Is New Castle, IN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, New Castle has remained a Seller's Market.
Housing Prices in New Castle, IN
How much do homes in New Castle, IN cost?
Median Sold Price
$140,000
$89/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in New Castle was $140,000 in May 2024, up 23.1% from last year, and the median price per square foot was $89.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $100K | N/A |
2 Bedrooms | $81.5K | $97.5K | +19.6% |
3 Bedrooms | $127K | $154.4K | +21.6% |
4 Bedrooms | $174.9K | $192.9K | +10.3% |
5+ Bedrooms | $232K | $310K | +33.6% |
Summary: New Castle housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 19.6%, 3 bedroom homes increased by 21.6%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes increased by 33.6%.
Median Sold Price Compared To Nearby Cities
New Castle | $113.7K | $140K | +23.1% |
Henry Township | $114.6K | $135K | +17.7% |
Franklin Township | $263K | $268.8K | +2.2% |
Housing Supply in New Castle, IN
How many homes are available in New Castle, IN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
90 | 112 | +24.4% |
Summary: The New Castle real estate market had 112 homes for sale in May 2024, a 24.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 29 | 38 | +31.0% |
3 Bedrooms | 43 | 46 | +7.0% |
4 Bedrooms | 14 | 23 | +64.3% |
5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The New Castle housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 31%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 64.3%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
27 | 36 | +33.3% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 36 homes were sold or pending in New Castle in May 2024, up by 33.3% month-over-month. Of the 36 sold homes, 50% were sold under asking, 14% were sold at asking, and 36% were sold over asking.
Days on Market for New Castle, IN
How long does it take to sell a home in New Castle, IN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
20 Days | 22 Days | +9.8% |
Summary: Homes in New Castle had an average of 22 days on market in May 2024, up by 9.8% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 36 homes were sold in New Castle; 58% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.