Indiana homes sold 17.6% faster year-over-year in the week ending Nov. 29, with absorbed listings jumping to 1,780 from 1,514. Nearly half of active listings (47.7%) featured price reductions across the state’s tracked metros, creating favorable conditions for buyers entering the traditionally slower holiday season.
The surge in buyer activity came as median list prices reached $293,900, down 0.3% from $294,900 a year earlier. Homes spent a median 49 days on market, unchanged from last year but well below the national median of 70 days. The state maintained slight seller-favorable conditions with 1.8 months of supply.
Inventory and pace
Active listings climbed to 13,651 homes, up 17.6% from 11,604 a year ago. New listings for the week totaled 1,314 properties while 1,780 homes went under contract or sold. The absorption rate outpaced new inventory by 35.4%, indicating strong buyer demand despite the holiday timing.
Price reductions played a key role in market velocity. With 47.7% of active listings featuring cuts, sellers adjusted expectations to meet buyer demand. Only 1.1% of listings saw price increases, while 5.4% were relisted properties.
Pricing
Indiana’s median list price of $293,900 sat 31.5% below the national median of $428,900. Price per square foot reached $157, compared with $214 nationally. The modest 0.3% year-over-year price decline reflected balanced conditions between buyer demand and available inventory.
How it compares
Indiana homes moved 21 days faster than the national median of 70 days on market. The state’s 1.8 months of 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 metros compare
Indianapolis led the state with 53.4% of listings featuring price cuts, compared with 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
Monitor whether the 47.7% price-cut rate sustains through December or climbs higher as sellers compete for holiday buyers. Track if absorbed listings maintain their 17.6% year-over-year growth rate. Watch inventory levels to see if the 17.6% annual increase continues building toward more balanced conditions.
For 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 source this story. To see what’s happening in your own local market, generate housing market reports. For enterprise clients looking to license the same market data at a larger scale, visit HW Data.
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