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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Marion is a seller's market

Buyer's
Market

Difference Since Last Month

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

Key Takeaway

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

Housing Prices in Marion, IN

How much do homes in Marion, IN cost?

Median Sold Price

$129,900

$77/sqft

Based on all homes sold in February 2024.

Difference Since Last Month

+$5,400(+4.3%)

Key Takeaway

Homes in Marion have sold for 4.3% more than they did a month ago.

Summary: The median home sold price in Marion was $129,900 in February 2024, up 4.3% from last month, and the median price per square foot was $77.

Median Sold Price By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 $32K$15K
-53.1%
2 $87.9K$137.4K
+56.3%
3 $126.7K$110.7K
-12.7%
4 $205K$237.9K
+16.0%
5+ $395K-
N/A

Summary: Marion housing prices by bedroom type for February 2024 compared to the previous month: The home price of 1 bedroom homes decreased by 53.1%, 2 bedroom homes increased by 56.3%, 3 bedroom homes decreased by 12.7%, 4 bedroom homes increased by 16%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Franklin Township
+28.6%
Center Township
+12.6%
Marion
+4.3%
Washington Township
+2.9%
Mill Township
-32.5%

Housing Supply in Marion, IN

How many homes are available in Marion, IN?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
135147+8.9%

Summary: The Marion real estate market had 147 homes for sale in February 2024, a 8.9% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 32
-33.3%
2 3028
-6.7%
3 6974
+7.2%
4 2939
+34.5%
5+ 44
0.0%

Summary: The Marion housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 6.7%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 34.5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
3039+30.0%

Asking Price vs. Sold Price

18 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Marion, you may be able to get a good deal. 48.6% of homes here sold below asking price last month.

Summary: A total of 39 homes were sold or pending in Marion in February 2024, up by 30.0% month-over-month. Of the 37 sold homes, 49% were sold under asking, 24% were sold at asking, and 27% were sold over asking.

Days on Market for Marion, IN

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

Average Sale Time

Jan 2024Feb 2024CHANGE
79 Days14 Days-82.0%

Summary: Homes in Marion had an average of 14 days on market in Feb 2024, down by 82% compared to last month.

Breakdown of Home Sale Times

4 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 Marion are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 39 homes were sold in Marion; 10% of homes were sold within 30 days, 3% 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 27 Days Ago

Newest Listings in Marion, IN

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