Sellers vs. Buyers in 2025

It’s easier to find a motivated seller than motivated buyer right now.

When I jumped in the industry in mid-2021, I would have buyers calling me wanting to put an offer in on a property practically their first conversation with me. Frantic. What a reality distortion that was, in hindsight.

What I’m seeing is buyers want to see real value before they spend their hard-earned cash.

In fact, I’m seeing a bit of a surge in the other direction (seller activity) in some areas of Indianapolis. Let’s dig into this.

The following graphs are for Center Township only, the most “urban” part of Indianapolis.

Median Price hit its highest point at $300,000 in July 2023. We are currently hovering a bit under $250,000 in Center Township. Things have softened in the inner-most part of Indianapolis’s core housing-wise. I think it will be a while until we see things shifting strongly in favor of sellers in core urban Indianapolis.

There will be people that want to challenge me on this, but I think the data speaks plainly as well as our experience on our realty team.

Why, though?

Frankly, I am getting calls left & right for people wanting to sell their rental properties. It could be that their equity rose and they want to cash out. It could be that they have other debts and cash flow obligations. It could be they got tired of the property taxes reassessments. It’s a mixture of all of these factors. And refinancing is not really an option right now.

The point is, in the center of Indianapolis, the market has subtly shifted towards buyers. 

I have never seen so many “1% Rule” properties available to purchase as I do now. The problem is, nobody wants them. Investors have shifted towards a strong preference for “value adds” likely in hopes of stacking more cash until rates cool.

No, the market is not crashing down.

No, values are not causing buyers to go underwater or foreclose. We have some of the lowest foreclosure rates in recent history.

However, indications are playing out that buyers are getting more picky. Because they can be when there are 4x as many options out there.

Not all areas of town are acting this way. The story in Avon or Fishers or Carmel, IN could be completely different. In fact I’m noticing it is: Carmel reached its peak median price in March of 2025 ($650,000). It’s still surging upwards.

All of this presents opportunities for those who know what they’re looking for: Urban Indianapolis you’re going to have more options and leverage right now, while in all likelihood that Carmel home / investment is going to be tough to lock down but quite strong as an appreciating asset.

How are rates playing into this?

Rates are cooling off just in time for the home-buying rush of the Spring season. All we need is “good enough” which is what we have.

We headed into May with relatively lower rates averaging out at 6.76%. Keep in mind we nearly hit 7% average in mid April at the height of market / tariff worries.

My narrative since the beginning of this year was that rates don’t really matter so much. They’re in all likelihood going to remain in the upper-6% territory until the economy makes more drastic shifts that are discernible to the Fed. Until then, it’s just noise. Focus on the basics - is it a good deal? If so, buy.

What’s going on in Lebanon, IN???

Lebanon / Boone County has been making huge moves, for those that are unaware. This is an area to watch out for.

The LEAP District, which includes Eli Lilly & META developments, is one of the costliest economic developments in Indiana history, clocking in at over $14B.

They are literally re-routing water from the Wabash River to provide the needed 800,000 gallons per day. Not everyone is thrilled about this development, mostly due to the ongoing costs of maintenance that taxpayers will have to incur, and it’s threat towards Indiana natural resources.

The LEAP District will be a hub of technological advancement in the fields of life sciences, microelectronics, ag-tech, clean tech, electrification, and EV innovation.

To reiterate, this is one of the largest if not the largest economic developments in Indiana history happening just 25 minutes northwest of Indianapolis…your first stop on the way to Chicago.

The need for workforce housing there right now is jarring. I talked to someone that owns a small multifamily property in Lebanon. He said he has a waitlist of over 12 people lined up to rent his medium-term apartments in downtown Lebanon.

Things are picking up in Lebanon! I don’t think it’s too late to get in on the action but it very well could be soon…

I recall days when Multifamily in Lebanon would sit and sit and sit. Now, of the last few Multifamily properties that hit the market, most are tied up within days if not hours.

Things are shifting over in northwest Indy and it’s something to pay attention to.

Client Success Story

The cool thing about running a real estate team is that I get to see the impact happening downstream, even when I’m not involved at a personal level.

We have been harping A LOT about these new build duplex opportunities with Neu group (A developer we are partnered with) and we are just now seeing a lot of them get closed.

This investor got a $400K brand new duplex for 3.5% down. He took his shot!

This Week’s Deals

Below you’ll find deals I handpicked from what we have sourced off market and on the MLS.

