New Albany, IN 47150 Real Estate Market Report

Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Market Metrics

The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Rental Market

Property Taxes

Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

Market Trends & Context

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. The neighborhood's primary market-value indicator, median sold price, is 200,900, which represents the most reliable signal of recent transaction activity and should be prioritized over asking prices when valuing SFR and condo offerings.
2. There is a meaningful gap between the median listing price (235,000) and the median sold price (200,900), which may indicate moderate pricing friction as seller expectations outpace recent transaction levels and could require negotiated concessions to close deals.
3. With a median days on market of 324, sales velocity appears slow and suggests reduced liquidity; coupled with the sample's elevated inventory context, this points to a market that appears balanced overall rather than strongly one-sided, consistent with the reported market temperature of neutral.
4. Interest rate pressure is elevated and the market notes that Current 30-year fixed mortgage rates in New Albany, IN are averaging 6.53%, which, alongside a rising rent trend and a median market rent of 1,050, may constrain affordability for buyers while supporting rent growth; under elevated rates, expect longer listing periods and more price sensitivity among buyers.

Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.