Indianapolis

Foreclosures are up, and sale prices are down. Indianapolis is No. 18 in RealtyTrac?s list of the metro areas with the largest numbers of foreclosures, with filings last year representing 2 percent of households. It?s an undervalued market, according to Local Market Monitor, whose data shows housing prices 22 percent below equilibrium. The NAR says condo prices are affordable, too, at $116,700 in fourth quarter 2007.
Median price end of 2007: $114,000
Median price end of 2006: $117,100
% change: – 2.6%
Projected change through Q3 2008: + 2.3%
Affordability rating: 0
Foreclosures in 2007:
(1 for every 50 households)
14,591
Foreclosures in 2006:
(1 for every 53 households)
13,524
Change in foreclosures: + 7.9%
Current rate comparison
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Price trends

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June ’06: National median price $227,100
Dec. ’06: National median price $221,900
Dec. ’06: Local median price $117,100
June ’07: National median price $229,200
Dec. ’07: National median price $198,700
Dec. ’07: Local median price $114,000
* Median prices for existing single-family homes