Indianapolis Indiana Real Estate
One of the good news is that we have seen the rise in home prices, according to the latest data from the National Association of Realtors (NAR). Indianapolis home prices increased 63.0% in the first quarter of 2016 compared to the same period last year. This represents an increase of around 0.81%, which corresponds to an annual rate of 3.3%.
If our price forecast is correct, Indianapolis homes will be higher in the third quarter of 2018 than in any of the previous three quarters. Here is the NAR forecast for Indianapolis home prices for the next three years, ending in the second quarter of 2021 and then three months after.
See why Indianapolis is a hot housing market and why it could be your home or next rental property. Although this article alone is not the final investment decision you make in Indianapolis, we have collected some positive things based on evidence for investors interested in buying an investment property in Indy. We discuss some of the key factors in the Indianapolis real estate market that will help you understand the current state of Indianapolis and the potential for future growth and investment opportunities.
Get all the relevant information about Indianapolis real estate, including property descriptions, photos, demographics and statistics. You can also use our map view to find homes and apartments based on amenities in Indianapolis that you might want to close. If you want to work with a professional, it is very easy to contact an Indy real estate agent. Talk to a Tucker's agent to learn more about the homes being sold in the city and learn more about your community.
All you need to do is look at the details of your preferred property listings and use the form there. So whether you're looking for an overview of your area or more information about a particular property, we're always up to date with information about the Indianapolis real estate market.
Indianapolis is located halfway between Chicago and Columbus and is home to the Indianapolis Colts, Indiana State University and the University of Indianapolis. Indianapolis is the second largest city in the United States with more than 1.5 million inhabitants.
The population of the 11-county Indianapolis region will grow by 26% over the next decade. The median list price for a home in Indianapolis is $189.9 K, an increase of 10.1% year-over-year. In 2014, the list price to sales ratio was 98.6, meaning that single-family homes in Indy sold on average about half the full offer price.
In the Indianapolis real estate market, it is still possible to purchase a turnkey cash flow property that is 10% below market value, meaning you can get a good return on your investment. According to HousingWire, Indianapolis is a great place where rental property investors can invest a little less money but still get a comfortable return. In fact, the Indy housing market has developed in recent years, largely because of the low interest rate environment.
Among the most affordable areas for renters in Indianapolis are Martindale and Brightwood, where the median list price for a home is $55,000. The most expensive neighborhood for Indy tenants is Broad Street, where rents can reach $2,600 a month. One of the most popular residential areas where renters can buy apartments is Meadows, where the average rent is $800 a month or less, according to HousingWire.
The median price of a single-family home in Indianapolis is $106, about $1,000 less than the median price of a single-family home in the city. The median price for a one-bedroom apartment in one of the most expensive neighborhoods in the country is nearly $2,500 more than in other parts of Indianapolis, according to HousingWire.
The median price for all types of property listed in the MLS in Indianapolis is $175,000, an increase of $5 from April 2020.
Let's look at some of the factors that drive the market both in the short and long term, and what could be the most important factors in the Indianapolis real estate market in the next few years.
Consider the price trend recorded by Zillow, a real estate database company, in recent years. The Indianapolis housing market is currently a seller's market, meaning there are more active homes for sale than active homes. Experienced real estate investors in Indianapolis have researched housing affordability to predict long-term trends in the Indianapolis real estate market for the next few months and years, as well as the future.
In Indianapolis, the postcode with the highest foreclosure rate is Indianapolis, where 1,5397 residential units are being foreclosed. In Indianapolis, the percentage of foreclosure delinquents for a mortgage in Indianapolis is 1.6%, above the national average of 0.5% and the second highest nationwide.
The median value of a home in Indianapolis (Zillow) is $153,159, and, based on the latest data from the National Association of Realtors (NAR), the median price of a single-family home in the city of Indianapolis in 2016 was $224,900, compared with $215,000 in 2015 and $217,500 in 2014. The median rent in Indiana is currently $1,283 a month, 3.5% lower than last year and 2.7% higher than the national average, according to the US Department of Housing and Urban Development (HUD), which is based on the latest data from the American Community Survey (ACS) for the first quarter of 2016.