Is New Palestine, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing New Palestine is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, New Palestine has remained a Seller's Market.

Key Takeaway

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

Housing Prices in New Palestine, IN

How much do homes in New Palestine, IN cost?

Median Sold Price

$361,000

$156/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$1,100(+0.3%)

Key Takeaway

The sold price of homes in New Palestine has remained the same since last year.

Summary: The median home sold price in New Palestine was $361,000 in April 2024, up 0.3% from last year, and the median price per square foot was $156.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 --
N/A
2 $300.4K$336.9K
+12.2%
3 $335K$339.7K
+1.4%
4 $386K$400K
+3.6%
5+ $409.4K$415.9K
+1.6%

Summary: New Palestine housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 12.2%, 3 bedroom homes increased by 1.4%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 1.6%.

Median Sold Price Compared To Nearby Cities

New Palestine
0.3%
Sugar Creek Township
0%

Housing Supply in New Palestine, IN

How many homes are available in New Palestine, IN?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
5767+17.5%

Summary: The New Palestine real estate market had 67 homes for sale in April 2024, a 17.5% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 45
+25.0%
3 2420
-16.7%
4 2029
+45.0%
5+ 913
+44.4%

Summary: The New Palestine 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 increased by 25%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes increased by 45%, and 5+ bedroom homes increased by 44.4%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
1020+100.0%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New Palestine, you may be able to get a good deal. 55% of homes here sold below asking price last month.

Summary: A total of 20 homes were sold or pending in New Palestine in April 2024, up by 100.0% month-over-month. Of the 20 sold homes, 55% were sold under asking, 25% were sold at asking, and 20% were sold over asking.

Days on Market for New Palestine, IN

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

Average Sale Time

Apr 2023Apr 2024CHANGE
44 Days31 Days-29.4%

Summary: Homes in New Palestine had an average of 31 days on market in Apr 2024, down by 29.4% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 20 homes were sold in New Palestine; 65% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 10% 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 New Palestine, IN

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