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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Selma is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, Selma was a Buyer's Market.

Key Takeaway

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

Housing Prices in Selma, IN

How much do homes in Selma, IN cost?

Median Sold Price

$180,000

$96/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

-$330,000(-64.7%)

Key Takeaway

Homes in Selma have sold for 64.7% less than they did a month ago.

Summary: The median home sold price in Selma was $180,000 in October 2024, down 64.7% from last month, and the median price per square foot was $96.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 --
N/A
3 -$158.2K
N/A
4 $510K$180K
-64.7%
5+ -$390K
N/A

Summary: Selma 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 did not change, 3 bedroom homes did not change, 4 bedroom homes decreased by 64.7%, and 5+ bedroom homes did not change.

Housing Supply in Selma, IN

How many homes are available in Selma, IN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1315+15.4%

Summary: The Selma real estate market had 15 homes for sale in October 2024, a 15.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 22
0.0%
3 34
+33.3%
4 45
+25.0%
5+ 44
0.0%

Summary: The Selma housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
15+400.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Selma, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Selma in October 2024, up by 400.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% were sold over asking.

Days on Market for Selma, IN

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

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Selma has remained consistent over time.

Summary: During October 2024, 5 homes were sold in Selma; 20% of homes were sold within 30 days, 40% 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

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