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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Marion is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Marion has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Marion, IN

How much do homes in Marion, IN cost?

Median Sold Price

$120,000

$87/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

-$46,450(-27.9%)

Key Takeaway

Homes in Marion have sold for 27.9% less than they did a month ago.

Summary: The median home sold price in Marion was $120,000 in October 2024, down 27.9% from last month, and the median price per square foot was $87.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 $176.5K-
N/A
2 $155K$73K
-52.9%
3 $158K$128K
-19.0%
4 $217K$196.4K
-9.5%
5+ $449K$259.9K
-42.1%

Summary: Marion housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 52.9%, 3 bedroom homes decreased by 19%, 4 bedroom homes decreased by 9.5%, and 5+ bedroom homes decreased by 42.1%.

Median Sold Price Compared To Nearby Cities

Washington Township
-9.4%
Franklin Township
-12.1%
Mill Township
-15.8%
Marion
-27.9%
Center Township
-31.2%

Housing Supply in Marion, IN

How many homes are available in Marion, IN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
162169+4.3%

Summary: The Marion real estate market had 169 homes for sale in October 2024, a 4.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 21
-50.0%
2 2934
+17.2%
3 9398
+5.4%
4 3331
-6.1%
5+ 55
0.0%

Summary: The Marion 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 increased by 17.2%, 3 bedroom homes increased by 5.4%, 4 bedroom homes decreased by 6.1%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3847+23.7%

Asking Price vs. Sold Price

25 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Marion, you may be able to get a good deal. 53.2% of homes here sold below asking price last month.

Summary: A total of 47 homes were sold or pending in Marion in October 2024, up by 23.7% month-over-month. Of the 47 sold homes, 53% were sold under asking, 23% were sold at asking, and 23% were sold over asking.

Days on Market for Marion, IN

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

Breakdown of Home Sale Times

1 Home Was 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 Marion are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 47 homes were sold in Marion; 2% of homes were sold within 30 days, 2% 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 16 Days Ago

Newest Listings in Marion, IN

Nearby Markets to Marion, IN

What housing markets are near Marion, IN?