Is New Palestine, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing New Palestine is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in New Palestine, IN

How much do homes in New Palestine, IN cost?

Median Sold Price

$365,000

$157/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$1,000(+0.3%)

Key Takeaway

The sold price of homes in New Palestine has remained the same since last year.

Summary: The median home sold price in New Palestine was $365,000 in November 2024, up 0.3% from last year, and the median price per square foot was $157.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 --
N/A
2 $341K$329K
-3.5%
3 $338K$346.5K
+2.5%
4 $400K$394K
-1.5%
5+ $413.5K$405K
-2.1%

Summary: New Palestine housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3.5%, 3 bedroom homes increased by 2.5%, 4 bedroom homes decreased by 1.5%, and 5+ bedroom homes decreased by 2.1%.

Median Sold Price Compared To Nearby Cities

Sugar Creek Township
+2.4%
New Palestine
0.3%

Housing Supply in New Palestine, IN

How many homes are available in New Palestine, IN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
4948-2.0%

Summary: The New Palestine real estate market had 48 homes for sale in November 2024, a 2.0% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 43
-25.0%
3 2424
0.0%
4 1313
0.0%
5+ 88
0.0%

Summary: The New Palestine housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
209-55.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New Palestine, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in New Palestine in November 2024, down by 55.0% month-over-month. Of the 9 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.

Days on Market for New Palestine, IN

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

Average Sale Time

Nov 2023Nov 2024CHANGE
66 Days74 Days+10.7%

Summary: Homes in New Palestine had an average of 74 days on market in Nov 2024, up by 10.7% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 9 homes were sold in New Palestine; 44% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 33% 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

Newest Listings in New Palestine, IN

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