Is Norman, IN 47264 a buyer’s or seller’s market?
Norman is a balanced market. With about 4.8 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
The Norman housing market right now
In the three months ending August 31, 2026, 50% of homes in Norman, IN 47264 sold above their list price, the typical home went under contract in 39 days and there were 4.8 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. With only 2 sales, these figures can swing a lot from month to month.
Within Jackson County, homes here sell more slowly than in 67% of the county’s ZIP codes, and sell more often over asking than in any other ZIP code in the county.
Nearby, buyers who want less competition could look at Vallonia 47281 (0% sold over asking) or Medora 47260 (0% sold over asking).
Run the numbers for 47264
Nearby markets
Brownstown 47220Seller’s market $106 /sq ftCrothersville 47229Seller’s market $128 /sq ftFreetown 47235Balanced $182 /sq ftMedora 47260Buyer’s market $102 /sq ft Browse all markets →Towns like Norman nearby
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Questions about Norman real estate
Is Norman a buyer’s or seller’s market?
A balanced market: there were 4.8 months of supply in Norman, IN 47264 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Norman?
The typical home went under contract in 39 days in the latest three months.
Do homes in Norman sell over asking?
50% of homes sold above their original list price, and the typical sale closed at 98.6% of the list price.
What are property taxes in Norman?
About 0.49% of a home’s value a year in Jackson County, or roughly $1,960 on a $400,000 home.
What is the median home price in Norman?
The median sale price was $360,844 in the three months ending August 31, 2026, about $239 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology