Is 47987, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 47987 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 47987 has remained a Seller's Market.

Key Takeaway

47987 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 47987, IN

How much do homes in 47987, IN cost?

Median Sold Price

$154,000

$103/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$14,000(+10.0%)

Key Takeaway

Homes in 47987 have sold for 10% more than they did a year ago.

Summary: The median home sold price in 47987 was $154,000 in October 2024, up 10% from last year, and the median price per square foot was $103.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$15K
N/A
2 $89K$128K
+43.8%
3 $140K$183.7K
+31.3%
4 $189.5K$178.5K
-5.8%
5+ -$225K
N/A

Summary: 47987 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 43.8%, 3 bedroom homes increased by 31.3%, 4 bedroom homes decreased by 5.8%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

47987
+10.0%
47932
+6.4%

Housing Supply in 47987, IN

How many homes are available in 47987, IN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1922+15.8%

Summary: The 47987 real estate market had 22 homes for sale in October 2024, a 15.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 56
+20.0%
3 1112
+9.1%
4 34
+33.3%
5+ 00
0.0%

Summary: The 47987 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 20%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
37+133.3%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 47987, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in 47987 in October 2024, up by 133.3% month-over-month. Of the 7 sold homes, 57% were sold under asking, 14% were sold at asking, and 29% were sold over asking.

Days on Market for 47987, IN

How long does it take to sell a home in 47987, IN?

Average Sale Time

Oct 2023Oct 2024CHANGE
5 Days17 Days+246.7%

Summary: Homes in 47987 had an average of 17 days on market in Oct 2024, up by 246.7% compared to last year.

Breakdown of Home Sale Times

5 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 47987 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 7 homes were sold in 47987; 71% of homes were sold within 30 days, 14% 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 21 Days Ago

Newest Listings in 47987, IN

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