Is Muncie, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Muncie is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Muncie has remained a Seller's Market.

Key Takeaway

Muncie is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Muncie, IN

How much do homes in Muncie, IN cost?

Median Sold Price

$134,300

$90/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$17,300(+14.8%)

Key Takeaway

Homes in Muncie have sold for 14.8% more than they did a year ago.

Summary: The median home sold price in Muncie was $134,300 in May 2024, up 14.8% from last year, and the median price per square foot was $90.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $125K$50K
-60.0%
2 $70K$78K
+11.4%
3 $126.9K$153.5K
+21.0%
4 $188K$182K
-3.2%
5+ $230K$202K
-12.2%

Summary: Muncie housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 60%, 2 bedroom homes increased by 11.4%, 3 bedroom homes increased by 21%, 4 bedroom homes decreased by 3.2%, and 5+ bedroom homes decreased by 12.2%.

Median Sold Price Compared To Nearby Cities

Muncie
+14.8%
Yorktown
+7.0%
Center Township
0.3%
Hamilton Township
-19.6%

Housing Supply in Muncie, IN

How many homes are available in Muncie, IN?

Number of Homes For Sale

Apr 2024May 2024CHANGE
139198+42.4%

Summary: The Muncie real estate market had 198 homes for sale in May 2024, a 42.4% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 24
+100.0%
2 4057
+42.5%
3 7298
+36.1%
4 1627
+68.8%
5+ 912
+33.3%

Summary: The Muncie housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 42.5%, 3 bedroom homes increased by 36.1%, 4 bedroom homes increased by 68.8%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Apr 2024May 2024CHANGE
2147+123.8%

Asking Price vs. Sold Price

24 Homes Were Sold
Under Asking

13 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Muncie, you may be able to get a good deal. 51.1% of homes here sold below asking price last month.

Summary: A total of 47 homes were sold or pending in Muncie in May 2024, up by 123.8% month-over-month. Of the 47 sold homes, 51% were sold under asking, 28% were sold at asking, and 21% were sold over asking.

Days on Market for Muncie, IN

How long does it take to sell a home in Muncie, IN?

Average Sale Time

May 2023May 2024CHANGE
52 Days33 Days-36.2%

Summary: Homes in Muncie had an average of 33 days on market in May 2024, down by 36.2% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Muncie are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 47 homes were sold in Muncie; 43% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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