Studs still show in the early stages of construction for a home in the Heron Creek neighborhood near Mt. Comfort. Tom Russo | Daily Reporter
Studs still show in the early stages of construction for a home in the Heron Creek neighborhood near Mt. Comfort. Tom Russo | Daily Reporter
The Crossroads of America has been a booming real estate market in 2025.

Real estate marketplace Zillow projected the Indianapolis metropolitan area as the second-hottest real estate market in the country earlier this year, and the numbers show a strong year for Central Indiana.

Data from F.C. Tucker Co. show in the month of June, available housing inventory increased by 26.4% compared to June 2024, with pending home sales slightly ticking up by 0.7% compared to the same time last year.

Some of the increase has rubbed off onto Hancock County. That same report stated that inventory in the county increased by 19% compared to June 2024 and the median home sale price increased 10.4% to $342,450.

These numbers represent a turnaround for the county, as just a few years ago, the county was in a 10% housing deficit, according to a survey by The Common Sense Institute in late 2022. Favorable market conditions and more new builds have led to the growing numbers, leaders say.

One main reason for the increase in housing in the county is that Hancock County is the last “donut” county surrounding Indianapolis and Marion County that is being developed, said Charlotte Kirkwood, realtor for F.C. Tucker in Greenfield.

“The market here is substantially higher than it was a couple of years ago,” Kirkwood said. “Hancock County is more affordable for taxes than our neighbors in Hamilton County.”

The interest rate also plays a major factor in the housing market. According to US Bank, the current 30-year fixed mortgage rate in Indiana is 6.625%, a decrease from the mid to high 7% mortgage rates in 2022 and 2023. Kirkwood believes potential buyers were waiting for mortgage rates to drop before buying new houses.

One way people in the real estate business measure market trends is through determining if an area is in a balanced market. A balanced market is where the supply of homes for sale roughly equals the demand from buyers, meaning there’s a few months’ worth of steady inventory already built and available. Kirkwood said a balanced market usually means five to six months, and Hancock County is currently at 2.1 months supply for its inventory.

“That means it’s a seller’s market, but it’s better than it was a few years ago, when we were at less than one month’s supply,” she said. “ It’s a substantial movement, and part of that is from new builds.”

Even though a plurality of sales come from existing homes, Kirkwood said new builds and permits for new housing are a good barometer for a local housing market.

McCordsville just might be the biggest example of new builds impacting a town in the county. Town manager Tim Gropp said currently, more than 4,500 homes have been approved that can be built in the town. He added that the previous couple of years were record years for building permits for the town.

“We can easily see our population double in the next decade because of all the permits we have given,” Gropp said. “With Lawrence and Fishers reaching the limit of how far they can build, McCordsville has become an attractive place for developers.”

Since he started as town manager in 2022, Gropp said the housing market has been strong in the town for most of his tenure. He added that even though he has expected a slowdown on building permits or sales, it has not happened yet. In 2024, the town saw 518 single-family houses built.

Greenfield has seen similar gains as well. So far in 2025, Greenfield has issued permits for 171 houses, and in 2024, the city issued 203 housing permits. Most of the new housing permits for 2025 have been for subdivisions, such as Evergreen Estates, at the northeast corner of New and Blue roads; and Brandywine Farms.

However, remodels have been a large part of the housing market in the county as well. Andy Isch, general manager of Bradford Builders, said remodels provide a more affordable price point for purchase along with the opportunity to renovate the house.

“With how the zoning is in Hancock County, you may be able to get a good piece of land, but you may not have enough money to build a house on it,” Isch said. “When we do remodels, it ensures people can focus on finding the house first.”

Isch also noted there has been a general hesitancy in the market to commit to purchases, saying homes have been staying on the market for longer than usual. He attributes this to less confidence in the economy, high inflation rates and potential homebuyers seeking out other financial options.

Bradford Builders renovation and construction only for single family homes; Isch said even though the volume of projects to date for the company has been consistent, there has been a small dip in growth percentage for 2025.

”What’s happening overall in the market over the past three to five years is not sustainable,” Isch said. “I think we will see things level out with how cautious the market is.”



In the 2022 Common Sense Institute survey, Hancock County was noted as having one of the highest median home prices at $300,000. With inflation still being an issue, the average home price now has blossomed to $340,000 in the county; by comparison, the median sale price for the Central Indiana region is $305,000, according to F.C. Tucker data.

However, Kirkwood believes developers in the county have done a better job in the past few years of expanding housing options, including multi-family dwellings and other forms of housing.

“I think what we’re trying to do is always get a balance in for our buyers,” Kirkwood said.

Gropp said developers in McCordsville have started to diversify housing in the town. Even though 86% of housing is still single-family dwellings, gains have been made when it comes to multi-family projects, smaller-lot garden homes and other housing options.

Kirkwood believes the Indianapolis area is still going to be a stable market going forward.

“You’re going to see that to continue, especially in the Midwest, and especially in our county,” she said.
© 2025 Daily Reporter