Is 47448, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 47448 is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 47448 was a Seller's Market.

Key Takeaway

47448 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 47448, IN

How much do homes in 47448, IN cost?

Median Sold Price

$356,000

$174/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$21,000(+6.3%)

Key Takeaway

Homes in 47448 have sold for 6.3% more than they did a year ago.

Summary: The median home sold price in 47448 was $356,000 in October 2024, up 6.3% from last year, and the median price per square foot was $174.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $280K$190K
-32.1%
2 $266.2K$348.5K
+30.9%
3 $380K$350K
-7.9%
4 $312.5K$660K
+111.2%
5+ $1.1M$220K
-80.0%

Summary: 47448 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 32.1%, 2 bedroom homes increased by 30.9%, 3 bedroom homes decreased by 7.9%, 4 bedroom homes increased by 111.2%, and 5+ bedroom homes decreased by 80%.

Median Sold Price Compared To Nearby Zip Codes

46160
+9.5%
47448
+6.3%
46164
+5.1%

Housing Supply in 47448, IN

How many homes are available in 47448, IN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
6062+3.3%

Summary: The 47448 real estate market had 62 homes for sale in October 2024, a 3.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 42
-50.0%
2 2323
0.0%
3 2223
+4.5%
4 1013
+30.0%
5+ 11
0.0%

Summary: The 47448 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes remained the same, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 30%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
149-35.7%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 47448, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in 47448 in October 2024, down by 35.7% month-over-month. Of the 8 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.

Days on Market for 47448, IN

How long does it take to sell a home in 47448, IN?

Average Sale Time

Oct 2023Oct 2024CHANGE
14 Days37 Days+166.6%

Summary: Homes in 47448 had an average of 37 days on market in Oct 2024, up by 166.6% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 47448 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 9 homes were sold in 47448; 44% of homes were sold within 30 days, 33% 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 22 Days Ago

Newest Listings in 47448, IN

Nearby Markets to 47448, IN