Is Downtown, IN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Downtown was a Seller's Market.
Housing Prices in Downtown, IN
How much do homes in Downtown, IN cost?
Median Sold Price
$385,000
$250/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Downtown was $385,000 in May 2024, up 8.5% from last year, and the median price per square foot was $250.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $250K | $245K | -2.0% |
2 Bedrooms | $355K | $357K | +0.6% |
3 Bedrooms | $475K | $510K | +7.4% |
4 Bedrooms | $627K | $785K | +25.2% |
5+ Bedrooms | $341K | $1.3M | +288.5% |
Summary: Downtown housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2%, 2 bedroom homes increased by 0.6%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 25.2%, and 5+ bedroom homes increased by 288.5%.
Median Sold Price Compared To Nearby Neighborhoods
Downtown | $355K | $385K | +8.5% |
Indiana Avenue & Ransom Place | $378.5K | $207.5K | -45.2% |
Housing Supply in Downtown, IN
How many homes are available in Downtown, IN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
113 | 129 | +14.2% |
Summary: The Downtown real estate market had 129 homes for sale in May 2024, a 14.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 21 | 21 | 0.0% |
2 Bedrooms | 53 | 63 | +18.9% |
3 Bedrooms | 29 | 32 | +10.3% |
4 Bedrooms | 8 | 10 | +25.0% |
5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Downtown 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 18.9%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
11 | 15 | +36.4% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in Downtown in May 2024, up by 36.4% month-over-month. Of the 15 sold homes, 73% were sold under asking, 27% were sold at asking, and 0% were sold over asking.
Days on Market for Downtown, IN
How long does it take to sell a home in Downtown, IN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
49 Days | 75 Days | +54.0% |
Summary: Homes in Downtown had an average of 75 days on market in May 2024, up by 54% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During May 2024, 15 homes were sold in Downtown; 40% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.