“Our analysis shows that our ‘average’ Indiana home seller in 2025 is moving after around six years in their current home, gaining nearly $70,000 in equity in that time,” said Indiana Association of Realtors President Kim Ward in a news release. Photo by Jakub Żerdzicki, Unsplash.

News Release

INDIANAPOLIS — According to a new report from the Indiana Association of Real Estate Agents, new home sales in March increased by 7% in comparison to the same month of the previous year. There were a total of 7,828 new pending home sales across the state, which is also a 30% increase over February.

However, last month’s closed sales were equal to 6,160, down 3% compared to March 2024.

IAR president Kim Ward said home buyers enjoyed some room to maneuver in March, mainly as mortgage interest rates stabilized at about 6.6%.

In a news release, Ward said, “They had more options to choose from, lower rates giving them a little more budget flexibility and a few more days to make their offers — conditions that paid off in more signed contracts by Hoosiers who will be settling into their new homes by summer.”

Last month’s new listings totaled 8,830, with an increase of 11% from March 2024. The state inventory of available housing is on average less than 12,500 per day, with a 21% year-over-year increase.

The IAR added that the average house price rose to $260,000 in March, with an increase of 4% month over month and year-over-year.

The Indianapolis metropolitan area increased more than any other region in the state, with an increase of 32% between February and March, with 2,452 closings.

The Indiana Association of Real Estate Agents’ full March housing report can be read online.