Home sales in central Indiana were down in March, falling for the fourth time in the last five months.
Closed existing-home sales in the 17-county area fell 2.2% on a year-over-year basis, from 2,455 in March 2024 to 2,401 in March 2025, according to the latest data from the MIBOR Realtor Association.
Area sales have fallen in seven of the past 12 months on a year-over-year basis.
The median sales price for a home in the area rose 3.4% in March, to $305,000.
The active inventory of homes rose from 3,295 in March 2024 to 3,886 last month, a 17.9% increase.
There were 3,204 new listings in March, up 3.1% from the same month in 2024.
Home sellers in central Indiana received 98.2% of their asking price in March, the same percentage as a year ago.
Marion County
In Marion County, closed sales in March sank 8.7% from a year ago, to 869. The median sales price in the county rose 1.8% from a year ago, to $252,000.
Other area counties
In Hamilton County, sales were up 4.8% in March on a year-over basis, to 434. The median sales price in the county increased 5%, to $455,637.
In Hendricks County, sales were up 1.9% in March, to 220, and the median sales price rose 1.6%, to $354,000.
In Johnson County, sales surged 17.2% last month, to 198, while the median sales price dipped 0.8%, to $317,500.
Hancock County sales soared 33.7%, to 131, in March. The median price was up 11.3%, to $346,075.
Sales dropped 16.7% in Madison County in March, to 120. The median sales price sank 8.6%, to $185,000.
Sales in Boone County decreased 28% last month, to 72, while the median price increased 21.1%, to $433,060.
Morgan County sales rose 17.4%, to 81, last month, and the median sales price dipped 1.8%, to $280,000.
Shelby County saw a 17.1% rise in closed sales in March, to 41. The median price slipped 4.2%, to $230,000.
Statewide sales
The state saw an 3% decline in closed sales on a year-over-year basis in March, with sales falling to 6,160, according the Indiana Association of Realtors.
Statewide, the median sale price rose to $260,000 last month, up 4% from a year ago.