New Albany, IN 47150 Real Estate Market Report

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

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Executive Overview

As of February 2026, the real estate market in New Albany, IN is characterized by a median sold price of $219,900, reflecting a stable market despite the 117 days on market indicating a slower sales velocity. The neighborhood has increased up since 2023, suggesting a resilient demand for properties. The median listing price stands at $239,000, highlighting a notable pricing gap that may indicate seller expectations are higher than current market realities. This discrepancy could lead to pricing friction as buyers navigate their options in a market that remains hot overall.

Inventory conditions show elevated levels, with a notable excess supply relative to sales activity. This dynamic, combined with the median market rent of $1,395, suggests that rental demand remains strong, further supporting the overall economic activity in the Louisville MSA. However, the elevated interest rate pressure may impact future buyer sentiment and financing opportunities, potentially moderating growth as we move further into 2026.

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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

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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 in the New Albany IN area average around 6.07% compared to 6.57% one month ago, indicating a slight cost opportunity for new financing.

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 $219,900 reflects a stable market with recent sales activity indicating resilience despite slower transaction volume.

2. With a median days on market of 117, the market is experiencing slower sales velocity, which may suggest a need for price adjustments by sellers.

3. The median listing price of $239,000 indicates a significant gap compared to the sold price, which could create pricing friction in negotiations.

4. The median market rent of $1,395 suggests strong rental demand, supporting overall market stability and economic activity in the region.

5. Elevated interest rate pressure may impact buyer financing options, suggesting a cautious outlook for future sales momentum.

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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.