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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mitchell is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, Mitchell was a Buyer's Market.

Key Takeaway

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

Housing Prices in Mitchell, IN

How much do homes in Mitchell, IN cost?

Median Sold Price

$185,000

$120/sqft

Based on all homes sold in March 2024.

Difference Since Last Month

-$105,900(-36.4%)

Key Takeaway

Homes in Mitchell have sold for 36.4% less than they did a month ago.

Summary: The median home sold price in Mitchell was $185,000 in March 2024, down 36.4% from last month, and the median price per square foot was $120.

Median Sold Price By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 --
N/A
2 -$40K
N/A
3 $290.9K$185K
-36.4%
4 -$210K
N/A
5+ --
N/A

Summary: Mitchell housing prices by bedroom type for March 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 36.4%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in Mitchell, IN

How many homes are available in Mitchell, IN?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
1113+18.2%

Summary: The Mitchell real estate market had 13 homes for sale in March 2024, a 18.2% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 33
0.0%
3 76
-14.3%
4 13
+200.0%
5+ 01
+100.0%

Summary: The Mitchell housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 14.3%, 4 bedroom homes increased by 200%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
15+400.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

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

Summary: A total of 5 homes were sold or pending in Mitchell in March 2024, up by 400.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 40% were sold at asking, and 0% were sold over asking.

Days on Market for Mitchell, IN

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

Average Sale Time

Feb 2024Mar 2024CHANGE
76 Days16 Days-78.9%

Summary: Homes in Mitchell had an average of 16 days on market in Mar 2024, down by 78.9% compared to last month.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 5 homes were sold in Mitchell; 20% of homes were sold within 30 days, 0% 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 18 Days Ago

Newest Listings in Mitchell, IN

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What housing markets are near Mitchell, IN?