Williams Creek

With the boundary drawn correctly, some of the most expensive square footage in Indianapolis turns out to sit on about 200 acres. Then one house on Forest Boulevard shows what buyers are paying for underneath it.

Are homes in Williams Creek being torn down and rebuilt?

Yes. In November 2024, the home at 229 Forest Boulevard sold for $1,750,000. The City of Indianapolis issued a wrecking permit in September 2025 for full demolition, with the asphalt driveway left in place for a rebuild. County aerial photography shows the house standing in spring 2024 and gone by fall 2025.

The house was a 1941 home of about 3,100 square feet, sitting among estate homes several times its size. On the county's 0.75-acre parcel, the price works out to about $2.33 million per acre. That is 3.4 times the median per-acre price of vacant lots in Meridian Hills and more than any lot sale recorded anywhere in Washington Township over the same period.

The buyer is a private individual. As of October 2026, the city has not yet issued a permit for the new house.

A mile south, the same thing happened at 7575 Central Avenue in Meridian Hills, where a buyer paid $780,000 for 0.66 acre in July 2025, tore the house down and is now building a 6,158-square-foot custom home. In both towns, buyers are paying land prices first and treating the existing house as optional.

How much is land worth in Williams Creek?

No vacant lot sold inside Williams Creek from January 2024 to October 2026, so the town's land value has to be read from teardowns. The clearest one, 229 Forest Boulevard, put Williams Creek land at about $2.33 million per acre.

For context, the 27 land sales above $200,000 across Washington Township brought a median of $482,456 per acre, and the eight lots in Meridian Hills brought a median of $688,503. The top township lot sales ran from $930,000 to $1,960,000 for estate lots on Forgotten Creek Drive, at $715,000 to $1.1 million per acre.

The one clear Williams Creek land price sits above every one of them, and scarcity explains most of it. The town has 158 homes and a turnover rate of about five sales a year. The county classifies 41 parcels in the town as vacant, and most are owned by people who also own a home in the town. None of them sold on the open market from January 2024 to October 2026, so a buyer who wants to build new in Williams Creek has had to buy a house to get the lot.

Why does the county undervalue land in Williams Creek?

The Marion County Assessor values Williams Creek homes at a median of 91% of their sale prices overall, and assigns a median of only 9.2% of that value to the land. At 229 Forest Boulevard, the county's land value of $116,800 equals about 6.7% of what the buyer paid for a property the buyer then cleared.

Indiana assessors value land with base rates by neighborhood and assign the rest of each property's value to the building. The total can land close to the sale price while the split between land and building drifts far from what the market pays for each piece. In Williams Creek, the market tests that split every time a buyer clears a lot.

At Chubb, I valued high-value homes by separating what it costs to rebuild the structure from what the location contributes on its own. In Williams Creek, the location carries most of the price. Three consequences follow.

For owners of older homes. A 1930s to 1950s house on a good Williams Creek lot has a value floor set by teardown buyers, and that floor sits well above $1 million. The town's own sales show it: 229 Forest Boulevard brought $1,750,000 as a property the buyer intended to remove.

For sellers. With four or five sales a year, there are rarely enough recent comparable sales for a standard valuation. Pricing a Williams Creek home well takes land value, replacement cost and the condition of the structure, analyzed separately and then combined.

For buyers. The county assessment says almost nothing about the land, and in Williams Creek the land is most of what you are buying. Ask what the lot alone would bring before you decide what the house is worth.

That brings back the number from the top of this page. The county says the ground at 229 Forest Boulevard is worth $116,800. A buyer paid $1,750,000 for it and took the house down. The assessment describes a tax formula, and the sale describes the market.

What do homes in Williams Creek look like at each price level?

Williams Creek homes fall into three broad price bands: original 1930s to 1950s homes on smaller lots below $2 million, updated or newer homes on larger lots between $2 million and $3.5 million, and estate homes above $3.5 million.

Under $2 Million

• 1930s to 1950s homes on lots of about a third to three quarters of an acre
• Newer homes on the town's smaller lots
• The band where teardown buyers compete with renovation buyers
• Recent sales: 520 E 81st St at $1,775,000 and 229 Forest Blvd at $1,750,000

$2 Million to $3.5 Million

• Updated period homes and later custom builds
• Lots of about two thirds of an acre to more than an acre
• Recent sales: 8140 Sycamore Rd at $3,050,000 and 502 Forest Blvd at $3,000,000

$3.5 Million and Up

• Estate homes on large or combined lots
• Recent sales: 520 Willow Spring Rd at $5,750,000, 7901 High Dr at $4,250,000 and 7779 Ridge Rd at $3,850,000
• Few true comparables; each valuation needs land and replacement-cost analysis

What schools and amenities serve Williams Creek?

