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New report lists hottest Indy-area home buying

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INDIANAPOLIS, Ind. (August 13, 2015) – A new report out Thursday morning lists the hottest zip codes in the Indianapolis-area for potential home buyers.

The study from Realtor.com looked at three factors: a healthy local economy, strong real estate for buyers and sellers, and affordability that makes people buy instead of rent.

The top three locations for the Indianapolis-area are 46038 in Fishers, 46074 in Westfield and 46033 in Carmel.

These areas have what are termed neighborhood “it factors” that draw existing and first-time home buyers.

The study found that these areas have avoided home price increases that much of the country has seen, meaning it’s affordable to buy a house, and buyers have a lot to choose from.

In Fishers, for example, the study found that homes are on the market for an average of 35 days, less than half the time for homes nationwide.

“The best time to search for a home is typically when inventory is the largest, and we have been seeing inventory continuing to grow,” said Jonathan Smoke, Chief Economist with Realtor.com. “It increased again in July, so you’re about at the peak time for the most choices on the market, currently about 12,000 homes across the greater Indianapolis metro area.”

Smoke said the three Indy-area locations get about twice the number of home views online, a big indicator of interest to buy.

Of course, buyers do have to do some work, like maintaining a good credit score and saving money for a down payment.