PS- We have two investors off loading a significant amount of their portfolios of Single-Family and Multifamily properties. If you want the Spreadsheet list of these properties respond, “Portfolio” and I’ll get it to you!

House hack / Cash flow Duplex on the Near Eastside

• 429-431 N Colorado St. | On Market

• Duplex; 2 beds, 1 bath per side

• Rent estimate $1200-1300 per side

• What I like about this is that it’s turnkey and ready to go with great updates made; the main thing to watch out for is the area is still very much “up & coming”

• Zillow Link | Now asking $259,900

4-Plex w/ Airbnb on Morse Reservoir (!)

• 4 units — 5 bed Airbnb averaging $10k / mo, 2 bed unit leased for $2000 / mo, studio leased for $1000, Owner’s suite

• Incredible opportunity for an incoming producing property with top line revenue over $16,000 / month

• Coming to market in May

• Asking $1,500,000

• All information here 

Rental property near Plainfield w/ fenced in yard (Off market)

• 2301 Porter St. Indianapolis, IN

• Asking $198,000 O.B.O.

• 3 bedrooms, 2 bath

• Leased until August for $1545 to long standing tenant

• Rent-O-Meter market rents $1860 / mo

• Old zillow pictures

• What I like about this is the stable area & predictability; the main thing to watch for no garage here which is a downer for tenants, but there is a nice shed

New Build Duplex Opportunity - LOTS AVAILABLE

• Starting at $400,000

• Lots in inventory

• Rent out near the 1% Rule; 8-12% annualized ROI

• More Information here

• What I like about these is that it’s a brand new product with low maintenance; the main thing to keep in mind is the 25% down up front to get build started

Send this to someone that needs a starter home!

• 1903 Danbury Dr. Indianapolis, IN

• $229,000

• First time homeowner would qualify for 3% down conventional on this home

• 5 mins to Plainfield

• Zillow Link

PS: Roots is listing two quads surpassing the 1% rule (3716-3718 E Market St. & 519-521 N Gladstone Ave - $340K each). Each pull in $4400 / month. Can provide information to serious investors / agents. Very strong cash flow opportunity to right operator.

As always, if you have interest in deals email me ([email protected]). Or set up a time on my Calendly.

The Best Content I’ve Consumed This Week

• Good Wells & Safe Streets from Strong Towns. I’m obsessed with the Strong Towns content & ethos. This article said what I’ve been thinking for a long time but didn’t have the words. It’s about how to steward real estate & public spaces for communal versus private wealth. Think: Remember how fun & enlivening it was when Mass Ave was closed for outdoor dining and pedestrian walking during COVID? More initiatives like this.

• Is Indianapolis Getting a Rebrand? with Matt Mindrub of Indy Chamber — GetIN Podcast with Nate Spangle. Tons of great statistics presented on the growth of Indianapolis and great strategies discussed to attract and retain more talent in Indy.

• He Fasted 297 Days to Close One Real Estate Deal — Roots Podcast #9 with Aaron Laster. We discuss how Aaron got off the ground with owner financed deals, his first wholesales, to his mission for 3000 units in the affordable housing realm.

Full Episode:

Upcoming Events

Our real estate events are always a ton of fun. Laid back, just authentic conversation about real estate, life, and everything in between! They are free and open to anyone, especially the curious.

• Thursday, May 15th — 12-1pm — Real Estate Luncheon. Discussion with Max Moore & Tyler Lingle co-founders of Roots on how to leverage email / newsletters for high-value lead generation. Great for those in industry. Free lunch! Find details here!

• Thursday, June 26th — 4-5:30pm — Real Estate Happy Hour w/ Roots co-sponsored by Core Insurance Solutions. Find details here!

• Breaking in to New Development Masterclass August 7th — 6-8pm @ Guggman Haus Brewing. Meet & learn from speakers Ethan Fernhaber with Volumod Development / Renewing Management & Sib Sheikh a syndication & development expert. This is free & open to anyone. Find details here! 

Thanks for the read!

I started in real estate in mid-2021 after 4 years teaching in inner-city Indy. I found a passion for real estate after house hacking on Indy’s eastside. In 2023, a partner and I started Roots Realty Co.

Roots is a brokerage team part of the @properties brokerage in Indianapolis. We specialize in helping homeowners & investors Plant Roots & Build Wealth. We offer unique insights into Indy / Investing but also one-of-a-kind networking and education events. Come meet us…

I give anyone 30 minutes on a call. Book a time to chat and we will delve into your goals!

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