Colony Square

Colony Way

Recent Home Sales $495,000 – $560,000 4 sales · last 3 years
Typical Value Today $626,000

Location and boundaries

Key facts

  • Status Established
  • Total Homes 67
  • Established 1990 - 1993
  • Total Acres 32 ac
  • Avg. Lot Size 0.42 ac
  • Median Sale Price $555,000
  • Typical Home 4 bd · 3,391 sq ft
  • Basements 72%
  • Single-story Homes 6
  • Homes with Pools 7
  • Owner-occupied 99%

Zoned schools

Elementary school
Pleasant View Elementary School
(317) 873-2376
Middle school
Zionsville Middle School
(317) 873-2426
High school
Zionsville Community High School
(317) 873-3355

Based on the 2026-27 list. Assignments group by neighborhood per the ZCS list and boundary map; confirm with ZCS.

See the full attendance map →

Amenities and features

Internet
  • Fiber up to 5.1 Gbps: Metronet
  • Cable up to 1 Gbps: Spectrum
  • DSL: AT&T
  • Fixed wireless: AT&T, T-Mobile, Verizon
  • Check your address
Utilities
  • Water: Municipal (Citizens Energy)
  • Sewer: Municipal (Town of Zionsville)
  • Electric: Duke Energy

About the neighborhood

Colony Square is a single-family neighborhood in Zionsville with 67 homes on lots averaging about 0.42 acres, built out 1990–1993. Children attend Pleasant View Elementary School, Zionsville Middle School, and Zionsville Community High School, in Zionsville Community Schools (per the district's 2026-27 list).

The county has recorded 4 finished-home sales here in the last three years, with a median price of $555,000 and a range of $495,000 to $560,000. A homeowners association managed by Don Schafer serves the neighborhood.

Sales by year

$200k $400k $600k $0 2017 2 sales $380k 2018 6 sales 2019 2 sales 2020 — $435k 2021 5 sales 2022 4 sales 2023 2 sales 2024 2 sales 2025 1 sale 2026 so far 1 sale

Median recorded sale price per calendar year. Years with fewer than five finished-home sales show each sale as a dot instead of a median; the current year is still recording.

Most recent

Recorded Address Price
Aug 21, 2026 37 Penn Pl $550,000
Aug 13, 2025 58 Penn Pl $495,000
Sep 12, 2024 57 Penn Pl $560,000
Aug 26, 2024 861 Franklin Trace $560,000
Jul 18, 2023 932 Franklin Trace $502,000
Apr 6, 2023 17 Penn Pl $539,723
Aug 30, 2022 912 Franklin Trace $550,000
Jul 28, 2022 962 Franklin Trace $480,000

Every sale, month by month, is on the what-sold report.

About 2 homes sell here in a typical year, 3.6% of the neighborhood, from 12 recorded sales over the last five years.

Housing overview

Home Types

Single Family

What’s changing nearby

Nothing is on file with the town for this part of Zionsville right now.

Nearby neighborhoods

Mulberry Place
Mulberry Place
17 homes · $800,000
Colony Woods
Colony Woods
301 homes · $658,000
Benderfield
11 homes · $879,000
Village Walk
Village Walk
167 homes · $443,000
Bloor Woods
23 homes · $524,000

Photo gallery

Colony Square Thumb
Thumb

Key facts

  • Status Established
  • Total Homes 67
  • Established 1990 - 1993
  • Total Acres 32 ac
  • Avg. Lot Size 0.42 ac
  • Median Sale Price $555,000
  • Typical Home 4 bd · 3,391 sq ft
  • Basements 72%
  • Single-story Homes 6
  • Homes with Pools 7
  • Owner-occupied 99%

Zoned schools

Elementary school
Pleasant View Elementary School
(317) 873-2376
Middle school
Zionsville Middle School
(317) 873-2426
High school
Zionsville Community High School
(317) 873-3355

Based on the 2026-27 list. Assignments group by neighborhood per the ZCS list and boundary map; confirm with ZCS.

See the full attendance map →

Follow this neighborhood

One email when a home sale in Colony Square is recorded, with the price. Plan Commission and BZA filings that touch the neighborhood are included too. At most one a week each; quiet weeks send nothing.

Double opt-in; one-click unsubscribe in every email. We never share the list. How the alerts work →

The Village, parks & trails

The Village
0.9 mi
to Main & Oak
Nearest town park
Big-4 Rail Trail
adjoins the neighborhood
Big-4 Rail Trail
Under 0.1 mi
Homes near a town pathway
100%
within a quarter mile

Straight-line distances to the town's GIS park and pathway layers; the Village is measured at Main and Oak. HOA-private trails aren't counted.

See the parks & pathways map →

HOA details

Management: Don Schafer

[email protected]

Jurisdiction

  • Town limits Town of Zionsville
  • Township Eagle
  • Council District 4
  • Zoning R-SF-3
  • Tax Dist. 06006

On the town council this area is represented by Sarah Esterline Sampson, plus two at-large members (roster as of July 2026).

