New Albany, IN 47150 Real Estate Market Report
ZIP Code: 47150
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.
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
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.
Rental Market
Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.
Property Taxes
Liquidity & Velocity
Market Trends & Context
Understanding Market Temperature
A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.
Current Mortgage Rate Context
Market-level mortgage rate comparison for this area:
Current 30-year fixed mortgage rates in New Albany, IN are 6.38%, which is 0.51% higher than the 5.87% average rate available when typical loans in this area originated in February 2026.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
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The market value signal is centered on the median sold price 235,000, which serves as the primary indicator of realized market value and recent transaction activity; this level, together with observed sales patterns, suggests price appreciation consistent with local growth trends. up
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The relationship between the median listing price 231,500 and the median sold price 235,000 suggests sellers are generally achieving or slightly exceeding asking expectations, which may indicate limited pricing friction for competitively positioned listings, though this can vary by property condition and marketing strategy. up
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The median days on market 238 is materially long and points to slower sales velocity relative to rapid-turn markets; this extended time on market may indicate broader buyer deliberation or a shift toward a more balanced market despite upward price momentum, so underwriters and sellers should expect longer marketing windows. balanced
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Macro headwinds include interest rate pressure elevated relative to recent originations, which may temper buyer purchasing power and slow transaction turnover; combine this with a neutral market temperature to interpret near-term liquidity as more balanced than overheated. elevated
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.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold at market average
Sold below market average
Sold below market average
Sold below market average
Sold below market average
Sold below market average
New Albany, IN 47150 Real Estate Market Report
ZIP Code: 47150
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.
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
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.
Rental Market
Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.
Property Taxes
Liquidity & Velocity
Market Trends & Context
Understanding Market Temperature
A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.
Current Mortgage Rate Context
Market-level mortgage rate comparison for this area:
Current 30-year fixed mortgage rates in New Albany, IN are 6.38%, which is 0.51% higher than the 5.87% average rate available when typical loans in this area originated in February 2026.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
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The primary market signal is the median sold price: 279,900, which establishes recent transaction-based value and, together with the sample analysis, suggests pricing is supported by closed deals and upward pressure (up) in year-over-year price direction.
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Liquidity shows slower velocity: the median days on market: 387 is prolonged and may indicate increased time to transact despite demand, pointing to moderation in market pace rather than an acute collapse in activity.
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Valuation context is mixed: the median price per square foot: 182 alongside a median market rent: 890 suggests price levels that buyers are reconciling with local rental rates; this may create pricing friction for marginal buyers and investors evaluating cashflow versus purchase cost.
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Macro and financing headwinds are a caution: reported rates show a current 30-year fixed mortgage at 6.38%, which is 0.51% higher than the recent 5.87% benchmark when typical loans originated; combined with elevated interest rate pressure and a neutral market temperature, this may temper buyer willingness to chase higher price bands.
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.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold below market average
Sold at market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.3% rate, 0.7% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 5/1/2026
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