Indianapolis Real Estate
The first real estate sale transaction in Indianapolis took place in the year 1821. The seller could sell just one plot and the venture failed. However, the inauspicious start was replaced by increased interest in real estate in the city. By 1870, the city was in a real estate boom and development took place at a very high pace. There was an even bigger boom in 1890s as the economy improved and tramways made it easier for citizens to move in and around the city.
Real estate development reached a record high in the 1920s but the market slumped during the Great Depression. The city pulled itself out of the Depression and the effects of World War II and the recovery process was well on its way in the 50s and 60s.
Indianapolis overcame its dark economic days in the 70s and early 80s through real estate reconstruction. However, one major feature of the real estate market in the city is the lack of support for speculative real estate construction and development. Banks offered loans only for real demand and builders were rarely permitted to borrow hoping that demand would increase.
This helped keep home prices in the city lower than the national average. Many rating agencies and real estate analysts have commended Indianapolis home prices for being very affordable. The city frequently finds its name mentioned in the Top 10 lists of affordable real estate cities, cities suitable for graduates, and affordable housing markets.
The extent of real estate development in the city combined with the relatively lower costs has made it an attractive destination as a distribution hub. Connectivity and low real estate costs are two primary advantages of starting a business in the city.