Is Garfield Park, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Garfield Park is a neutral's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

Garfield Park 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 Garfield Park, IN

How much do homes in Garfield Park, IN cost?

Median Sold Price

$190,000

$115/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$10,000(+5.6%)

Key Takeaway

Homes in Garfield Park have sold for 5.6% more than they did a year ago.

Summary: The median home sold price in Garfield Park was $190,000 in November 2024, up 5.6% from last year, and the median price per square foot was $115.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $109.9K$155K
+41.0%
2 $168K$175K
+4.2%
3 $197.5K$207.7K
+5.2%
4 $134.9K$378.9K
+180.8%
5+ $251.4K$285K
+13.3%

Summary: Garfield Park housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 41%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 180.8%, and 5+ bedroom homes increased by 13.3%.

Housing Supply in Garfield Park, IN

How many homes are available in Garfield Park, IN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
3028-6.7%

Summary: The Garfield Park real estate market had 28 homes for sale in November 2024, a 6.7% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 01
+100.0%
2 107
-30.0%
3 1310
-23.1%
4 59
+80.0%
5+ 21
-50.0%

Summary: The Garfield Park housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 30%, 3 bedroom homes decreased by 23.1%, 4 bedroom homes increased by 80%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
94-55.6%

Asking Price vs. Sold Price

2 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 Garfield Park, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in Garfield Park in November 2024, down by 55.6% month-over-month. Of the 4 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.

Days on Market for Garfield Park, IN

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

Average Sale Time

Nov 2023Nov 2024CHANGE
18 Days70 Days+287.4%

Summary: Homes in Garfield Park had an average of 70 days on market in Nov 2024, up by 287.4% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Garfield Park has remained consistent over time.

Summary: During November 2024, 4 homes were sold in Garfield Park; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% 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

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