Is 47401, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 47401 is a neutral's market

Buyer's
Market

Difference Since April 2023

At the same time last year, 47401 was a Seller's Market.

Key Takeaway

47401 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 47401, IN

How much do homes in 47401, IN cost?

Median Sold Price

$357,750

$182/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$69,750(+24.2%)

Key Takeaway

Homes in 47401 have sold for 24.2% more than they did a year ago.

Summary: The median home sold price in 47401 was $357,750 in April 2024, up 24.2% from last year, and the median price per square foot was $182.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $120K$139.9K
+16.6%
2 $165K$181.5K
+10.0%
3 $283.5K$292.5K
+3.2%
4 $492.5K$450K
-8.6%
5+ $727K$750K
+3.2%

Summary: 47401 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.6%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 3.2%, 4 bedroom homes decreased by 8.6%, and 5+ bedroom homes increased by 3.2%.

Housing Supply in 47401, IN

How many homes are available in 47401, IN?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
77125+62.3%

Summary: The 47401 real estate market had 125 homes for sale in April 2024, a 62.3% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 12
+100.0%
2 1526
+73.3%
3 2640
+53.8%
4 2642
+61.5%
5+ 915
+66.7%

Summary: The 47401 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 73.3%, 3 bedroom homes increased by 53.8%, 4 bedroom homes increased by 61.5%, and 5+ bedroom homes increased by 66.7%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
520+300.0%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 47401, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 20 homes were sold or pending in 47401 in April 2024, up by 300.0% month-over-month. Of the 20 sold homes, 60% were sold under asking, 35% were sold at asking, and 5% were sold over asking.

Days on Market for 47401, IN

How long does it take to sell a home in 47401, IN?

Average Sale Time

Apr 2023Apr 2024CHANGE
18 Days19 Days+7.4%

Summary: Homes in 47401 had an average of 19 days on market in Apr 2024, up by 7.4% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 47401 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 20 homes were sold in 47401; 10% of homes were sold within 30 days, 5% 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 3 Days Ago

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