Chris Knight: All right, let's jump into our market report and take a quick look at what's happening in Fishers, Indiana. We'll cover where rents are trending, how quickly homes are moving, and what rental owners and investors should be paying attention to right now. Let's jump into our Fishers Market Report.

All right, let's jump into the Fishers Market Report. Let's see what the data is looking like here in Fishers, Indiana.

All right, your average rental price is at $2,390. So that is actually up 1.44% month over month, just down ever so slightly, which I'm a little bit surprised to see, to be honest with you, year over year, down 0.21%.

Average days on market is at 41, closely trending what we just reported in Indianapolis, which 41 is a little bit higher than I would prefer to see it at. Everyone knows I like to see those numbers right around 30 days on the market as an average. But 41 is certainly nothing to be too skittish about. The most important thing is here we're down 12.7% month over month.

Number of active homes here in Fishers, Indiana is at 92. So we've got a lot more on the market. Maybe that's going to factor into our average days on market as we get into next month's market report. I don't know. We'll see.

Average price per square foot is at $1.09.

Now, as we get into our apartments and townhomes and condos, our two lines there right in the middle of this report, let's go over our apartments. Apartments here in Fishers, Indiana are at an average rental rate of $1,726. Number of active apartments currently on the market is at 32, with $1.48 as your average price per square foot.

Your townhomes and condos, that is trending very closely to our average rental rate for the individual single-family homes. The townhomes are trending at $2,200 as your average rental rate, with 32 average days on the market. So you're on the market a little bit less long compared to our single-family homes. Number of active townhomes, we've got 24 of those, and with an average price per square foot at $1.15.

Now, all three of our favorite staple graphs. It's certainly my three favorite staple graphs to see how each one is trending with the next. Your average rent price trend, you see we're trending above where we were last year, which last year is going to be our light gray line there, with red indicating where we are here in 2026. We're trending above it.

Consistently, all of these markets now that we've gotten out of the COVID era are all trending in relation to where it was last year, which is awesome to see. It makes these markets a little bit more predictive.

And the average days on market, I see it ticking up there, which I don't like to see, certainly as we're getting into spring and summer months where properties in the Fishers market should be flying off the shelf. I don't like to see that little backwards check mark. So we'll see if that trends in the proper direction as we get into June's market report next month.

The average number of active homes trend. Again, it's no surprise here, especially with the rental ordinance that we talked about here in Fishers and Carmel. If you haven't caught that, we did several podcast segments about that. Be sure to check those out on our YouTube page. Also, we'd love to hear what you have to say about it.

Do you currently own a property in the Fishers or Carmel area where that rental cap has had any impact on you? I'd love to hear about it. Jump down in the comment section, tell me more about it.

Your number of active homes trend is trending up. Again, back to my original statement. It's not overly surprising. I know there was a lot of investor activity ahead of the ordinance being instituted, and now that's kind of taken back a little bit here with the state. Is it Indianapolis or is it the state itself that stepped in and kind of put the kibosh on that ordinance, Mike?

Mike Taylor: It was the state that stepped in. So Fishers and Carmel passed their individual city caps, and then a couple of months later, I don't know how long it was afterwards, the state stepped in and said, actually, you can't do that, but we're going to give you a short window of opportunity to see that through. So I think it goes through the end of 2027.

Chris Knight: Got it. So the point is here we're seeing more active homes trending over last year. We'll see how that develops. Anything you want to add here to the rental market report?

Mike Taylor: Not too much. What I like is the average rent price over time, to see that up year over year and month over month. That's really encouraging.

And then also, I think we have a typo on this one, Chris. If you look at the average rental price, year over year shows down 0.21%. But if you look at the graph, the graph is actually up year over year. So I think we just got a little bit of a typo there. Just wanted to acknowledge that.

And then days on the market. Yeah, you're right, it's up a little bit. I'm not super worried about it. It's Fishers. It's such a strong market. Look how it cratered last year in June, and I expect to see something similar. It's such a strong market. I expect in June and July we're going to see that sub-30 for sure.

Chris Knight: Yeah. I think we might have, speaking of typos, I think that could be reporting April's data. Look at that average days on market trend graph. Looks like we're stopping there in April and we didn't make it all the way to May. Would you agree with that?

Mike Taylor: Hold on here. So 41 month over month, yes. Yeah, we've got a couple of typos in the month over month and year over year.

Chris Knight: Yeah, we do. Okay, maybe we'll print a correction. But until then, we're going to rely on these numbers and I'm ready for the sales data. You ready? All right, let's get over there.

All right, let's jump into the Fishers, Indiana market report for the sales side. Let's see what's happening and where these numbers are trending.

Average sales price here, and again, keep in mind we do keep this at the investor point of view, which we cap at $500,000. There are very few investors, if any, that are looking at purchasing an investment property that's over $500,000. So that's where we cap it out at.

Average sales price is $380,619, which is up almost 4% month over month. Average days on market for a property here in Fishers is at 31. That's really healthy. And somehow that's up 72% year over year. Is that right?

Mike Taylor: Crazy.

Chris Knight: Well, that is unbelievable. But month over month we're down. So properties are having no trouble selling here in Fishers, that's for sure.

Number of homes sold, 124. There you go. Year over year we're up almost 57%. So homes are flying off the market in Fishers. These numbers speak to why you want to own a home in Fishers.

If you're listening to anything that's talking on a national level, it's like homes aren't selling. Well, they are here in Fishers, that's for sure, and around Indianapolis.

Average price per square foot is at $188. And we have our two graphs there at the bottom that you can digest. Your average sales price trend over time, which you can easily interpret, and then the number of homes sold, how much you should expect to invest if you're looking at Fishers as a potential market.

Look at that difference between $250,000 to $300,000 and then all the way to $300,000 to $350,000. Wow, that is the meat of this market, is it not?

Mike Taylor: For sure, absolutely.

Chris Knight: Anything else you want to add to the sales side?

Mike Taylor: It's not blowing it out of the water in terms of average sales price, but I have to say, in this market, a 3% to 4% increase is pretty solid. It's good to see.

Again, other parts of the country are seeing pretty significant price decreases. We're seeing, at the very least, stability and a little 4% increase in what's an unstable market. That's pretty darn encouraging. So yeah, I'm encouraged. Fishers is a great market.

Chris Knight: Yeah, yeah, yeah. All right, let's jump into our next market report.