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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Speedway is a seller's market

Buyer's
Market

Difference Since August 2023

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

Key Takeaway

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

Housing Prices in Speedway, IN

How much do homes in Speedway, IN cost?

Median Sold Price

$250,000

$126/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2023

+$8,500(+3.5%)

Key Takeaway

Homes in Speedway have sold for 3.5% more than they did a year ago.

Summary: The median home sold price in Speedway was $250,000 in August 2024, up 3.5% from last year, and the median price per square foot was $126.

Median Sold Price By Bedroom Count

# BEDSAug 2023Aug 2024CHANGE
1 $239.9K-
N/A
2 $215K$229.9K
+6.9%
3 $242.2K$257.4K
+6.3%
4 $279K$346K
+24.0%
5+ $430K$337.5K
-21.5%

Summary: Speedway housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.9%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 24%, and 5+ bedroom homes decreased by 21.5%.

Median Sold Price Compared To Nearby Cities

Wayne Township
+4.8%
Indianapolis
+4.2%
Speedway
+3.5%

Housing Supply in Speedway, IN

How many homes are available in Speedway, IN?

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
4044+10.0%

Summary: The Speedway real estate market had 44 homes for sale in August 2024, a 10.0% increase compared to July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 12
+100.0%
2 1110
-9.1%
3 1919
0.0%
4 67
+16.7%
5+ 36
+100.0%

Summary: The Speedway housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 9.1%, 3 bedroom homes remained the same, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
1213+8.3%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Speedway, you may be able to get a good deal. 38.5% of homes here sold below asking price last month.

Summary: A total of 13 homes were sold or pending in Speedway in August 2024, up by 8.3% month-over-month. Of the 13 sold homes, 38% were sold under asking, 38% were sold at asking, and 23% were sold over asking.

Days on Market for Speedway, IN

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

Average Sale Time

Aug 2023Aug 2024CHANGE
6 Days14 Days+132.1%

Summary: Homes in Speedway had an average of 14 days on market in Aug 2024, up by 132.1% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During August 2024, 13 homes were sold in Speedway; 77% of homes were sold within 30 days, 23% 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 6 Days Ago

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