New Albany, IN 47150 Real Estate Market Report

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

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Executive Overview

The median sold price in New Albany, IN is $220,450, reflecting a stable market environment. Although there is no historical sold price change percentage available, the current market conditions indicate modest home price appreciation, suggesting continued seller influence. The market is characterized by 116 days on market, which indicates a slower sales velocity compared to previous periods, potentially signaling a shift from the peak frenzy experienced in prior years. Elevated inventory levels are present, suggesting a relative excess supply compared to sales activity, which may impact pricing dynamics moving forward.

In terms of rental activity, the median market rent stands at $1,395, showing a consistent upward trend. This increase in rental rates, coupled with a neutral market temperature, indicates that while demand remains steady, it is not accelerating significantly. The current interest rate pressure is moderate, with 30-year fixed mortgage rates around 6.13%, which is lower than earlier in 2026, presenting refinancing opportunities for existing homeowners. Overall, the market appears to be stabilizing, with signs of both price resilience and a need for sellers to adjust expectations in light of changing demand dynamics.

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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 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, around 6.13% are lower than the 7% rates seen earlier in 2026, presenting a cost opportunity for refinancing property loans.

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 $220,450 indicates a stable market, though the absence of historical price change data limits deeper analysis.

2. With 116 days on market, the market is experiencing slower sales velocity, suggesting a potential shift in buyer engagement.

3. Elevated inventory levels suggest excess supply relative to sales activity, which may impact future pricing strategies for sellers.

4. The median market rent of $1,395 reflects a steady increase, indicating sustained demand in the rental sector.

5. Current interest rate pressure is moderate, with mortgage rates around 6.13%, providing potential refinancing opportunities for homeowners.

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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.