Home sales in the Indianapolis metro fell 11.3% from a year earlier in October 2026, according to the preliminary count in Zillow's October 2026 market report. Sales across the U.S. fell 8.7% in the same month, per Zillow. So yes, sales are down in Indianapolis, and the drop is a little steeper than the national one.
This post lays out the Indianapolis figures from that report, sets them beside 11 other metros, and explains why the sales numbers you see from different sources do not match. Zillow published the report on November 5, 2026.
The short answer
- Sales: the Indianapolis metro had 11.3% fewer home sales in October 2026 than in October 2025 (Zillow, preliminary count).
- Homes for sale: inventory in the Indianapolis metro was up 11% from October 2025 (Zillow), against a 3.4% rise nationally.
- Home values: the typical Indianapolis-area home value was $291,082 in October 2026, up 0.8% from a year earlier and down 0.5% from September (Zillow).
- Rent: the typical Indianapolis-area rent was $1,510 in October 2026, up 3.8% from a year earlier and up 0.2% from September (Zillow).
Zillow says the October sales count is a preliminary estimate and that it will revise the figures mid-month. Read the 11.3% as an early number that may move.
Why do Indianapolis sales numbers differ by source?
Three sources have reported local sales changes this fall. Each one counts a different area, a different stretch of time and a different set of homes, so the figures sit side by side without contradicting each other.
| Source | Area and homes counted | Period | Sales change from a year earlier |
|---|---|---|---|
| Zillow | Indianapolis metro, all existing homes (preliminary count) | October 2026 | Down 11.3% |
| MIBOR's September 2026 report | Central Indiana, single-family homes | September 2026 | Down 3.5%, to 2,549 closed sales |
| Roots Listings | 17 central Indiana counties, single-family homes | 30 days ending November 3, 2026 | Down 8.8%, to 2,184 homes sold |
All three point the same direction. Our own count comes from the Roots Listings feed behind our weekly Indianapolis market update, which we refreshed on November 6, 2026. That page shows 7,510 single-family homes for sale in the 17 counties on that date, or about 3.4 months of supply (homes for sale divided by homes sold in the last 30 days).
What the national slowdown looks like
The national numbers give the Indianapolis figures their context. All of the following are from Zillow's October 2026 report unless another source is named.
- Newly pending listings fell 16.8% from a year earlier and 9.1% from September. Zillow says the yearly decline was the largest it has recorded since August 2023, and that no October has been this slow since 2018.
- Existing-home sales came to 304,105 in October 2026 on Zillow's preliminary count, down 8.7% from a year earlier and 5.4% from September.
- Mortgage rates averaged 7.33% in October 2026, up from 6.86% in September. Those averages come from Freddie Mac's weekly 30-year readings (our arithmetic: five October readings and four September readings).
- The monthly payment on the typical U.S. home was $2,004 in October 2026 with 20% down, before taxes and insurance. That is up 12.8% from a year earlier and 4.8% from September, the largest month-to-month increase in four years, and Zillow attributes the increase almost entirely to higher rates.
- The timing: Zillow says October closings mostly reflect deals agreed in September, when rates were under 7% for much of the month. It expects November to show a larger contraction and the slowdown to ease into the new year. That is Zillow's expectation, and no forecast is a promise.
The report gives no October payment figure for Indianapolis, so we are leaving that math out. Our market update carries the latest weekly rate.
How does Indianapolis compare with other metros?
This table uses the metro rows from Zillow's October 2026 report. The labels match Zillow's, and the U.S. row is at the bottom.
| Metro (Zillow, October 2026) | Home sales vs. October 2025 (preliminary) | Homes for sale vs. October 2025 | Typical home value | Home value vs. October 2025 |
|---|---|---|---|---|
| Indianapolis, IN | -11.3% | 11% | $291,082 | 0.8% |
| Chicago, IL | -6.7% | 2.5% | $357,746 | 4.8% |
| Detroit, MI | -12.2% | 8.7% | $262,071 | 0.9% |
| Minneapolis, MN | -8% | 17.9% | $384,858 | 1.3% |
| St. Louis, MO | -13.2% | 8.1% | $273,202 | 2.7% |
| Cincinnati, OH | -6.5% | 7.2% | $304,861 | 1.6% |
| Kansas City, MO | -8.8% | 2.4% | $324,766 | 3.3% |
| Columbus, OH | -12.3% | 7.1% | $326,915 | 1% |
| Cleveland, OH | -5.1% | 19.8% | $250,111 | 3.5% |
| Milwaukee, WI | -2.1% | 4.4% | $384,103 | 4.2% |
| Louisville, KY | -13.4% | 16.9% | $277,066 | 1% |
| Nashville, TN | -7.9% | 8.2% | $446,749 | -0.8% |
| United States | -8.7% | 3.4% | $364,812 | 0.7% |
Three takeaways from the table:
- Sales: Indianapolis' 11.3% drop was steeper than in seven of the 11 other metros. Louisville (down 13.4%), St. Louis (13.2%), Columbus (12.3%) and Detroit (12.2%) fell further.
- Inventory: the 11% rise in homes for sale in Indianapolis beat eight of the 11 other metros. Cleveland (19.8%), Minneapolis (17.9%) and Louisville (16.9%) rose faster.
- Values: the 0.8% annual gain in Indianapolis was the second-smallest of the 12 metros in the table. Only Nashville (down 0.8%) was lower, and the U.S. figure was 0.7%.
Indianapolis rent grew 3.8% over the year, ahead of the 2.9% national gain (Zillow, October 2026). The typical U.S. rent was $1,913.
What this means if you are buying
More homes for sale and fewer buyers shopping gives you more room to compare. Zillow's read is that late fall tends to favor buyers, since many sellers want a deal done before the holidays, and that this year's conditions add to that. Nationally, 26.5% of listings had a price cut in October 2026 and the median home took 31 days to go pending (Zillow). The report has no Indianapolis figure for either one.
A few steps worth taking:
- Ask a lender for a payment quote at the current rate on the price range you want, and run it on two or three homes before you tour.
- Look up the recent sold prices for homes like the one you like. Recent sold prices show what buyers in that area are paying.
- Ask your agent which listings have sat the longest and whether the seller has already cut the price.
What this means if you are selling
With sales down and inventory up, your home competes with more listings for fewer buyers. Start from what similar homes in your area sold for in the past 90 days. Our guide to pricing when sales slow walks through the MIBOR numbers and the moves that get a home sold. For Zillow's Indianapolis price forecast, see Will Indianapolis Home Prices Drop?
What to watch next
Zillow expects to publish its November market report on December 4. We update the local numbers every week, and you can talk with us at Roots about a specific home or price range. It is a conversation over coffee, with no decision required.
Sources: Zillow October 2026 Market Report (published November 5, 2026): Indianapolis, IN, other metro rows and national figures. Zillow's sales counts are a preliminary estimate that it will revise. Freddie Mac Primary Mortgage Market Survey weekly 30-year averages, September and October 2026. MIBOR Market Insights Report, September 2026. Roots Listings, built from the MIBOR Broker Listing Cooperative feed, single-family homes in 17 central Indiana counties, updated November 6, 2026. The 3.4 months of supply and the monthly rate averages are our arithmetic.
Frequently asked questions
Quick answers from this guide.