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Not very affordable “step down”, ranch homes for seniors downsizing. Fishers needs homes in the $225,000 – $350,000 range that aren’t townhomes or “attached” homes.
Seniors who “downsize” typically look to put what they take out of their appreciated larger home back into a smaller home with upgraded features without pulling out significant equity.
$450K seems about average for a 4br suburban home in a decent subdivision in HamCo…those houses probably sold closer to $300K 8-10 years ago but the market has really shifted upward since then.
Also, you can’t build a home on a new subdivision lot for $225K. The lots alone cost $65-75K due to all the hard costs of extending utilities, building streets, creating drainage.
A detached single-family house is always going to be more expensive per-unit than an apartment, condo, or townhouse. You can’t have low-density with large lots *and* affordability without significant subsidies behind it; it doesn’t work that way.
God that’s what we need, more boring builder-grade McMansions for Fishers. BLECH. Worst town in the state gets worse.