$4,393 Closing Credit*
$369,900
4,134 SqFt
3 Beds
•2 Full Baths
Donna Tewmey, Listing Office: RE/MAX Tower
Is 47240, IN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 47240 has remained a Seller's Market.
Key Takeaway
47240 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 47240, IN
How much do homes in 47240, IN cost?
Median Sold Price
$215,000
$127/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$11,000(+5.4%)
Key Takeaway
Homes in 47240 have sold for 5.4% more than they did a year ago.
Summary: The median home sold price in 47240 was $215,000 in October 2024, up 5.4% from last year, and the median price per square foot was $127.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $58.5K | $69.9K | +19.5% |
| 2 Bedrooms | $145.5K | $155K | +6.5% |
| 3 Bedrooms | $205K | $215.5K | +5.1% |
| 4 Bedrooms | $257.4K | $311.5K | +21.0% |
| 5+ Bedrooms | $393.7K | $379K | -3.7% |
Summary: 47240 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.5%, 2 bedroom homes increased by 6.5%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 21%, and 5+ bedroom homes decreased by 3.7%.
Median Sold Price Compared To Nearby Zip Codes
| 47240 | $204K | $215K | +5.4% |
| 47272 | $176.2K | $152.5K | -13.5% |
Housing Supply in 47240, IN
How many homes are available in 47240, IN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 78 | 67 | -14.1% |
Summary: The 47240 real estate market had 67 homes for sale in October 2024, a 14.1% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 13 | 14 | +7.7% |
| 3 Bedrooms | 38 | 30 | -21.1% |
| 4 Bedrooms | 18 | 14 | -22.2% |
| 5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The 47240 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 7.7%, 3 bedroom homes decreased by 21.1%, 4 bedroom homes decreased by 22.2%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 25 | 15 | -40.0% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 47240, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in 47240 in October 2024, down by 40.0% month-over-month. Of the 15 sold homes, 67% were sold under asking, 13% were sold at asking, and 20% were sold over asking.
Days on Market for 47240, IN
How long does it take to sell a home in 47240, IN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 28 Days | 35 Days | +25.6% |
Summary: Homes in 47240 had an average of 35 days on market in Oct 2024, up by 25.6% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 47240 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 15 homes were sold in 47240; 67% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
Listings courtesy of Metropolitan Indianapolis Board of REALTORS® MLS as distributed by MLS GRID.