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 September 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

$195,000

$115/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$17,500(+9.9%)

Key Takeaway

Homes in Garfield Park have sold for 9.9% more than they did a year ago.

Summary: The median home sold price in Garfield Park was $195,000 in September 2024, up 9.9% from last year, and the median price per square foot was $115.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $109.9K$155K
+41.0%
2 $177.5K$175K
-1.4%
3 $180K$215K
+19.4%
4 $139.9K$382.9K
+173.8%
5+ $237.9K$265K
+11.4%

Summary: Garfield Park housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 41%, 2 bedroom homes decreased by 1.4%, 3 bedroom homes increased by 19.4%, 4 bedroom homes increased by 173.8%, and 5+ bedroom homes increased by 11.4%.

Housing Supply in Garfield Park, IN

How many homes are available in Garfield Park, IN?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
3632-11.1%

Summary: The Garfield Park real estate market had 32 homes for sale in September 2024, a 11.1% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 1311
-15.4%
3 1616
0.0%
4 65
-16.7%
5+ 10
-100.0%

Summary: The Garfield Park housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 15.4%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
125-58.3%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was 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. 80% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Garfield Park in September 2024, down by 58.3% month-over-month. Of the 5 sold homes, 80% were sold under asking, 20% 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

Sep 2023Sep 2024CHANGE
14 Days13 Days-6.5%

Summary: Homes in Garfield Park had an average of 13 days on market in Sep 2024, down by 6.5% compared to last year.

Breakdown of Home Sale Times

5 Homes Were 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 Garfield Park are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 5 homes were sold in Garfield Park; 100% 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 Sep 1, 2024

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