Greenwood Rental & Sales Market Update – May 2025
Greenwood continues to impress as one of the Indianapolis metro’s top-performing rental markets. With robust rent growth π and a strong track record of occupancy, it’s no wonder investors are turning to this southside suburb for long-term opportunities.
π Rental Market Overview – Greenwood
- Average Rent: $2,100 (π +6% MoM | π +7% YoY)
- Vacancy Rate Indicator: Days on Market: 27 β¬οΈ (Down 13%)
- Active Listings: 101 (β¬οΈ 30% MoM – notable inventory surge)
Despite a 30% increase in available rental homes, Greenwood’s average days on market actually decreased — a rare and promising sign. Single-family homes and apartments are in demand, while condos remain slower movers at 38 days on market. The average price per square foot sits at $1.19, making this a strong yield market for buy-and-hold investors.
If you’re a landlord or looking to invest in this area, now is a great time to assess your Greenwood property management options and position your rentals competitively.
π‘ Sales Market Highlights – Greenwood
- Average Sales Price: $294,000 (π +4% MoM | β¬οΈ -2.5% YoY)
- Days on Market: 38 days (β±οΈ Up 65% YoY)
- Price/Sq Ft: $167 (no change)
- Number of Homes Sold: +4% MoM | -2.5% YoY
The Greenwood sales market mirrors national trends — solid month-over-month activity but a slight year-over-year price decline. Many homes fall within the $250K–$300K sweet spot, presenting ideal conditions for investors entering the market below $500K.
Curious what kind of homes are available? Explore Greenwood homes for rent and compare pricing trends to inform your next move.
π Market Outlook & Strategic Takeaways
While the rise in inventory raises questions, strong demand and positive rental growth indicate a healthy market balance. Watch closely how the active home count affects June’s numbers. This could mark a transition point — or simply a seasonal adjustment.
For savvy investors, Greenwood offers a compelling blend of stability, rent appreciation, and suburban appeal. Don’t overlook this gem on the southside of Indy.
π Looking to grow your portfolio in Greenwood or optimize performance? Let our local experts help — contact Red Door Property Management today.
Transcript Here
Greenwood May 2025 Rental & Sales Market Update
Why Investors Should Be Watching Greenwood
All right, Greenwood—I'm going to take this one because everyone knows it's the sister market to the Noblesville area. I should be personally driving these markets with how much I advocate for both Noblesville and Greenwood, not only in these market reports but with every new investor I speak to.
Most of the time, when new investors call, they're interested in these beautifully penciled-out numbers for downtown or inner-city areas—where you can pick up a property for $80,000, put a little bit of money into it, and have what looks like a great rental property. But that often looks better on paper than it turns out to be in real life.
If I can offer any insight or expert recommendation, I'd say Noblesville and Greenwood are beautiful areas to be looking at right now. Greenwood, in particular, is a bit more affordable than Noblesville.
Greenwood Rental Market Overview
Average days on market is just 27 days, down nearly 13% month-over-month—an incredible stat.
Number of active rental homes is up almost 30%, now sitting at 101 active homes. So someone’s buying homes and putting them on the rental market. And yet, days on market is ticking down. Let’s see if that trend continues in June.
Rental rates are up 6% month-over-month and up almost 7% year-over-year.
Average price per square foot: $19
Apartments: 65 on the market, average rental price $1,322, price per square foot $1.38
Condos: Only 3 available, average days on market 38, average rental $1,495, price per square foot $1.11
Take a look at the long-term graphs—the single-family home trends almost mirror last year's price movement. If that continues, we may see a further uptick in June.
Potential Red Flag: Active Inventory Spike
Mike: Almost all positive news—strong rent growth month-over-month and year-over-year. The only question mark is the 30% increase in active listings. Will that increase affect days on market or rental pricing next month? We'll need to wait and see. Active inventory is a leading indicator, while days on market is more lagging. Keep an eye on this trend.
Greenwood Sales Market Update – May 2025
Now, let’s get into the sales data for Greenwood—focused on homes under $500,000, which represents the majority of investor-friendly properties in the area. Most sales fall in the $250K to $300K range.
Average days on market: 38 (Up 65% year-over-year)
Average sales price per square foot: $167 (unchanged)
Average sales price: Up 4% month-over-month, but down year-over-year
Number of homes sold: Up 4% month-over-month, but down 2.5% year-over-year
The average price over time graph is starting to intersect with last year’s numbers, which supports what I’ve been saying recently—this could be a turning point in the sales market.
For investors, that chart showing how many homes sold at each price point is incredibly valuable to assess entry points and overall demand.
Final Thoughts: Mixed Signals, But Promising
Mike: This is consistent with what we’re seeing in other areas—a mix of data points. Year-over-year sales price and transaction volume are slightly down, but month-over-month looks strong. The question remains—are we seeing a transition period in the market?
Chris: I thought you were going to say it—is this the doom and gloom?
Mike: We'll see.
