May 29, 2024 - News

The best time to sell your house in Indianapolis

2023 Indianapolis home sale premiums, by listing date
Data: Zillow; Chart: Erin Davis/Axios Visuals

Indianapolis homes listed for sale in early July could make $8,100 more, per a new Zillow report.

Why it matters: Sellers need all the cash they can get to make their next move more palatable.

The big picture: May has long been the best month to list your house in the U.S. But in 2023, sellers made the highest profits in the first two weeks of June, a Zillow study shows.

  • This shift is largely due to mortgage rates, which cooled slightly in June and brought some buyers off the sidelines.

Yes, but: Rates are creeping up again and recently reached a 2024 high of 7.5%.

Zoom in: In its annual report, Zillow tapped Indy to become one of the hottest housing markets of 2024 because of strong demand, steady home values, a growing number of homeowners and job growth.

  • Indianapolis was No. 4 on the list of the nation's top 10 markets, up 13 spots from 2023.
  • The projected typical home value in Indianapolis is $268,125, compared to the U.S. average of $347,415.

The other side: Buyers, if you want to avoid peak pricing, consider shopping outside of the spring and summer months.

  • Late December is the worst time to sell in Indy with homes listed around the holiday season fetching $12,500 less, according to Zillow.

What's next: Interest rate cuts aren't expected anytime soon, but if those rates do fall in 2024, we may have a second spring market.

Go deeper: Why boomers won't sell their big houses

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