If you have a home in Indianapolis, you are living in one of the biggest cities in the United States. The last census showed that Indianapolis had a population of just under 800,000. Since that time, the city has grown quite a bit as people move from recession struck towns in the rest of the state to the more stable economy of the big city. People have even put a house for sale in Arlington Texas and moved north to Indianapolis in order to start over!

You might be one of those people looking to make a fresh start here in the big city. We have a lot going for us, from a diversified economy to a strategic location in the middle of the United States. Before you start thinking about putting your Scarborough real estate up for sale and moving to Indiana, though, you might be interested in some of the local real estate information we can provide.

First of all, let's consider the housing stock available in our city. The large population means that there are all sorts of houses and housing options for people looking to move here.

The most popular option in Indianapolis remains, of course, the single family detached dwelling. Indianapolis has not yet grown so big that condos are being built at a greater rate than detached houses, although the problems of large cities as far as commute are definitely seen here.

As with most locations in the United States, there has been little progress in Indianapolis as far as new homes. London Ontario residents and those from other areas where the recession has not hit as hard may be surprised to find that the entire stock of houses for sale in the Indianapolis area are those built three years ago or more. New development has been put on hold as home sellers and developers try to compensate for a slow market.

Even high density residential development has been slow in Indianapolis of late. The city does support a good sized condo market, but if you are looking for modern development similar to the towering modern New York or Toronto lofts you will see to the north, you likely won't find it in our city. There are many condo units available, but again they tend to be older (three or more years).

The big advantage Indianapolis offers to potential new residents is the price of the average home on the market. On average, three bedroom homes in the city are selling at just over $100,000. That might not sound like such a great deal, but consider that if one is looking at Oakville real estate, the cost is just over $500,000!

Of course, those prices will vary wildly depending on which neighborhood in Indianapolis you are looking in, and the details of the house. Make sure to contact an experienced realtor to get all the relevant facts.