Is 47240, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 47240 is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, 47240 has remained a Seller's Market.

Key Takeaway

47240 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 47240, IN

How much do homes in 47240, IN cost?

Median Sold Price

$210,000

$127/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$20,000(+10.5%)

Key Takeaway

Homes in 47240 have sold for 10.5% more than they did a year ago.

Summary: The median home sold price in 47240 was $210,000 in March 2024, up 10.5% from last year, and the median price per square foot was $127.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $112K$100K
-10.7%
2 $128K$149.9K
+17.1%
3 $194K$219.4K
+13.1%
4 $353.5K$302.9K
-14.3%
5+ $399.9K$343.7K
-14.0%

Summary: 47240 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.7%, 2 bedroom homes increased by 17.1%, 3 bedroom homes increased by 13.1%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes decreased by 14%.

Median Sold Price Compared To Nearby Zip Codes

47272
+27.1%
47240
+10.5%

Housing Supply in 47240, IN

How many homes are available in 47240, IN?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
6067+11.7%

Summary: The 47240 real estate market had 67 homes for sale in March 2024, a 11.7% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 1012
+20.0%
3 3839
+2.6%
4 1114
+27.3%
5+ 12
+100.0%

Summary: The 47240 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
2015-25.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 47240, you may be able to get a good deal. 46.7% of homes here sold below asking price last month.

Summary: A total of 15 homes were sold or pending in 47240 in March 2024, down by 25.0% month-over-month. Of the 15 sold homes, 47% were sold under asking, 27% were sold at asking, and 27% were sold over asking.

Days on Market for 47240, IN

How long does it take to sell a home in 47240, IN?

Average Sale Time

Mar 2023Mar 2024CHANGE
67 Days47 Days-28.9%

Summary: Homes in 47240 had an average of 47 days on market in Mar 2024, down by 28.9% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 47240 are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 15 homes were sold in 47240; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% 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 27 Days Ago

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