Is Broad Ripple, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Broad Ripple is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Broad Ripple, IN

How much do homes in Broad Ripple, IN cost?

Median Sold Price

$332,000

$160/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$12,000(+3.8%)

Key Takeaway

Homes in Broad Ripple have sold for 3.8% more than they did a year ago.

Summary: The median home sold price in Broad Ripple was $332,000 in March 2024, up 3.8% from last year, and the median price per square foot was $160.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $175.5K$195K
+11.1%
2 $291.2K$307.2K
+5.5%
3 $348.5K$360K
+3.3%
4 $425K$345K
-18.8%
5+ -$559.7K
N/A

Summary: Broad Ripple housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 5.5%, 3 bedroom homes increased by 3.3%, 4 bedroom homes decreased by 18.8%, and 5+ bedroom homes did not change.

Housing Supply in Broad Ripple, IN

How many homes are available in Broad Ripple, IN?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
3440+17.6%

Summary: The Broad Ripple real estate market had 40 homes for sale in March 2024, a 17.6% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 10
-100.0%
2 1116
+45.5%
3 1115
+36.4%
4 119
-18.2%
5+ 00
0.0%

Summary: The Broad Ripple housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 45.5%, 3 bedroom homes increased by 36.4%, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
911+22.2%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Broad Ripple, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in Broad Ripple in March 2024, up by 22.2% month-over-month. Of the 11 sold homes, 45% were sold under asking, 27% were sold at asking, and 27% were sold over asking.

Days on Market for Broad Ripple, IN

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

Average Sale Time

Mar 2023Mar 2024CHANGE
48 Days22 Days-54.0%

Summary: Homes in Broad Ripple had an average of 22 days on market in Mar 2024, down by 54% compared to last year.

Breakdown of Home Sale Times

9 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 Broad Ripple are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 11 homes were sold in Broad Ripple; 82% of homes were sold within 30 days, 18% 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 28 Days Ago

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