Is Broad Ripple, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Broad Ripple is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Broad Ripple, IN

How much do homes in Broad Ripple, IN cost?

Median Sold Price

$341,000

$164/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$5,000(+1.5%)

Key Takeaway

Homes in Broad Ripple have sold for 1.5% more than they did a year ago.

Summary: The median home sold price in Broad Ripple was $341,000 in October 2024, up 1.5% from last year, and the median price per square foot was $164.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$222.5K
N/A
2 $308.5K$310K
0.5%
3 $360K$381.5K
+6.0%
4 $360K$400K
+11.1%
5+ $559.7K$544.5K
-2.7%

Summary: Broad Ripple 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 0.5%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes decreased by 2.7%.

Housing Supply in Broad Ripple, IN

How many homes are available in Broad Ripple, IN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4955+12.2%

Summary: The Broad Ripple real estate market had 55 homes for sale in October 2024, a 12.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 10
-100.0%
2 2223
+4.5%
3 1821
+16.7%
4 811
+37.5%
5+ 00
0.0%

Summary: The Broad Ripple housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 4.5%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1114+27.3%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Broad Ripple, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.

Summary: A total of 14 homes were sold or pending in Broad Ripple in October 2024, up by 27.3% month-over-month. Of the 14 sold homes, 71% were sold under asking, 14% were sold at asking, and 14% were sold over asking.

Days on Market for Broad Ripple, IN

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

Average Sale Time

Oct 2023Oct 2024CHANGE
17 Days19 Days+14.7%

Summary: Homes in Broad Ripple had an average of 19 days on market in Oct 2024, up by 14.7% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 14 homes were sold in Broad Ripple; 93% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 7% 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 20 Days Ago

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