Homes in Colony Square

67 parcels on record

57 Penn Pl

Zionsville, IN 46077
4 bd 2.5 ba 2,449 sq ft 1990
Est. today $679,000
Last Sold Sep 2024: $560,000

58 Penn Pl

Zionsville, IN 46077
4 bd 2.5 ba 2,585 sq ft 1990
Est. today $564,000
Last Sold Aug 2025: $495,000

7 Penn Pl

Zionsville, IN 46077
4 bd 2.5 ba 2,196 sq ft 1992
Est. today $561,000
Assessed Value: $484,100

701 Franklin Trace

Zionsville, IN 46077
4 bd 2.5 ba 2,622 sq ft 1990
Est. today $587,000
Assessed Value: $506,500

711 Franklin Trace

Zionsville, IN 46077
4 bd 3.5 ba 2,596 sq ft 1992
Est. today $860,000
Last Sold Jun 2022: $629,000

712 Franklin Trace

Zionsville, IN 46077
4 bd 2.5 ba 2,310 sq ft 1990
Est. today $478,000
Assessed Value: $412,400

722 Franklin Trace

Zionsville, IN 46077
4 bd 2.5 ba 2,636 sq ft 1992 0.52 ac
Est. today $526,000
Assessed Value: $454,500

731 Franklin Trace

Zionsville, IN 46077
4 bd 2.5 ba 2,629 sq ft 1992 0.78 ac
Est. today $637,000
Last Sold Dec 2018: $375,000

732 Franklin Trace

Zionsville, IN 46077
6 bd 3.5 ba 2,624 sq ft 1992
Est. today $633,000
Assessed Value: $546,400

742 Franklin Trace

Zionsville, IN 46077
4 bd 2.5 ba 3,137 sq ft 1993 0.55 ac
Est. today $689,000
Assessed Value: $594,800

752 Franklin Trace

Zionsville, IN 46077
5 bd 3.5 ba 2,605 sq ft 1992 0.69 ac
Est. today $837,000
Last Sold May 2019: $499,000

761 Franklin Trace

Zionsville, IN 46077
4 bd 2.5 ba 2,812 sq ft 1992
Est. today $621,000
Assessed Value: $535,900

762 Franklin Trace

Zionsville, IN 46077
4 bd 2.5 ba 2,612 sq ft 1991 0.52 ac
Est. today $531,000
Assessed Value: $458,700

772 Franklin Trace

Zionsville, IN 46077
4 bd 2.5 ba 2,332 sq ft 1991
Est. today $491,000
Last Sold Oct 2016: $273,000

782 Franklin Trace

Zionsville, IN 46077
4 bd 2.5 ba 2,294 sq ft 1990
Est. today $549,000
Assessed Value: $474,300

8 Penn Pl

Zionsville, IN 46077
3 bd 2 ba 2,244 sq ft 1991
Est. today $484,000
Assessed Value: $417,600

802 Franklin Trace

Zionsville, IN 46077
4 bd 2.5 ba 2,354 sq ft 1993
Est. today $668,000
Assessed Value: $576,600

812 Franklin Trace

Zionsville, IN 46077
4 bd 2.5 ba 2,440 sq ft 1991
Est. today $548,000
Last Sold Jun 2010: $275,000

821 Franklin Trace

Zionsville, IN 46077
4 bd 3 ba 2,920 sq ft 1992
Est. today $725,000
Last Sold Jul 2021: $520,000

822 Franklin Trace

Zionsville, IN 46077
4 bd 3.5 ba 2,535 sq ft 1992
Est. today $601,000
Assessed Value: $519,400

832 Franklin Trace

Zionsville, IN 46077
4 bd 2.5 ba 2,597 sq ft 1993
Est. today $582,000
Assessed Value: $502,400

841 Franklin Trace

Zionsville, IN 46077
4 bd 3.5 ba 2,860 sq ft 1992
Est. today $793,000
Assessed Value: $684,700

842 Franklin Trace

Zionsville, IN 46077
4 bd 2.5 ba 2,721 sq ft 1990 0.6 ac
Est. today $624,000
Assessed Value: $539,100

861 Franklin Trace

Zionsville, IN 46077
5 bd 3 ba 2,936 sq ft 1997
Est. today $693,000
Last Sold Aug 2024: $560,000

Common questions

The median recorded sale price in Colony Square is $555,000, from 4 finished-home sales in the last three years. Vacant-lot sales are excluded. Records-based estimates put the typical home value today near $626,000.

Yes, Colony Square has a homeowners association, managed by Don Schafer.

99% (66 of 67 homes) were billed at Indiana's homestead rate on 2025 property-tax bills, which marks a home as its owner's primary residence. The rest are rentals, second homes, or recent purchases where the homestead filing hasn't caught up.

Colony Square is served by Pleasant View Elementary School, Zionsville Middle School, Zionsville Community High School, part of Zionsville Community Schools. This is based on the district's housing-additions list for 2026-27. Assignments group by neighborhood per the ZCS list and boundary map; confirm with ZCS.

FCC filings as of Dec 31, 2025 report fiber from Metronet, cable from Spectrum, and DSL from AT&T in Colony Square. Satellite (Starlink, Viasat, HughesNet) also covers the area. Availability is tracked by census block, so confirm your exact address on the FCC National Broadband Map.