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

862 Franklin Trace

Zionsville, IN 46077
4 bd 2.5 ba 2,776 sq ft 1990
Est. today $548,000
Last Sold May 2013: $290,000

871 Franklin Trace

Zionsville, IN 46077
4 bd 2.5 ba 2,660 sq ft 1991
Est. today $625,000
Last Sold Aug 2018: $380,000

872 Franklin Trace

Zionsville, IN 46077
3 bd 2.5 ba 2,814 sq ft 1991
Est. today $734,000
Last Sold Sep 2017: $385,000

881 Franklin Trace

Zionsville, IN 46077
4 bd 2.5 ba 2,428 sq ft 1990
Est. today $506,000
Last Sold Jun 2015: $299,000

882 Franklin Trace

Zionsville, IN 46077
3 bd 2.5 ba 2,425 sq ft 1990
Est. today $469,000
Assessed Value: $405,400

911 Franklin Trace

Zionsville, IN 46077
4 bd 3.5 ba 2,666 sq ft 1992 0.55 ac
Est. today $711,000
Assessed Value: $613,900

912 Franklin Trace

Zionsville, IN 46077
4 bd 2.5 ba 2,512 sq ft 1991 0.59 ac
Est. today $742,000
Last Sold Aug 2022: $550,000

922 Franklin Trace

Zionsville, IN 46077
4 bd 2 ba 2,112 sq ft 1991
Est. today $553,000
Assessed Value: $477,900

931 Franklin Trace

Zionsville, IN 46077
3 bd 2 ba 1,977 sq ft 1992
Est. today $455,000
Assessed Value: $392,700

932 Franklin Trace

Zionsville, IN 46077
4 bd 2.5 ba 2,619 sq ft 1990
Est. today $654,000
Last Sold Jul 2023: $502,000

941 Franklin Trace

Zionsville, IN 46077
3 bd 2 ba 2,210 sq ft 1991 0.58 ac
Est. today $516,000
Last Sold Aug 2018: $300,000

942 Franklin Trace

Zionsville, IN 46077
4 bd 3 ba 2,306 sq ft 1990 0.57 ac
Est. today $651,000
Last Sold Jun 2018: $399,900

952 Franklin Trace

Zionsville, IN 46077
3 bd 2.5 ba 2,440 sq ft 1990 0.75 ac
Est. today $632,000
Last Sold Jan 2021: $418,000

961 Franklin Trace

Zionsville, IN 46077
4 bd 2.5 ba 2,566 sq ft 1990 0.91 ac
Est. today $620,000
Assessed Value: $535,000

962 Franklin Trace

Zionsville, IN 46077
4 bd 2.5 ba 2,652 sq ft 1991 0.71 ac
Est. today $639,000
Last Sold Jul 2022: $480,000

972 Franklin Trace

Zionsville, IN 46077
4 bd 2.5 ba 2,688 sq ft 1991 0.89 ac
Est. today $676,000
Last Sold Jun 2017: $389,000

981 Franklin Trace

Zionsville, IN 46077
4 bd 2.5 ba 3,092 sq ft 1997
Est. today $734,000
Assessed Value: $633,500

982 Franklin Trace

Zionsville, IN 46077
4 bd 3.5 ba 2,524 sq ft 1990 0.55 ac
Est. today $626,000
Last Sold Jul 2015: $335,500

991 Franklin Trace

Zionsville, IN 46077
4 bd 2.5 ba 2,642 sq ft 1990
Est. today $633,000
Last Sold Mar 2012: $267,000

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.