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 May 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

$249,000

$123/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$9,000(+3.8%)

Key Takeaway

Homes in Speedway have sold for 3.8% more than they did a year ago.

Summary: The median home sold price in Speedway was $249,000 in May 2024, up 3.8% from last year, and the median price per square foot was $123.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $239.9K-
N/A
2 $215.4K$215K
-0.2%
3 $240.5K$250K
+4.0%
4 $279.5K$333.7K
+19.4%
5+ $430K$315K
-26.7%

Summary: Speedway 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 decreased by 0.2%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 19.4%, and 5+ bedroom homes decreased by 26.7%.

Median Sold Price Compared To Nearby Cities

Wayne Township
+5.2%
Speedway
+3.8%
Indianapolis
+2.1%

Housing Supply in Speedway, IN

How many homes are available in Speedway, IN?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3328-15.2%

Summary: The Speedway real estate market had 28 homes for sale in May 2024, a 15.2% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 65
-16.7%
3 1613
-18.8%
4 76
-14.3%
5+ 44
0.0%

Summary: The Speedway 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 decreased by 16.7%, 3 bedroom homes decreased by 18.8%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
1412-14.3%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

1 Home Was 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. 66.7% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in Speedway in May 2024, down by 14.3% month-over-month. Of the 12 sold homes, 67% were sold under asking, 8% were sold at asking, and 25% 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

May 2023May 2024CHANGE
18 Days26 Days+45.5%

Summary: Homes in Speedway had an average of 26 days on market in May 2024, up by 45.5% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

5 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 May 2024, 12 homes were sold in Speedway; 58% of homes were sold within 30 days, 42% 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 1 Day Ago

Newest Listings in Speedway, IN

Nearby Markets to Speedway, IN

What housing markets are near Speedway, IN?