Is 47348, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 47348 is a seller's market

Buyer's
Market

Difference Since November 2023

At the same time last year, 47348 was a Buyer's Market.

Key Takeaway

47348 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 47348, IN

How much do homes in 47348, IN cost?

Median Sold Price

$128,500

$88/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$40,750(+46.4%)

Key Takeaway

Homes in 47348 have sold for 46.4% more than they did a year ago.

Summary: The median home sold price in 47348 was $128,500 in November 2024, up 46.4% from last year, and the median price per square foot was $88.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $65K$24.5K
-62.3%
2 $46.7K$50.5K
+8.1%
3 $88K$149.4K
+69.8%
4 $210K$135K
-35.7%
5+ $235K$655K
+178.7%

Summary: 47348 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 62.3%, 2 bedroom homes increased by 8.1%, 3 bedroom homes increased by 69.8%, 4 bedroom homes decreased by 35.7%, and 5+ bedroom homes increased by 178.7%.

Housing Supply in 47348, IN

How many homes are available in 47348, IN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
6256-9.7%

Summary: The 47348 real estate market had 56 homes for sale in November 2024, a 9.7% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 33
0.0%
2 1110
-9.1%
3 3931
-20.5%
4 912
+33.3%
5+ 00
0.0%

Summary: The 47348 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 9.1%, 3 bedroom homes decreased by 20.5%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
12120.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 47348, you may be able to get a good deal. 63.6% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in 47348 in November 2024, the same as the previous month. Of the 11 sold homes, 64% were sold under asking, 9% were sold at asking, and 27% were sold over asking.

Days on Market for 47348, IN

How long does it take to sell a home in 47348, IN?

Average Sale Time

Nov 2023Nov 2024CHANGE
9 Days117 Days+1200.0%

Summary: Homes in 47348 had an average of 117 days on market in Nov 2024, up by 1200% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in 47348 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During November 2024, 12 homes were sold in 47348; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 8% 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 17 Days Ago

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