New year opens with fewer existing-home sales, higher prices

Home sales in central Indiana got off to a slow start in 2025, with a January snowstorm likely cooling off the pace of transactions.

Closed existing-home sales in the 16-county area dipped 0.8% on a year-over-year basis last month, from 1,610 in January 2024 to 1,597 in January 2025, according to the latest data from the MIBOR Realtor Association.

Area sales have fallen in five of the past 10 months on a year-over-year basis.

The median sales price for a home in the area rose 4.3% in January, to $292,000, compared with $280,000 in January 2024.

The active inventory of homes rose from 3,421 in January 2024 to 4,342 last month, a 17.1% increase.

There were 2,172 new listings in January, up 2.9% from the same month in 2024.

“Continued price growth demonstrates the ongoing desirability of the central Indiana housing market,” MIBOR CEO Shelley Specchio said in written remarks. “While prices showed solid strength, closed sales and pending sales were both flat. However, significant snowfall followed by the polar vortex likely kept some consumer demand inside to stay warm. We expect to see February inventory growth as consumers enter the market ahead of the spring season.”

Marion County

In Marion County, closed sales in January increased 2.4% from a year ago, to 608. The median sales price in the county rose 6.5% from a year ago, to $245,000.

Other area counties

In Hamilton County, sales dropped 4.2% in January on a year-over basis, to 293. The median sales price in the county increased 7.2%, to $465,000.

In Hendricks County, sales were down 14.7% in January, to 122, and the median sales price fell 3%, to $329,950.

In Johnson County, sales jumped 32.7% last month, to 138, and the median sales price rose 6.8%, to $337,307.

Sales dropped 28.4% in Madison County in January, to 73. The median sales price slipped 1.9%, to $158,000.

Hancock County sales rose 22.2%, to 77, in January. The median price was up 15.4%, to $335,000.

Sales in Boone County decreased 10.5% last month, to 51, while the median price increased 15.1%, to $420,000.

Morgan County sales climbed 20%, to 54 last month, and the median sales price dipped 4.3%, to $305,000.

Shelby County saw a 3.7% drop in closed sales in January, to 26. The median price climbed 12.7%, to $244,500.

Statewide sales

The state saw an 1% increase in closed sales on a year-over-year basis in January, with sales rising to 4,394 last month, according the Indiana Association of Realtors.

Statewide, the median sale price rose to $250,000 in January, up 6% from a year ago.