Is Needham Township, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Needham Township is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Needham Township has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Needham Township, IN

How much do homes in Needham Township, IN cost?

Median Sold Price

$315,000

$166/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$21,500(+7.3%)

Key Takeaway

Homes in Needham Township have sold for 7.3% more than they did a year ago.

Summary: The median home sold price in Needham Township was $315,000 in May 2024, up 7.3% from last year, and the median price per square foot was $166.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $260K$270K
+3.8%
3 $257K$275K
+7.0%
4 $332.4K$362.2K
+9.0%
5+ $366K$497.5K
+35.9%

Summary: Needham Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 9%, and 5+ bedroom homes increased by 35.9%.

Median Sold Price Compared To Nearby Cities

Franklin Township
+8.4%
Needham Township
+7.3%
Franklin
+6.3%

Housing Supply in Needham Township, IN

How many homes are available in Needham Township, IN?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3028-6.7%

Summary: The Needham Township real estate market had 28 homes for sale in May 2024, a 6.7% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 44
0.0%
3 1613
-18.8%
4 89
+12.5%
5+ 22
0.0%

Summary: The Needham Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 18.8%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
129-25.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Needham Township, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in Needham Township in May 2024, down by 25.0% month-over-month. Of the 9 sold homes, 56% were sold under asking, 11% were sold at asking, and 33% were sold over asking.

Days on Market for Needham Township, IN

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

Average Sale Time

May 2023May 2024CHANGE
76 Days58 Days-22.9%

Summary: Homes in Needham Township had an average of 58 days on market in May 2024, down by 22.9% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 9 homes were sold in Needham Township; 44% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 22% 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 1 Day Ago

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