$30,000
0.24 Acres
Land
Linda Greiwe, Listing Office: Lohmiller Real Estate
Is 47240, IN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 47240 was a Seller's Market.
Key Takeaway
47240 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 47240, IN
How much do homes in 47240, IN cost?
Median Sold Price
$214,000
$132/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$7,333(+3.5%)
Key Takeaway
Homes in 47240 have sold for 3.5% more than they did a year ago.
Summary: The median home sold price in 47240 was $214,000 in November 2024, up 3.5% from last year, and the median price per square foot was $132.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $100K | $53.7K | -46.3% |
| 2 Bedrooms | $147.9K | $155K | +4.8% |
| 3 Bedrooms | $215K | $215K | 0.0% |
| 4 Bedrooms | $302.9K | $307.5K | +1.5% |
| 5+ Bedrooms | $425K | $394.7K | -7.1% |
Summary: 47240 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 46.3%, 2 bedroom homes increased by 4.8%, 3 bedroom homes did not change, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes decreased by 7.1%.
Median Sold Price Compared To Nearby Zip Codes
| 47240 | $206.6K | $214K | +3.5% |
| 46156 | $249K | $161K | -35.3% |
Housing Supply in 47240, IN
How many homes are available in 47240, IN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 61 | 57 | -6.6% |
Summary: The 47240 real estate market had 57 homes for sale in November 2024, a 6.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 13 | 9 | -30.8% |
| 3 Bedrooms | 29 | 34 | +17.2% |
| 4 Bedrooms | 12 | 10 | -16.7% |
| 5+ Bedrooms | 7 | 4 | -42.9% |
Summary: The 47240 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 30.8%, 3 bedroom homes increased by 17.2%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes decreased by 42.9%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 15 | 8 | -46.7% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 47240, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in 47240 in November 2024, down by 46.7% month-over-month. Of the 8 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 55 Days | 76 Days | +36.8% |
Summary: Homes in 47240 had an average of 76 days on market in Nov 2024, up by 36.8% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 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 November 2024, 8 homes were sold in 47240; 50% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.
Listings courtesy of Metropolitan Indianapolis Board of REALTORS® MLS as distributed by MLS GRID.