Indiana's real estate market continues seasonal growth; supply of homes for sale rises with 9,700 new April listings

INDIANAPOLIS, May 12, 2025 /PRNewswire/ -- Indiana home sales grew 12% from March to April to 6,924, falling just twelve closings (-0%) behind April 2024 while new pending sales (7,937) finished 5% ahead of last year, according to the Indiana Association of REALTORS® (IAR). Homes sold for a statewide median price of $263,000 in April, up 5% year-over-year.

More homes for sale and mortgage rates remaining consistently below 2024 since the end of February have drawn more buyers into the market, according to IAR's 2025 president Kim Ward, managing broker of North Eastern Group Realty (Fort Wayne).

"Even though home values continue to rise, lower rates mean a homebuyer's monthly payment will be virtually the same as if they would have bought a median-priced home last spring," said Ward. "Plus, today's buyers have more options to choose from across every budget level."

9,732 homes were newly listed in April, 10% ahead of 2024; new listings are now up 5% year-to-date. The total statewide supply of available homes also increased slightly from March to April to hit 12,951 homes for sale on an average day last month, 23% higher than 2024.

The median number of days from listing to pending sale fell from fourteen in March to thirteen in April, though higher supply meant a slower pace than 2024 (ten days last April). The extra time didn't sway bargaining position, as sellers claimed 96.4% of their original list price, consistent with April '24 (96.7%).

Sellers also continue to benefit from rising property values: Median real price appreciation, calculated by examining the sale prices of homes that have changed hands multiple times over the past twenty years, stands at 6.7% annual growth realized by recent sellers.

"If you sold a home in Indiana over the past three months, you're most likely to have purchased it around 2018 or 2019 and seen its' value increase 50% or more while you lived there," Ward said. "That's roughly $100,000 in equity gained for the 'median' home seller.

"And homeowners in many communities across Central Indiana, Fort Wayne and South Bend, and smaller cities like Madison and Marion have gained equity even faster," she added. "Homeowners looking to make a move this summer have a market that will reward their investment – they should consult a professional to make the most of it."

SOURCE Indiana Association of REALTORS