Existing-home sales in central Indiana see July swoon

After seeing a big jump in June, existing-home sales in central Indiana returned to a more familiar recent pattern in July.

Closed existing-home sales in the 17-county area dropped 2.7% on a year-over-year basis, from 2,929 in July 2024 to 2,851 in July 2025, according to the latest data from the MIBOR Realtor Association. The decrease in year-over-year sales was the fifth this year in seven months.

The median sales price for a home in the area rose 6.6% in July, to $325,000.

The active inventory of homes rose from 4,639 in July 2024 to 5,656 last month, a 22% year-over-year increase.

New listings were up 3.3% from a year ago, to 3,480.

Pending sales were up 15.8% in July compared with the same month a year ago.

“The housing market continues to adjust and respond through the fluctuations in mortgage rates,” MIBOR CEO Shelley Specchio said in written remarks. “Weakening jobs numbers will likely result in slightly lower rates through the back half of the year, which–coupled with more inventory–should provide some relief in affordability.”

Home sellers in central Indiana received 98.5% of their asking price in July, down slightly from 98.7% a year ago.

Marion County

In Marion County, closed sales in July fell 9% from a year ago, to 951. The median sales price in the county rose 2.3% from a year ago, to $265,000.

Other area counties

In Hamilton County, sales were up 2.4% in July on a year-over basis, to 567. The median sales price in the county rose 2.5%, to $480,000.

In Hendricks County, sales jumped 14.6% in July, to 252, and the median sales price rose 4.4%, to $365,000.

In Johnson County, sales were up 2.3% last month, to 219, while the median sales price increased 10.4%, to $340,000.

Hancock County sales were up 1.3% in July compared with a year ago, to 151. The median price rose 9.2%, to $355,000.

Sales declined 9.5% in Madison County in June, to 153. The median sales price dropped 6.7%, to $209,900.

Sales in Boone County sank 11.7% last month, to 113, while the median price increased 16.3%, to $459,500.

Morgan County sales soared 20.7%, to 99, last month, and the median sales price climbed 2%, to $320,000.

Shelby County saw a 4.7% decrease in closed sales in July, to 41. The median price fell 7.4%, to $250,000.

Statewide sales

Existing-home transactions were up 1% on a year-over-year basis statewide in July, with closed sales coming in at 7,749, according the Indiana Association of Realtors.

Statewide, the median sale price rose to $275,000 last month, up 5% from a year ago.