New Albany, IN 47150 Real Estate Market Report

ZIP Code: 47150
Report Date: March 2026
Market Temperature: HOT
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The median sold price in New Albany, IN is $215,000, reflecting a market that has seen mild price appreciation recently. This upward trend indicates a healthy demand for housing, supported by economic growth in sectors like manufacturing and healthcare. The market is currently characterized by elevated inventory levels, suggesting that while there is a robust demand, the supply is also improving, leading to a potential balance in market dynamics.

With a median days on market of 139 days, the market is experiencing a slower sales velocity, which may indicate that buyers are taking more time to make purchasing decisions. The median listing price stands at $239,950, which presents a notable gap compared to the sold price, suggesting some pricing friction as sellers adjust their expectations to align with current market realities. Overall, the market temperature remains hot, indicating strong buyer interest despite the elevated interest rate pressure, which is currently at 6.38% for 30-year fixed mortgages.

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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.

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Market Metrics

Note: 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.

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Rental Market

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Property Taxes

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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.

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Market Trends & Context

Understanding Market Temperature

A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates near New Albany, IN are averaging 6.38% as of late March 2026, which is 0.15% higher than the 6.23% average seen earlier in March 2026.

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

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Key Findings

1. The median sold price of $215,000 suggests a stable market with ongoing demand despite elevated interest rates.

2. With a median listing price of $239,950, there is a noticeable pricing gap that may indicate pricing friction as sellers adjust to market conditions.

3. A median days on market of 139 days reflects a slower sales velocity, suggesting buyers are taking longer to finalize purchases.

4. The market temperature is classified as hot, indicating strong buyer interest and increasing demand for properties in the area.

5. The median market rent is $1,395, which may attract investors looking for rental opportunities in a growing economic environment.

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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.