February 2025 Housing Market Update:
Are We Still in a Seller’s Market?
As we move into February, the Indy Metro housing market remains strong, with home prices continuing to rise and sellers still commanding top dollar. However, we’re seeing some shifts, including longer days on market and slightly higher inventory levels compared to last year. Does this mean we’re heading toward a buyer’s market? Not quite.
Key February 2025 Housing Market Statistics
- Average Sales Price: $295,000 (up 6.1% from $278,000 last year)
- Average Days on Market: 23 days (a 42.3% increase from last year’s 16 days)
- Percent of Asking Price Received: 97.8% (up slightly from last year’s 97.5%)
- Housing Inventory: 2.3 months (up from 1.8 months last year, but down from January’s 2.7 months)
What This Means for Sellers
Despite homes taking longer to sell, we are still in a seller’s market. Inventory remains low, meaning demand continues to outpace supply. Sellers are still receiving 97.8% of their asking price, proving that well-priced homes are attracting serious buyers.
The small drop in inventory from January’s 2.7 months to February’s 2.3 months suggests that new listings aren’t flooding the market—another sign that sellers remain in control. However, pricing your home correctly is more important than ever as buyers take longer to make decisions in today’s shifting market.
What This Means for Buyers
While inventory is slightly higher than last year, there’s still far from enough supply to tip the scales in favor of buyers. Homes are lasting longer on the market, giving buyers a bit more breathing room, but competition is still strong—especially for well-maintained and move-in-ready properties.
Buyers should remain strategic when making offers. While sellers aren’t entertaining lowball offers, they may be more open to negotiations on terms, such as closing costs or inspection contingencies.
Are We Still in a Seller’s Market?
Absolutely. While we’re seeing more balance than in previous years, the market still heavily favors sellers. A true buyer’s market would require at least 5–6 months of inventory, and at 2.3 months, we are nowhere close.
If you’re thinking of selling, now is still a great time to take advantage of rising home values. If you’re buying, working with an experienced agent (like me! 😉) can help you navigate negotiations and find the best deal.
With Gratitude,
Miriam
p.s. Let’s Talk!
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