Is 47227, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 47227 is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, 47227 has remained a Seller's Market.

Key Takeaway

47227 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 47227, IN

How much do homes in 47227, IN cost?

Median Sold Price

$192,500

$94/sqft

Based on all homes sold in April 2024.

Difference Since Last Month

-$32,500(-14.4%)

Key Takeaway

Homes in 47227 have sold for 14.4% less than they did a month ago.

Summary: The median home sold price in 47227 was $192,500 in April 2024, down 14.4% from last month, and the median price per square foot was $94.

Median Sold Price By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 --
N/A
2 -$185K
N/A
3 $170K$200K
+17.6%
4 $255K-
N/A
5+ --
N/A

Summary: 47227 housing prices by bedroom type for April 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 increased by 17.6%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in 47227, IN

How many homes are available in 47227, IN?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
63-50.0%

Summary: The 47227 real estate market had 3 homes for sale in April 2024, a 50.0% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 22
0.0%
3 31
-66.7%
4 10
-100.0%
5+ 00
0.0%

Summary: The 47227 housing inventory by bedroom type for April 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 66.7%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
32-33.3%

Asking Price vs. Sold Price

1 Home Was 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 47227, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in 47227 in April 2024, down by 33.3% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.

Days on Market for 47227, IN

How long does it take to sell a home in 47227, IN?

Average Sale Time

Mar 2024Apr 2024CHANGE
16 Days103 Days+543.8%

Summary: Homes in 47227 had an average of 103 days on market in Apr 2024, up by 543.8% compared to last month.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in 47227 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During April 2024, 2 homes were sold in 47227; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% 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

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