Is 47872, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 47872 is a seller's market

Buyer's
Market

Difference Since April 2023

At the same time last year, 47872 was a Buyer's Market.

Key Takeaway

47872 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 47872, IN

How much do homes in 47872, IN cost?

Median Sold Price

$175,000

$89/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$14,000(+8.7%)

Key Takeaway

Homes in 47872 have sold for 8.7% more than they did a year ago.

Summary: The median home sold price in 47872 was $175,000 in April 2024, up 8.7% from last year, and the median price per square foot was $89.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $150K$80.2K
-46.5%
2 $110.5K$132.7K
+20.1%
3 $170.9K$197.9K
+15.8%
4 $309.2K$226.2K
-26.8%
5+ $125K$387.5K
+210.0%

Summary: 47872 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 46.5%, 2 bedroom homes increased by 20.1%, 3 bedroom homes increased by 15.8%, 4 bedroom homes decreased by 26.8%, and 5+ bedroom homes increased by 210%.

Housing Supply in 47872, IN

How many homes are available in 47872, IN?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
2926-10.3%

Summary: The 47872 real estate market had 26 homes for sale in April 2024, a 10.3% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 22
0.0%
2 75
-28.6%
3 129
-25.0%
4 47
+75.0%
5+ 43
-25.0%

Summary: The 47872 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 decreased by 28.6%, 3 bedroom homes decreased by 25%, 4 bedroom homes increased by 75%, and 5+ bedroom homes decreased by 25%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
46+50.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 47872, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in 47872 in April 2024, up by 50.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.

Days on Market for 47872, IN

How long does it take to sell a home in 47872, IN?

Average Sale Time

Apr 2023Apr 2024CHANGE
78 Days30 Days-61.8%

Summary: Homes in 47872 had an average of 30 days on market in Apr 2024, down by 61.8% compared to last year.

Breakdown of Home Sale Times

4 Homes Were 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

Many homes in 47872 are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 6 homes were sold in 47872; 67% of homes were sold within 30 days, 33% 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 2 Days Ago

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