47371 Housing Market Report February 2025•Jay County, Indiana

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Housing Prices in 47371, IN

How much do homes in 47371, IN cost?

Housing Market Conditions

Is 47371, 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

47371 is a Seller's Market

Difference Since January 2025

Last month, 47371 has remained a Seller's Market.

Insight

47371 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.
$150,250$68/SqFt
+$85,250
+131.2%

Based on all homes sold in February 2025

Insight

Homes in 47371 have sold for 131.2% more than they did a month ago.

Summary: The median home sold price in 47371 was $150,250 in February 2025, up 131.2% from last month, and the median price per square foot was $68.

Median Sold Price By Zip Codes

Median Sold Price By Zip Codes
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 MoM
47371
+131.2%
47369
+2.0%

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.
BedsJan 2025Feb 2025Change MoM
1-$89.5K
N/A
2$38K$58K
+52.6%
3$135K$145.5K
+7.8%
4$190K$172K
-9.5%
5-$155K
N/A

Summary: 47371 housing price by bedroom type for February 2025, compared to the previous month. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes increased by +52.6%. The home price for 3 bedroom homes increased by +7.8%. The home price for 4 bedroom homes decreased by -9.5%. The home price for 5 bedroom homes did not change.

How does 47371, IN compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

47371, IN

Housing supply in 47371, IN

How many homes are available in 47371, 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
21Last MonthFeb 2025
292 months agoJan 2025
-27.6 %
Change MoMJan – Feb

Summary: The 47371 real estate market had 21 homes for sale in Feb 2025, a 27.6 % decrease compared to Jan 2025.

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
8Last MonthFeb 2025
112 months agoJan 2025
-27.3 %
Change MoMJan – Feb

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.
BedsJan 2025Feb 2025Change MoM
101
+100.0%
274
-42.9%
31310
-23.1%
485
-37.5%
511
0.0%

Summary: 47371 housing inventory by bedroom type for February 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +100.0%. The inventory for 2 bedroom homes decreased by -42.9%. The inventory for 3 bedroom homes decreased by -23.1%. The inventory for 4 bedroom homes decreased by -37.5%. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in 47371, 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 Price4 Homes

At Asking Price2 Homes

Under Asking Price2 Homes

Insight

If you're buying a home in 47371, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 8 homes were sold or pending in 47371 in February 2025, down by 27.3% month-over-month. Of the 8 sold homes, 25% were sold under asking, 25% were sold at asking, and and 50% were sold over asking.

Days on Market for 47371, IN

How long does it take to sell a home in 47371, IN?

Breakdown of Home Sale Times

Under 30 Days1 Home

30 – 90 Days0 Home

Over 90 Days0 Home

Insight

Many homes in 47371 are selling fast, if you're buying plan to act quickly.

Summary: During February 2025, 8 homes were sold in 47371; 13% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
Last Month1 month agoChange MoM
19 DaysLast MonthFeb 2025
3 Days1 month agoJan 2025
+533.3 %
Change MoMJan – Feb

Summary: Homes in 47371 had an average listing age of 19 days in Feb 2025, up by 533.3% compared to the previous month.

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Newest Listings in 47371, IN

What homes are available in 47371, IN?

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Nearby markets aren't available for 47371, IN

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MLS Disclaimers and Copyright

Based on information from Indiana Regional MLS, for the period 01/01/2025 - 03/01/2025

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: 3/12/2025, 10:20:50 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.