Here is what MIBOR (Metropolitan Indianapolis Board of Realtors) has to say;

After analysis of the June 2021 data, this is what our experts are saying:

“In June we saw an increase in month-over-month active listings, however with only 2,018 listings on the market at month-end, and median days-on-market at an all-time low of 14, the central Indiana real estate market remains tight,” said Shelley Specchio, MIBOR CEO. “Increased closed and pending sales are an indication that demand is high. If you are looking to buy or sell, a MIBOR REALTOR® will be your best asset in competing in this market.”

Dr. Elliot Eisenberg, an internationally acclaimed economist and public speaker says, “In a somewhat surprising turn, the median sale price of homes in Indianapolis dipped just slightly, from the all-time high of $255,000 in May to $250,000. This is the first time since March 2021 where a record has not been set, and typically June is the high point of the year. I am mildly surprised that prices dipped from last month, especially since June is traditionally the peak of the cycle. However, I see it only as an interesting piece of data and it does not necessarily
foreshadow future price declines, especially given a price that is 14.2% above last June and an original listing price to sale price ratio of 101.9%, the highest on record.”

Year over Year data for June:
• Median sales price increased 14.2 percent to $250,000
• Average days on market decreased 60.0 percent to 14
• Current active listings decreased 37.7 percent to 2,018

MIBOR’s June 2021 Infographic
MIBOR’s June 2021 Market Report