Mortgage rates have fallen to their lowest point in over a year.

The Indiana Association of Realtors report more homes are for sale across the state than any summer since 2019, and the statewide median sale price dropped from $273,000 in June to $264,000 last month.

Closed sales grew 7% from June and 6% above 2023 to just over 7,400 statewide as Hoosier buyers capitalized on a more balanced market.

Indiana’s $264,000 median sale price also represented less than 97% of list price, lower than last summer.

Sellers continue their steady return to the market: New listings (8,986) grew by less than a hundred properties from June to July but outpaced 2023 (as they’ve done six out of seven months in 2024).

Overall inventory of homes for sale increased to 12,900 average daily listings through July – the fourth straight month of rising inventory, with 27% more homes available on a given day than July 2023.

56 of Indiana’s 92 counties saw closed sales finish higher than July ’23, while 70 of 92 counties had higher inventory – meaning more options for buyers. Some local and regional highlights are included in the release, attached as a PDF and pasted below.