Is Farmland, IN 47340 a buyer’s or seller’s market?
Farmland is a seller’s market. With about 3.2 months of supply and 40% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
The Farmland housing market right now
In the three months ending August 31, 2026, 40% of homes in Farmland, IN 47340 sold above their list price, the typical home went under contract in 5 days and there were 3.2 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 5 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking fell from 50%, homes sold about as fast and the median sale price rose 34% to $273,382. Overall, Farmland is less competitive than a year ago, which gives buyers more room.
Within Randolph County, homes here sell faster than in any other ZIP code in the county, and sell more often over asking than in 86%.
Nearby, buyers who want less competition could look at Ridgeville 47380 (0% sold over asking) or Parker City 47368 (0% sold over asking), while Modoc 47358 (100% sold over asking) is even more competitive.
Run the numbers for 47340
Nearby markets
Losantville 47354Seller’s market $98 /sq ftLynn 47355Seller’s market $84 /sq ftModoc 47358Buyer’s market $145 /sq ftParker City 47368Seller’s market $149 /sq ft Browse all markets →Towns like Farmland nearby
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Questions about Farmland real estate
Is Farmland a buyer’s or seller’s market?
A seller’s market: there were 3.2 months of supply in Farmland, IN 47340 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 Farmland?
The typical home went under contract in 5 days in the latest three months.
Do homes in Farmland sell over asking?
40% of homes sold above their original list price, and the typical sale closed at 100.9% of the list price.
What are property taxes in Farmland?
About 0.79% of a home’s value a year in Randolph County, or roughly $3,160 on a $400,000 home.
What is the median home price in Farmland?
The median sale price was $273,382 in the three months ending August 31, 2026, about $139 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