Snapshot of key housing metrics in Indianapolis
March housing data for Indianapolis was released by Realtor.com and is available on Circle City Data’s Chart Book product.
This month, the story is clear: days on market are up 15% year-over-year, and active listings are up 27% and climbing back toward pre-pandemic levels.
Housing inventory has been making a steady climb in Indy since 2022, when low pandemic-era interest rates drove would-be sellers to stay in their current homes as interest rates for a new purchase rose sharply. The 10 yr Treasury yield, which has historically had a strong correlation with the 30 year mortgage, has dipped since it’s late 2023 highs. As mortgage rates fall, it makes buying a home more attractive to those fortunate enough to get a low interest rate during COVID.
Indy’s housing inventory is quickly outpacing the same measure of inventory for the entire US, according to Realtor.com (via FRED). Inventory across the US was measured at 964k in March 2026, up from 893k YoY (8% increase).
As the number of listings rise, median list price remains relatively flat. More inventory results in more supply, which can contribute to decreases in list prices.
Median days on market is also up significantly YoY, which could contribute to lower list prices as sellers try to avoid their house sitting on the market too long at an elevated price.
All of these metrics play a part in the larger market dynamic and are best analyzed together. The next scheduled release of Indy housing data is April 30th, and you can generally expect a release in Chart Book around the 1st of every month.