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

Last month, Marion was a Buyer'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

$145,000

$87/sqft

Based on all homes sold in August 2024.

Difference Since Last Month

+$54,500(+60.2%)

Key Takeaway

Homes in Marion have sold for 60.2% more than they did a month ago.

Summary: The median home sold price in Marion was $145,000 in August 2024, up 60.2% from last month, and the median price per square foot was $87.

Median Sold Price By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 -$22.5K
N/A
2 $29.1K-
N/A
3 $144.1K$137.4K
-4.6%
4 $285K$240.5K
-15.6%
5+ $35K$75K
+114.3%

Summary: Marion housing prices by bedroom type for August 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 4.6%, 4 bedroom homes decreased by 15.6%, and 5+ bedroom homes increased by 114.3%.

Median Sold Price Compared To Nearby Cities

Center Township
+234.2%
Marion
+60.2%
Mill Township
-42.0%

Housing Supply in Marion, IN

How many homes are available in Marion, IN?

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
5889+53.4%

Summary: The Marion real estate market had 89 homes for sale in August 2024, a 53.4% increase compared to July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 23
+50.0%
2 1216
+33.3%
3 2844
+57.1%
4 1223
+91.7%
5+ 43
-25.0%

Summary: The Marion housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 57.1%, 4 bedroom homes increased by 91.7%, and 5+ bedroom homes decreased by 25%.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
618+200.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Marion, expect to pay close to the asking price. 38.9% of homes here sold near the asking price last month.

Summary: A total of 18 homes were sold or pending in Marion in August 2024, up by 200.0% month-over-month. Of the 18 sold homes, 33% were sold under asking, 39% were sold at asking, and 28% 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

Jul 2024Aug 2024CHANGE
133 Days32 Days-76.0%

Summary: Homes in Marion had an average of 32 days on market in Aug 2024, down by 76% compared to last month.

Breakdown of Home Sale Times

1 Home Was 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

Avg time on Rocket Homes in Marion has remained consistent over time.

Summary: During August 2024, 18 homes were sold in Marion; 6% of homes were sold within 30 days, 11% 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 13 Days Ago

Newest Listings in Marion, IN

Nearby Markets to Marion, IN

What housing markets are near Marion, IN?