Is 47401, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 47401 is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, 47401 has remained a Seller's Market.

Key Takeaway

47401 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 47401, IN

How much do homes in 47401, IN cost?

Median Sold Price

$300,000

$184/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

-$15,000(-4.8%)

Key Takeaway

Homes in 47401 have sold for 4.8% less than they did a month ago.

Summary: The median home sold price in 47401 was $300,000 in October 2024, down 4.8% from last month, and the median price per square foot was $184.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 -$169.5K
N/A
2 $210K$200K
-4.8%
3 $320K$300K
-6.3%
4 $535K$557K
+4.1%
5+ $700K$479K
-31.6%

Summary: 47401 housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 4.8%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes decreased by 31.6%.

Median Sold Price Compared To Nearby Zip Codes

47403
+4.5%
47401
-4.8%

Housing Supply in 47401, IN

How many homes are available in 47401, IN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
227232+2.2%

Summary: The 47401 real estate market had 232 homes for sale in October 2024, a 2.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 510
+100.0%
2 5553
-3.6%
3 9697
+1.0%
4 5154
+5.9%
5+ 2018
-10.0%

Summary: The 47401 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 3.6%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes decreased by 10%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
4741-12.8%

Asking Price vs. Sold Price

29 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 47401, you may be able to get a good deal. 72.5% of homes here sold below asking price last month.

Summary: A total of 41 homes were sold or pending in 47401 in October 2024, down by 12.8% month-over-month. Of the 40 sold homes, 73% were sold under asking, 10% were sold at asking, and 18% were sold over asking.

Days on Market for 47401, IN

How long does it take to sell a home in 47401, IN?

Average Sale Time

Sep 2024Oct 2024CHANGE
37 Days7 Days-81.5%

Summary: Homes in 47401 had an average of 7 days on market in Oct 2024, down by 81.5% compared to last month.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 47401 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 41 homes were sold in 47401; 2% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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

Newest Listings in 47401, IN

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