Is 47424, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 47424 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 47424 has remained a Seller's Market.

Key Takeaway

47424 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 47424, IN

How much do homes in 47424, IN cost?

Median Sold Price

$223,950

$130/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$28,950(+14.8%)

Key Takeaway

Homes in 47424 have sold for 14.8% more than they did a year ago.

Summary: The median home sold price in 47424 was $223,950 in October 2024, up 14.8% from last year, and the median price per square foot was $130.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $108K$236.4K
+118.9%
3 $195K$173.5K
-11.0%
4 $318.7K$412.4K
+29.4%
5+ -$562.5K
N/A

Summary: 47424 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 118.9%, 3 bedroom homes decreased by 11%, 4 bedroom homes increased by 29.4%, and 5+ bedroom homes did not change.

Housing Supply in 47424, IN

How many homes are available in 47424, IN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2933+13.8%

Summary: The 47424 real estate market had 33 homes for sale in October 2024, a 13.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 710
+42.9%
3 1114
+27.3%
4 66
0.0%
5+ 42
-50.0%

Summary: The 47424 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 42.9%, 3 bedroom homes increased by 27.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
69+50.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 47424, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 9 homes were sold or pending in 47424 in October 2024, up by 50.0% month-over-month. Of the 8 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.

Days on Market for 47424, IN

How long does it take to sell a home in 47424, IN?

Average Sale Time

Oct 2023Oct 2024CHANGE
325 Days10 Days-96.9%

Summary: Homes in 47424 had an average of 10 days on market in Oct 2024, down by 96.9% compared to last year.

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 47424 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 9 homes were sold in 47424; 11% 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 23 Days Ago

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