Homes in Indiana sold 17.6% faster year-over-year in the week ending Nov. 29, with the number of homes absorbed increasing from 1,514 to 1,780. Nearly half of active listings (47.7%) included price reductions across the state’s tracked metro lines, creating favorable conditions for buyers entering the traditionally slower holiday season.
The increase in buyer activity came as average list prices reached $293,900, down 0.3% from $294,900 a year earlier. Homes spent an average of 49 days on the market, unchanged from last year, but well below the national average of 70 days. The state maintained slightly favorable sales conditions with an offer of 1.8 months.
Inventory and pacing
The active supply increased to 13,651 homes, an increase of 17.6% compared to 11,604 a year ago. New listings for the week totaled 1,314 properties, while 1,780 homes were under contract or sold. The absorption rate exceeded new inventory by 35.4%, indicating strong buyer demand despite the holiday season.
Price cuts played a key role in market speed. With 47.7% of active listings showing discounts, sellers adjusted expectations to meet buyer demand. Only 1.1% of listings saw price increases, while 5.4% were relisted properties.
Prices
Indiana’s average list price of $293,900 was 31.5% below the national average of $428,900. The price per square foot reached $157, compared to $214 nationally. The modest price decline of 0.3% year-on-year reflected a balance between buyer demand and available inventory.
How it compares
Homes in Indiana moved 21 days faster than the national average of 70 days on the market. The state’s 1.8-month supply fell below the national average of 1.9 months, indicating tighter inventory conditions. While national markets showed signs of cooling, Indiana maintained momentum through aggressive pricing strategies.
How subways compare
Indianapolis led the state with 53.4% of price reduction listings, compared to 43.9% in Bloomington. Days on market ranged from 49 in Fort Wayne to 84 in Bloomington, above the national pace. Indianapolis split the difference at 56 days, with the highest percentage of homes showing reduced prices.
What to watch
Stay tuned to see if December’s 47.7% price cut holds or moves higher as sellers compete for holiday buyers. Track whether absorbed listings maintain their 17.6% annualized growth rate. Keep an eye on inventory levels to see if the 17.6% annual increase continues to trend toward more balanced conditions.
For a more detailed analysis of Indiana’s housing markets, HousingWire Pro members can access metro-level reports with neighborhood breakdowns and historical trends. Generate custom reports for your specific market area to identify emerging opportunities.
HousingWire used HW Data to uncover this story. Generate housing market reports to see what’s happening in your own local market. For enterprise customers looking to license the same market data on a larger scale, visit HW Data.
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