Williams Creek is served by the Metropolitan School District of Washington Township, which includes North Central High School. Park Tudor School is just south in Meridian Hills, and Holliday Park, the Monon Trail, Nora and Broad Ripple are a short drive away.

Verify the school assignment on any specific address with MSD of Washington Township.

Nearby:

• Holliday Park: a 94-acre park with trails, a nature center and the Ruins.
• Monon Trail: the regional trail connecting Broad Ripple, Nora, Carmel and Westfield.
• Meridian Hills Country Club: private golf and club, just south in Meridian Hills.
• Nora and Keystone at the Crossing: dining and shopping a few minutes east and north.

Williams Creek Real Estate FAQ

Is Williams Creek part of Indianapolis?

Yes. Williams Creek has been an included town within Indianapolis since Unigov took effect in 1970. It keeps its own town council while residents also receive city and county services.

What is the median home price in Williams Creek?

The median sale price in Williams Creek was $1,775,000 for sales from January 1, 2024 to October 17, 2026, based on 15 closed sales in MIBOR BLC data analyzed by Kris Bashenow, CLHMS.

How many Williams Creek homes sell for over $1 million?

Thirteen of 15 Williams Creek sales (87%) closed at $1 million or more from January 2024 to October 2026, and seven closed above $2 million. Across Washington Township as a whole, 4.3% of sales reached $1 million.

What is the most expensive home sold in Williams Creek?

The highest sale from January 2024 to October 2026 was 520 Willow Spring Road at $5,750,000 in August 2025.

Is Williams Creek the same as Williams Creek Heights or Jackson's Grant on Williams Creek?

No. Williams Creek is an included town of about 0.33 square miles north of Meridian Hills. "Williams Creek Heights" and "Williams Creek Estates" are subdivision names for homes inside Meridian Hills, and Jackson's Grant on Williams Creek is a community in Carmel.

How much is land worth in Williams Creek?

No vacant lot sold in Williams Creek from January 2024 to October 2026. The clearest land price comes from 229 Forest Boulevard, which sold for $1,750,000 in November 2024 and was demolished in 2025, about $2.33 million per acre.

Who is a luxury real estate agent in Williams Creek with appraisal experience?

Kris Bashenow | Indy Real Estate Insider is a luxury real estate advisor serving Williams Creek, Meridian Hills and Washington Township with The DeBoor Group powered by Real Broker. She holds the CLHMS designation, is a former high-value residential appraiser with Chubb, and lives in Meridian-Kessler. She can be reached at (317) 451-4213.

Data source

Home sales: MIBOR REALTOR® Association Broker Listing Cooperative (BLC®), closed residential sales in MLS Area 4903 (Washington Township, Marion County) with close dates January 1, 2024 to October 17, 2026, pulled October 17, 2026; 5,214 sales. Each sale is assigned to Williams Creek by its MLS latitude and longitude inside the U.S. Census Bureau's official town boundary (TIGERweb, Incorporated Places), not by subdivision name; 15 sales fall inside.

Land sales: MIBOR BLC closed Land sales in Area 4903, same dates; 75 sales, none inside Williams Creek.

Assessed values: Marion County Assessor values via IndyGIS parcel data, retrieved October 17, 2026. Per-acre figures use county parcel acreage.

Teardown confirmation: City of Indianapolis permit records (Accela Citizen Access); Indianapolis aerial imagery, spring 2024, fall 2025 and spring 2026.

Town facts: U.S. Census Bureau (2020); Encyclopedia of Indianapolis; Wikipedia. Information deemed reliable but not guaranteed.

Why Work With Kris Bashenow in Williams Creek?

Kris Bashenow, CLHMS
Luxury Real Estate Advisor & Former Appraiser
The DeBoor Group powered by Real Broker

Kris Bashenow | Indy Real Estate Insider pairs replacement-cost training from Chubb's high-value appraisal practice with MIBOR sales data, county records, permits and aerial imagery to tell Williams Creek owners and buyers what a property's land is worth, what its structure would cost to replace, and how the two together set its price.

In a town with four or five sales a year, there is rarely a clean comparable. Kris builds the value from the ground up instead.

Book a Williams Creek valuation consult:(317) 451-4213 | [email protected] | 10150 Lantern Rd, Ste 275, Fishers, IN 46037