Indianapolis, IN housing market

Nearly a third of all Indianapolis home listings have cut their asking price this summer. If you are thinking about selling, that one number tells you how buyers are treating overpriced homes right now. The typical Indianapolis home is worth about two hundred fifty-six thousand dollars, down just under 1 percent from a year ago, so values are drifting lower rather than falling hard. But sellers have been slow to adjust. About three thousand two hundred homes are for sale, with roughly one thousand three hundred new listings added this past month, so buyers have real choice. The median home is taking 51 days to go under contract, and here is where the story sharpens. The median asking price is around two hundred seventy-two thousand dollars, about seventeen thousand dollars above the typical home value. That gap is why nearly 29 percent of listings end up cutting. Sellers start high, sit for seven weeks, then give ground. What works here is pricing at or just below the market from day one, not chasing it down later. If you want to know where your home fits before you list, get a free home value estimate at Home Value Pros dot com.