Still a seller's market by the usual yardstick, but a softer one than a year ago. In August, months of supply ran from 1.70 in Hamilton County to 3.32 in Shelby County. All eight counties were under the 4.5 to 6 months the National Association of Home Builders calls balanced. Six of the eight had more supply than in August 2025, and homes took longer to sell in seven.
I'm Wes Johnston, a Realtor with Trueblood Real Estate in Fishers. The numbers below are from the MIBOR Broker Listing Cooperative, the MLS for central Indiana, and I refresh this page monthly.
The short version: sellers still have the upper hand across the metro, but buyers have more room than they did a year ago, and how much depends a lot on where you're looking. Hamilton County is still tight at 1.70 months of supply. Shelby County has the most room at 3.32.
Here are Marion County and the seven counties around it. Months of supply is in bold because it's the number that best answers the buyer's-or-seller's question.
Tap or click a column heading to sort. On a phone, swipe the table sideways.
| County | Median price 2026 | vs. 2025 | Median days on market | % of list price | Months of supply Aug 2026 | Aug 2025 | Homes sold |
|---|---|---|---|---|---|---|---|
| Marion County | $260,000 | +1.4% | 20 (was 15) | 98.0% | 3.12 | 2.51 | 7,288 |
| Hamilton County | $490,000 | +3.4% | 9 (was 8) | 99.2% | 1.70 | 1.61 | 4,001 |
| Hancock County | $349,102 | −0.3% | 31 (was 18) | 98.4% | 2.46 | 2.50 | 1,095 |
| Hendricks County | $361,800 | +0.4% | 17 (was 15.5) | 98.8% | 2.44 | 1.77 | 1,703 |
| Boone County | $415,000 | −3.5% | 13 (was 8) | 98.8% | 1.88 | 1.79 | 878 |
| Johnson County | $326,525 | −2.5% | 24 (was 16) | 98.0% | 2.37 | 2.12 | 1,605 |
| Morgan County | $299,900 | +1.7% | 19 (was 23) | 98.8% | 1.90 | 2.05 | 411 |
| Shelby County | $243,413 | +1.4% | 31.5 (was 22) | 97.7% | 3.32 | 2.05 | 292 |
Source: MIBOR Broker Listing Cooperative via Domus Market Insights. Single-family homes, closed sales, January 1 to August 31, 2026, compared with the same months of 2025, for every city and township in each county. Days on market is the median cumulative days; % of list is the average share of list price received. Months of supply is the August single-month reading. Data updated September 26, 2026; pulled September 28, 2026.
Inside Marion County, the Indianapolis MLS city had 7,202 single-family sales this year at a median of $263,000 (+1.2% from $260,000), and 3.10 months of supply in August against 2.46 a year earlier. For individual towns, townships and neighborhoods, see the side-by-side comparison of every area.
Months of supply answers a simple question: if no new listings came on the market, how many months would it take to sell every home that's for sale now at the current pace of sales? Fewer months means buyers are competing for fewer homes. More months means sellers are competing for fewer buyers.
There's no official line, but a common yardstick is that 4.5 to 6 months is balanced. The National Association of Home Builders' economists put it this way: “Inventory between 4.5 to 6 months' supply is generally considered a balanced market” (NAHB Eye on Housing, June 2026). Below that range, the market leans toward sellers. Above it, toward buyers.
By that yardstick, all eight counties were on the seller's side in August. The loosest was Shelby County at 3.32 months, which is still short of 4.5.
Yes, in most places. Months of supply was higher than in August 2025 in six counties: Marion (3.12, from 2.51), Hamilton (1.70, from 1.61), Hendricks (2.44, from 1.77), Boone (1.88, from 1.79), Johnson (2.37, from 2.12) and Shelby (3.32, from 2.05). It was lower in Hancock (2.46, from 2.50) and Morgan (1.90, from 2.05). The biggest jump was Shelby County, from 2.05 to 3.32 months.
Homes are also taking longer to sell. Median days on market went up in seven of the eight counties and went down in Morgan County. The longest was Shelby County at 31.5 days; the shortest was Hamilton County at 9.
Prices haven't moved much, though. The median was higher than last year in Marion, Hamilton, Hendricks, Morgan and Shelby counties and lower in Hancock, Boone and Johnson counties, with changes between −3.5% (Boone) and +3.4% (Hamilton). Sellers still received between 97.7% (Shelby) and 99.2% (Hamilton) of list price on average. So there's more to choose from and more time to decide, but well-priced homes are still selling close to asking.
You have more options and more time than a year ago in most of the metro, and room to ask for things like inspection repairs or help with closing costs on homes that have been sitting. The exception is the well-priced house in a tight area. In Hamilton County, with 1.7 months of supply and a median of 9 days on market, those still go fast, so be pre-approved and ready before you tour.
Your leverage depends on the street and the price band, not the county average. The area comparison shows days on market and supply for each town and township. If you're open to new construction, New Home Builds lists quick move-in and under-construction homes pulled from builders' own sites across the area.
You're still in a good position in most of the metro, but the price has to be right from day one. With more homes to compare against, buyers pass on a house that's priced for last year and wait for a reduction. The sellers getting close to list are the ones priced to recent sales, not to the neighbor's asking price.
Plan for more time on market than a year ago. For the median days in each area, see how long it takes to sell a house in the Indianapolis area. For what actually drives your price, see what affects home value.
Monthly. I refresh this page and the area comparison once MIBOR's data for the previous month is in. This version covers January through August 2026, with months of supply as of August. For what changed week to week, including mortgage rates, read my weekly market report.
County numbers are a starting point. If you're buying or selling in a specific town, neighborhood or price range, tell me and I'll pull the recent sales and what's for sale right now.
If the honest answer is that it's a better time to wait, I'll tell you that too.
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Market figures are from the MIBOR Broker Listing Cooperative via Domus Market Insights: single-family, closed sales, January 1 to August 31, 2026 and 2025; months of supply is the August reading for each year. Data updated September 26, 2026; pulled September 28, 2026. Balanced-market range from the National Association of Home Builders (Eye on Housing, June 2026). Refreshed monthly.