Is 47408, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 47408 is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, 47408 was a Neutral Market.

Key Takeaway

47408 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 47408, IN

How much do homes in 47408, IN cost?

Median Sold Price

$360,000

$187/sqft

Based on all homes sold in November 2024.

Difference Since Last Month

+$25,000(+7.5%)

Key Takeaway

Homes in 47408 have sold for 7.5% more than they did a month ago.

Summary: The median home sold price in 47408 was $360,000 in November 2024, up 7.5% from last month, and the median price per square foot was $187.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 $167K$167K
0.0%
2 -$170K
N/A
3 $481.3K$283.7K
-41.1%
4 $335K$555K
+65.7%
5+ --
N/A

Summary: 47408 housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 41.1%, 4 bedroom homes increased by 65.7%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

47408
+7.5%
47404
+7.1%

Housing Supply in 47408, IN

How many homes are available in 47408, IN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
6457-10.9%

Summary: The 47408 real estate market had 57 homes for sale in November 2024, a 10.9% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 21
-50.0%
2 55
0.0%
3 2623
-11.5%
4 2219
-13.6%
5+ 99
0.0%

Summary: The 47408 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 11.5%, 4 bedroom homes decreased by 13.6%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1118+63.6%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 47408, you may be able to get a good deal. 72.2% of homes here sold below asking price last month.

Summary: A total of 18 homes were sold or pending in 47408 in November 2024, up by 63.6% month-over-month. Of the 18 sold homes, 72% were sold under asking, 11% were sold at asking, and 17% were sold over asking.

Days on Market for 47408, IN

How long does it take to sell a home in 47408, IN?

Average Sale Time

Oct 2024Nov 2024CHANGE
22 Days20 Days-8.1%

Summary: Homes in 47408 had an average of 20 days on market in Nov 2024, down by 8.1% compared to last month.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 47408 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 18 homes were sold in 47408; 11% of homes were sold within 30 days, 6% 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 47408, IN

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