% sold over asking) and Indianapolis 46278 (30% sold over asking) are even more competitive.