46561 Housing Market Report January 2025•Saint Joseph County, Indiana

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Housing Prices in 46561, IN

How much do homes in 46561, IN cost?

Housing Market Conditions

Is 46561, IN a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

46561 is a Seller's Market

Difference Since December 2024

Last month, 46561 has remained a Seller's Market.

Insight

46561 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$289,500$141/SqFt
-$50,400
-14.8%

Based on all homes sold in January 2025

Insight

Homes in 46561 have sold for 14.8% less than they did a month ago.

Summary: The median home sold price in 46561 was $289,500 in January 2025, down 14.8% from last month, and the median price per square foot was $141.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
46545
+4.8%
46514
+4.4%
46544
-11.4%
46517
-14.3%
46561
-14.8%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsDec 2024Jan 2025Change YoY
1--
N/A
2$167.7K$165K
-1.6%
3$259.9K$289.5K
+11.4%
4$460K$352K
-23.5%
5$602.3K-
N/A

Summary: 46561 housing price by bedroom type for January 2025, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes decreased by -1.6%. The home price for 3 bedroom homes increased by +11.4%. The home price for 4 bedroom homes decreased by -23.5%. The home price for 5 bedroom homes did not change.

Housing supply in 46561, IN

How many homes are available in 46561, IN?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
33Last MonthJan 2025
452 months agoDec 2024
-26.7 %
Change MoMDec – Jan

Summary: The 46561 real estate market had 33 homes for sale in Jan 2025, a 26.7 % decrease compared to Dec 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
9Last MonthJan 2025
232 months agoDec 2024
-60.9 %
Change MoMDec – Jan

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsDec 2024Jan 2025Change MoM
112
+100.0%
243
-25.0%
31915
-21.1%
41711
-35.3%
542
-50.0%

Summary: 46561 housing inventory by bedroom type for January 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +100.0%. The inventory for 2 bedroom homes decreased by -25.0%. The inventory for 3 bedroom homes decreased by -21.1%. The inventory for 4 bedroom homes decreased by -35.3%. The inventory for 5 bedroom homes decreased by -50.0%.

Asking Price vs. Sold Price

How much do homes in 46561, IN cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price2 Homes

At Asking Price1 Home

Under Asking Price4 Homes

Insight

If you're buying a home in 46561, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in 46561 in January 2025, down by 60.9% month-over-month. Of the 7 sold homes, 57% were sold under asking, 14% were sold at asking, and and 29% were sold over asking.

Days on Market for 46561, IN

We’re sorry, we don't have information for this market at the moment.

Home sale times aren’t available for this area.

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Newest Listings in 46561, IN

What homes are available in 46561, IN?

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MLS Disclaimers and Copyright

Based on information from Indiana Regional MLS, for the period 12/01/2024 - 02/01/2025

IDX The data on this website relating to real estate for sale comes in part from the Internet Data Exchange (IDX) program of the Indiana Regional MLS (IRMLS). IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS. ©2011-2025 Indiana Regional MLS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/4/2025, 4:20:49 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.