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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing New Castle is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

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

+$26,251(+23.1%)

Key Takeaway

Homes in New Castle have sold for 23.1% more than they did a year ago.

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

# BEDSMay 2023May 2024CHANGE
1 -$100K
N/A
2 $81.5K$97.5K
+19.6%
3 $127K$154.4K
+21.6%
4 $174.9K$192.9K
+10.3%
5+ $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
+23.1%
Henry Township
+17.7%
Franklin Township
+2.2%

Housing Supply in New Castle, IN

How many homes are available in New Castle, IN?

Number of Homes For Sale

Apr 2024May 2024CHANGE
90112+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

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 2938
+31.0%
3 4346
+7.0%
4 1423
+64.3%
5+ 45
+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 2024May 2024CHANGE
2736+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New Castle, you may be able to get a good deal. 50% of homes here sold below asking price last month.

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 2023May 2024CHANGE
20 Days22 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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