Evansville, IN Housing Market Report

The Evansville, IN-KY housing market currently presents a balanced yet competitive landscape as of December 2025. With a median home value of $191,979 and a sale-to-list ratio of 0.99, properties are selling almost exactly at their asking prices, indicating a market that is efficiently priced. While active inventory has surged by 20.54% year-over-year to 1,074 units, the pace of sales has actually accelerated, with homes spending an average of 51 days on the market—five days fewer than the previous year. This suggests that while buyers have more options than they did in 2024, demand remains robust enough to absorb the new supply quickly.

Price trends over the last six months show a consistent upward trajectory, with values rising steadily from $189,304 in July to nearly $192,000 by year-end. This 3.86% annual appreciation reflects a sustainable growth rate compared to the volatile spikes seen in previous years. A significant driver of this market is the rental sector; with median rents climbing 7.86% to $1,025, many residents are finding that the cost of homeownership remains a compelling alternative to renting, especially given Evansville's position as one of the more affordable mid-sized metros in the region.

Looking ahead, the Evansville market appears poised for continued stability. For sellers, the decrease in days on market is a positive signal that well-priced homes will move quickly despite the increase in overall inventory. For buyers, the rise in active listings provides a much-needed reprieve from the extreme bidding wars of the past, though they should still expect to pay close to list price. As we move into 2026, the primary challenge for the market will be whether inventory can continue to grow to meet the demand fueled by the city's relative affordability and the rising costs of the local rental market.