What does $550K get you in Indiana in July? See inside an 1872 Victorian & more

With the summer in full swing, inflation cooled in June for the twelfth straight month despite persistent rent hikes and rising gas prices.

Even with interest rates on mortgage loans hovering around 7%, the market is still moving quickly, according to Market Watch.

“There appears to be more demand than available supply for homes, especially in the real-estate market, which is keeping home prices high," Mike Simonsen, founder and president of real-estate analytics firm Altos Research, told MarketWatch. 

The Baby Boomer generation is also largely 'aging in place,' according to a recent report by investment company US Money Reserve. The report said that 38% of American homeowners age 65+ have lived in their homes for more than 30 years, and another 39% have lived in their current homes for more than a decade.

This lack of movement, combined with homeowners who refinanced during the pandemic at low rates staying put, means the limited supply of housing on the market is keeping prices steady.

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Here's a look around the state to see what homes in the $500,000 to $600,000 price range look like in July.

Indianapolis housing market

Own a piece of Indianapolis history with this Victorian townhouse on Delaware St. in the Old Northside. Built in 1872, this home has been renovated from top to bottom and seamlessly combines historic charm with updated style.

The coffered ceilings, hardwood floors and turret with curved windows remind you of the home's history and attention to detail. Features like the marble countertops, double ovens and built-in wine fridge mean you definitely aren't living in the 1800s.

The three-story home has plenty of room with more than 4,000 sq ft of space, and an attached garage so you aren't scraping ice every morning in the winter.

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Fort Wayne

This Fort Wayne condo has some incredible views. Floor-to-ceiling windows throughout the condo show off the Allen County Courthouse and the heart of downtown.

Listed for $549,900, it includes more than 1,400 sq ft of living space with a gourmet kitchen, quartz countertops, with an ultra-modern backsplash and lighting.

The primary bedroom's en-suite bathroom features heated tile flooring and a custom tiled shower, a massive walk-in closet and panoramic views of the skyline. 

June Indiana real estate:See $500K homes for sale around the state, including historic 1830 house

West Lafayette

For anyone thinking about making a move closer to Purdue, check out this Dutch colonial in West Lafayette that the listing says, "feels like the perfect setting for a Hallmark holiday movie."

The hardwood floors, multiple fireplaces, vaulted ceilings and large living room windows make it easy to see why.

The windows throughout the house help to show off the surrounding green, and the fenced-in backyard is spacious and private.

With more than 3,200 sq ft of space, this 4 bedroom, 2 bath home is only five minutes from Purdue University.

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Muncie

For those looking for more land for their money, this $580,000 home in Muncie sits on more than ten acres.

This modern farmhouse was built in 2002 and is perfect for country living in a spacious home with tons of amenities.

Take in the farm views while working in the updated kitchen with custom countertops and a farm sink.

The 4 bedroom 3.5 bath with more than 3,200 sq ft inside also has an above-ground pool outside and a large deck that is perfect for entertaining.

Evansville

This $575,000 home on Volkman Road in Evansville comes with more than enough room to spread out.

A 700 sq ft guest house and a large, insulated pole barn with a full bar and theater area come along with the five-bed, 2.5 bathroom home.

With more than 3,700 sq ft of total space, the 1954 brick home features a newly laid stone fireplace, updated kitchen and large living room.

April report:Buying or selling a home in Indiana? Here's what a $500K house looks like around the state