INDIANAPOLIS (WISH) — The housing market usually heats up in the early summer months, but central Indiana stayed hot in July. That’s according to Dan Brown, a realtor with F.C. Tucker. 

Brown joined Daybreak on Tuesday for the monthly Real Estate Rundown, where he broke down the July report. He said typically, the housing market cools down in July following the peak spring selling season, but this year saw an increase in new home sales contracts, marking the largest monthly growth in 2025.

“Based on the July numbers we’ve seen, nothing slowed down. In fact, new contracts — pended home sales increased the largest amount in any month this year, last month. And there’s a lot of things that kick into that we can talk about, but the numbers are there. And the inventory is one of the things that’s driving that,” Brown said.

Brown noted that the inventory of homes for sale in central Indiana has been gradually improving. Currently, he says there are 6,500 homes available, which is still below the historical norm of 10,000 but significantly better than the pandemic low of fewer than 3,000 homes. Brown says Interest rates in central Indiana have moderated to around 6.5%, the lowest since April, making it more feasible for sellers to enter the market despite having previously enjoyed lower rates.

According to the report – compared to July 2024:

• Pended home sales increased 10%
• Available housing inventory increased 24.8%
• Homes spent two days longer — selling in 14 days.
• Median home sale price for the 16-county central Indiana region increased 6.3%mto $317,900.

“It’s hard to give up a 3% mortgage unless you have to. But let’s remember, people buy and sell houses when they have to. I mean, usually there’s a life event involved. It’s not just discretionary. And you can’t wait forever. So, the prices have stayed up. Our prices have been elevated. They’ve remained high, and that attracts a seller. If we can get a good amount of money for the house, and we can afford this new rate, let’s sell now. And then that puts that house on the market, and then they become a buyer. And that’s where the activity comes from,” Brown explained.

He says the median days on market for homes in central Indiana has increased to 18 days, which is longer than last year’s 12 day,s but still below the average of 45 days in a typical market. Brown emphasized that while there are more buyers in the market, the increased inventory allows them to take their time in making purchasing decisions, contributing to a more rational and healthy market environment.

Brown says the central Indiana housing market is expected to remain strong through late summer and into fall, as inventory levels and interest rates continue to support robust activity.

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