Home price trends in Indianapolis

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City-by-city price comps

Indy could be one of the more stable markets in the United States this year, with little or no drop in home prices expected by forecasters. As with last year, housing prices continue to be below equilibrium, according to Local Market Monitor. It has seen a decline in single-family building permits — 38 percent between December 2007 and December 2008 — while multifamily building permits jumped by 128 percent during the same time period.

Median price end of 2008: $100,200
Median price end of 2007: $114,000
Percent change: -12.1%
Projected change through Q3 2009: -0.7%
Affordability rating: 0.0
Foreclosures in 2008:
(1 for every 36 households)
Foreclosures in 2007:
(1 for every 50 households)
Change in foreclosures: 39.2%
Expected to hit bottom: Q3 2009
Percent drop needed to reach bottom: -1.5%
Current rate comparison
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Price trends
Q1 2008 national median price: $196,100
Q2 2008 national median price: $206,400
Q3 2008 national median price: $200,400
Q4 2008 national median price: $180,100
Q1 2008 local median price: $107,300
Q2 2008 local median price: $118,400
Q3 2008 local median price: $117,900
Q4 2008 local median price: $100,200

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