Indiana Real Estate Market May 2022: Forecasts + Trends

Indiana real estate trends (May 2022)

How is the real estate market in Indiana?
🏠 Average home value: $222,592	📈 0.70% home value increase month over month
💰 Median sale price: $233,900	⏳ 38 days on the market
🔑 Homes on the market: 8,326	📆 1.7 months of housing inventory
🏦 30-year mortgage rate: 5.54000%	💵 Average income: #N/A
State of the market: B-
Home values in Indiana continue to creep up, and sales are going by relatively quickly. However, the surge in inventory may be a sign that the market is cooling down.
_{Data last updated May 2022}*

When it comes to sports, Indiana is legendary.

Not only was the Hoosier state home to basketball legends including Louie Dampier and Larry Bird, but the nation's first professional baseball game took place in Fort Wayne. The state capital is also home to the thrilling Indianapolis 500, where drivers speed around the track at over 200 miles per hour.

But Indiana has plenty to offer non-sports fans, too, from its thriving agriculture to its powerful automotive industry. Its biggest cities include Indianapolis, Fort Wayne, and Evansville, among others.

If you're thinking of buying or selling in Indiana, these Indiana housing predictions and stats can help you make an informed decision.

Want to save money when you buy or sell your home? With Clever, you'll only pay 1.5% or $3K in listing fees. Eligible buyers get cash back after closing. Find out how much you can save with Clever today!

Selling a home in Indiana

Indiana real estate market forecast for sellers
⏰ Homes are selling 25 days slower than the annual average	💰 Homes are selling for $19,223 more than the annual average
💸 Average listing commission: 2.96%	💸 Average buyer's commission: 2.70%

How to sell a home in Indiana

Cost to sell a home in Indiana

Buying a home in Indiana

How much home you can buy with $300,000 in...
🏠 Indianapolis: 2,055 sq ft	🏡 Evansville: 2,222 sq ft
🏡 Fort Wayne: 1,796 sq ft	🏠 South Bend: 1,935 sq ft

Investing in Indiana real estate

Best of Indiana

💡 Did you know…

On average, concert tickets for Indianapolis venues are cheaper than tickets in 94% of major cities nationwide.

» Taking notes? 🎵 Learn more about the rankings here: The Best Music Cities in the U.S.

Each month, we compare locations in Indiana based on different criteria. This month, we're looking at levels of happiness and ranking the best counties in the state.

Happiest Counties in Indiana
1. Hamilton County
2. Clark County
3. Brown County
4. Boone County
5. Porter County

Ready to buy a home in Indiana? Eligible buyers get cash back with Clever!

Worst of Indiana

Each month, we compare locations in Indiana based on a different criteria. This month we're looking at levels of happiness data. These are the counties that ranked the worst in the state.

Least Happy Counties in Indiana
1. Vigo County
2. Miami County
3. Delaware County
4. Blackford County
5. Switzerland County

Indiana resources

Frequently asked questions about Indiana real estate

It is currently a seller’s market in Indiana — are selling quickly and for more than their estimated value. However, each city and town is different, so it’s better to consult with a local real estate agent to understand the particular trends in your area.

Investing in Indiana real estate is a great idea, especially in cities like Indianapolis or Fort Wayne, where there’s always a demand for housing. However, maximizing your investment requires an in-depth knowledge of the market, like which neighborhoods to buy in and what kind of properties to purchase. Read our guide to real estate investing to learn more.

While it is a seller’s market in Indiana, the market is cooling. Listing prices are starting to drop and inventory is building up, giving buyers more choices and more room to negotiate. To top it off, mortgage rates in the state are lower than average, which provides an opportunity to save even more money in the long run. Work with a top real estate agent in your area to help you find the best time to buy a house in Indiana.

Methodology

Clever's analysis of state market trends is based on local data from Zillow, realtor.com, Redfin, Bankrate, the U.S. Census, and Clever surveys. Our team of over 20 real estate analysts from across the country research local markets and data to compile our "Best" and "Worst" rankings.

Indiana Real Estate Market in 2022: Forecasts + Trends