Indiana’s housing market slowed seasonally in November, with fewer new listings and closed sales compared to October, according to the Indiana Association of Realtors.

New listings dropped nearly 30 percent month-to-month to 6,466, but the number of homes available for sale remained at a five-year high. An average of 18,797 homes were on the market each day in November – 15 percent more than a year ago and roughly equal to November 2019 levels.

Despite the slowdown, pending sales totaled 5,840, about 1 percent higher than November 2024, driven largely by homes priced between $250,000 and $350,000. Closed sales dipped 5 percent year-over-year to 5,776, while the median sale price edged down to $267,000, still 3 percent higher than last November.

Homes took longer to sell, averaging 31 days on the market, and sellers received about 94.6 percent of their original list price. More than half of active listings have seen price reductions since late September.

IAR President Kim Ward said year-to-date trends remain positive, noting increased listings, steady buyer activity and continued price growth. She added that Indiana’s relatively affordable housing market remains a competitive advantage, though first-time buyers continue to face challenges.

Locally, November sales were led by Marion County with 803 closings, followed by Hamilton, Allen, Lake and St. Joseph counties.