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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Shelbyville is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Shelbyville, IN

How much do homes in Shelbyville, IN cost?

Median Sold Price

$203,375

$126/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$18,375(+9.9%)

Key Takeaway

Homes in Shelbyville have sold for 9.9% more than they did a year ago.

Summary: The median home sold price in Shelbyville was $203,375 in March 2024, up 9.9% from last year, and the median price per square foot was $126.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 --
N/A
2 $125K$145.5K
+16.4%
3 $190K$210K
+10.5%
4 $250K$249.9K
0%
5+ $361.8K$390K
+7.8%

Summary: Shelbyville housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 16.4%, 3 bedroom homes increased by 10.5%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 7.8%.

Median Sold Price Compared To Nearby Cities

Brandywine Township
+38.9%
Shelbyville
+9.9%
Addison Township
0.0%
Marion Township
-61.1%

Housing Supply in Shelbyville, IN

How many homes are available in Shelbyville, IN?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
7977-2.5%

Summary: The Shelbyville real estate market had 77 homes for sale in March 2024, a 2.5% decrease compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 1716
-5.9%
3 3734
-8.1%
4 1617
+6.3%
5+ 910
+11.1%

Summary: The Shelbyville 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 decreased by 5.9%, 3 bedroom homes decreased by 8.1%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 11.1%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
2024+20.0%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Shelbyville, you may be able to get a good deal. 45.8% of homes here sold below asking price last month.

Summary: A total of 24 homes were sold or pending in Shelbyville in March 2024, up by 20.0% month-over-month. Of the 24 sold homes, 46% were sold under asking, 29% were sold at asking, and 25% were sold over asking.

Days on Market for Shelbyville, IN

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

Average Sale Time

Mar 2023Mar 2024CHANGE
116 Days52 Days-54.5%

Summary: Homes in Shelbyville had an average of 52 days on market in Mar 2024, down by 54.5% compared to last year.

Breakdown of Home Sale Times

17 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 24 homes were sold in Shelbyville; 71% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 21% 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 25 Days Ago

Newest Listings in Shelbyville, IN

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