If you’ve looked at the latest Central Indiana numbers and thought, “Cool, so… is this good or bad?” you’re not alone.

Real estate stats have a special talent: they can sound dramatic while basically saying, “People still live in houses.” The good news is the December market watch data gives a few clear signals you can actually use, whether you’re buying, selling, or just doom scrolling Zillow in bed.

This post breaks down what changed, what stayed weirdly steady, and what to do next depending on your situation.

The Big Picture: More Homes For Sale, Slightly Fewer Deals

The headline trend is simple: inventory is up, sales activity cooled a bit, and prices nudged higher.

According to the report, overall available inventory in the 16-county Central Indiana region rose 27% year over year, while pended sales dipped 2.1%. Homes took three more days to sell than last year, with a median of 17 days on market. Median sale price increased 3.4% to $305,000.

Translation In Normal Person Language

• Buyers: you have more options than you did last year, and you might not have to sprint into every showing like it’s a Black Friday doorbuster.
• Sellers: you can’t just toss your house online with three dim photos and a “motivated seller!!!” description and expect chaos.
• Everyone: prices are not collapsing. Sorry, TikTok.

Mortgage Rates: The Sneaky Supporting Character

The report notes mortgage rates have dropped almost a full percentage point since the beginning of the year.

That matters because a small rate shift can move a monthly payment more than you expect, especially in the $300k to $500k range. If you felt priced out earlier this year, it’s worth re-running the numbers instead of assuming nothing changed.

Inventory Is Up. That Changes The Power Dynamic.

When inventory climbs, the market stops feeling like a bidding-war carnival and starts feeling more like… normal commerce. You know, where a person can ask a question and not get emotionally punished for it.

What “Inventory Up 27%” Actually Means

The report shows 1,381 more active listings across the region compared to last year (5,108 to 6,489).

That matters because inventory is the supply side of the story. When supply rises:

• Buyers can compare properties instead of panic-buying the first decent kitchen they see.
• Sellers face more competition, so condition and pricing start to matter again.
• Price cuts become less “rare shameful event” and more “standard course correction.”

Why This Feels Bigger In Some Counties

The county table shows massive variation. One county’s inventory jumped more than 200% year over year, while a couple counties actually dipped slightly.

So if your friend in one area is screaming “It’s still insane!” and your cousin across town is casually negotiating repairs, both can be telling the truth. Local pockets behave differently, even inside the same metro.

Pended Sales Softened, But Not In A “Everyone Fled” Way

Pended sales are signed contracts that have not closed yet. They’re a helpful leading indicator because they tell you what buyers are doing right now, not what they did 30 to 60 days ago.

The Region: Down 2.1%

A 2.1% dip is not a cliff. It’s more like the market took a sip of water and sat down for a second. Holiday season usually slows things anyway, and the report even calls that out as typical.

But The Price Tiers Tell A Fun Story

One of the most useful pages in the report breaks activity down by price band. Here’s what stood out:

• Under $100k: active listings rose, and pended sales rose too (43.1%). Small segment, but demand is still there.
• $100k To $299k: listings rose and pended sales fell. Translation: affordability is doing its usual thing where it matters a lot.
• $300k To $499k: listings rose and pended sales barely moved. That price band is the “family house in the suburbs” sweet spot for a lot of people, so it tends to stay active.
• $500k To $999k: listings rose and pended sales were basically flat.
• $1M To $2M: listings rose and pended sales rose (48.6%). Yes, luxury buyers are still out here doing luxury buyer things.

Days On Market: 17 Days Is Still Fast

The report says homes sold in a median of 17 days, which is three days longer than last year.

If you’re a seller, you might read “longer” and get nervous. If you’re a buyer, you might read “17 days” and laugh-cry. That is still quick.

What This Means For Buyers

You may actually have time to do basic adult things like:

• Read the seller disclosures without speed running them like a pop quiz
• Compare two houses without your agent texting “They already have 9 offers”
• Ask for an inspection without feeling like you just insulted someone’s mother

Still, don’t confuse “slightly slower” with “slow.” The good homes are still moving.

What This Means For Sellers

17 days does not mean you can nap on your listing, but it does mean buyers are more selective. Condition matters. Marketing matters. Pricing matters. The lazy strategy of “list high and see what happens” works less when buyers have choices.

Prices: Up 3.4% Regionwide, With County Differences

Median sale price for the region came in at $305,000, up 3.4% from $295,000. :contentReference[oaicite:12]{index=12}

The year-to-date table shows most counties saw price increases, with a couple basically flat compared to last year.

Why This Matters

If you’ve been waiting for a dramatic price drop to “get a deal,” this report is a gentle reminder that Central Indiana is not a soap opera. It’s a place where people move for jobs, family, schools, and life changes. Those pressures keep a floor under demand.

The Non-Obvious Strategy: Stop Obsessing Over The Median

Median price is useful, but it can trick you into thinking every house is participating equally in the “up 3.4%” moment. It’s an average of a middle point, not your specific home or your specific budget.

A better move is to track one neighborhood or one zip code and watch:

• How many similar homes are active right now
• How often those homes cut price
• How quickly they go pending
• What concessions show up in listing descriptions (closing costs, rate buydowns, repairs)

That’s the stuff that changes your negotiating power in real life, not a regionwide median.

Months Of Inventory: The Quiet Signal People Ignore

Months of inventory is basically, “If no new listings hit the market, how long would it take to sell what’s available at the current pace?”

The report shows months of inventory rose from 2.2 to 2.8 year over year.

That is still not a high number, but direction matters. Rising months of inventory usually means buyers have more leverage than they did before, especially on homes that are overpriced or dated.

Where This Helps Buyers The Most

If you want leverage, focus on:

• Homes that have been sitting for 20+ days
• Listings with obvious “we priced this in 2021” energy
• Properties with photos that look like they were taken on a potato
• Homes with cosmetic issues (paint, flooring, fixtures) that scare off people who only want move-in perfect

Yes, you will still compete on the best listings. No, you don’t have to overpay for the ones that are clearly struggling.

So… Is This A Buyer’s Market Or A Seller’s Market?

If you want a simple label: it’s leaning more balanced than last year, but it’s not a full buyer takeover.

Here’s the vibe:

• Well-priced, well-presented homes still move fast.
• Overpriced or tired homes sit longer and take cuts or concessions.
• Buyers have more chances to negotiate than they did, especially outside the “perfect house” category.
• Sellers can still win, but they have to act like they’re in a competition again. Because they are.

What Buyers Should Do Right Now

1) Decide Your “Must Not Hate It” List

Not a dream list. A realistic list. Three to five things you need for the house to work for your life. For example: location, number of bedrooms, a yard for a dog, a basement, a garage. Keep it short or you’ll talk yourself into renting forever while waiting for unicorns.

2) Make Your Offer Strategy Conditional

This is where people mess up. They use the same offer approach on every home, and then they’re shocked when it doesn’t work.

Try this instead:

• If a home just hit the market and it’s clearly a standout, be aggressive on price or terms.
• If it’s been sitting, ask for closing cost help, repairs, or a price adjustment.
• If it’s dated but structurally fine, negotiate based on cosmetic updates you can actually do.

3) Budget For The Stuff Nobody Puts In TikToks

Moving costs. Utility deposits. Window blinds. A lawn mower. A random Home Depot run that ends up being $312 even though you “only needed two things.” It happens to everyone.

If you want to get nerdy, keep a separate “first 90 days” fund. Even $1,000 to $2,500 makes your first few months way less stressful.

What Sellers Should Do Right Now

1) Price Like You Want A Buyer, Not Like You Want Validation

The report shows more inventory and slightly slower pace. That’s your warning label. Pricing high “to leave room to negotiate” often just leaves you sitting while the good listings go pending.

2) Fix The Fast Stuff

I’m not telling you to remodel a kitchen for internet points. I’m saying do the stuff that screams “deferred maintenance”:

• Patch obvious holes
• Replace burnt-out bulbs
• Touch up trim and scuffed paint
• Stop the mystery smell. Please.

Buyers can forgive dated. They hate neglected.

3) Compete In Photos Like Your Mortgage Depends On It

Because it might. With inventory up, buyers scroll more and filter harder. Photos are not a luxury. They’re the first showing.

One More Take: The Market Is Not Frozen, It’s Just Picky

The report’s combination is telling:

• Inventory up
• Pended sales slightly down
• Days on market slightly longer
• Prices still up

That’s not a crash. That’s a market where buyers are choosing more carefully and sellers have to earn the sale again.

If You Want The Quick Cheat Code

• Buyers: pick your lane, watch days on market, negotiate on the listings that are struggling.
• Sellers: price correctly, make it clean and photo-ready, and expect buyers to ask for things.

A Final, Practical Checklist You Can Save

• Buying this winter? Get pre-approved, then shop based on payments, not just price.
• Selling this winter? Do pre-list repairs and price to win week one.
• Still undecided? Watch one neighborhood for two weeks and track: new listings, price cuts, pending speed.

That’s it. No drama. Just choices, leverage, and a little bit of strategy.