OfferBackedBuyer Tools

Is Spiceland, IN 47385 a buyer’s or seller’s market?

Buyer’s market 3 months ending August 31, 2026 · Source: Redfin

Spiceland is a buyer’s market. With about 9.6 months of supply, buyers usually have more time and more room to negotiate on price and terms.

Months of supply9.6Under 4 months = seller’s market
Sold above original list0%Share of sales, last 3 months
Median sale-to-list90.5%Sold price ÷ list price
Median days on market18Listing to accepted offer
Median price per sq ft$161▲ +58.1% vs. last year

The Spiceland housing market right now

In the three months ending August 31, 2026, 0% of homes in Spiceland, IN 47385 sold above their list price, the typical home went under contract in 18 days and there were 9.6 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 2 sales, these figures can swing a lot from month to month.

Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold more slowly (12 days then) and the median sale price fell 17% to $196,915. Overall, Spiceland is about as competitive as it was a year ago.

Within Henry County, homes here sell faster than in 67% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.

Nearby, Springport 47386 (50% sold over asking) and Kennard 47351 (33% sold over asking) are even more competitive.

Run the numbers for 47385

Prefilled for 47385Can I win this house?Multiple-offer likelihood for a listing Prefilled for 47385Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Kennard 47351Seller’s market $131 /sq ftKnightstown 46148Balanced $128 /sq ftLewisville 47352 $83 /sq ftMiddletown 47356Seller’s market $124 /sq ft Browse all markets →

Towns like Spiceland nearby

Find towns like Spiceland in other states →
Fountain City, IN47341 · 30 miles away73% similarcheaper homes ($53K less) · newer homes Arcadia, IN46030 · 40 miles away72% similarpricier homes ($35K more) · larger Shirley, IN47384 · 7 miles away71% similarlower income ($29K less) · cheaper homes ($53K less) Lapel, IN46051 · 28 miles away71% similarlower income ($25K less) · larger

Where Spiceland is

Loading map…

Questions about Spiceland real estate

Is Spiceland a buyer’s or seller’s market?

A buyer’s market: there were 9.6 months of supply in Spiceland, IN 47385 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 Spiceland?

The typical home went under contract in 18 days in the latest three months.

Do homes in Spiceland sell over asking?

0% of homes sold above their original list price, and the typical sale closed at 90.5% of the list price.

What are property taxes in Spiceland?

About 0.73% of a home’s value a year in Henry County, or roughly $2,920 on a $400,000 home.

What is the median home price in Spiceland?

The median sale price was $196,915 in the three months ending August 31, 2026, about $161 per square foot.

Local agents

See all agents in 47385 →

No sponsored agents in 47385 yet. Are you an agent here? Put your name in front of local buyers.

Save this ZIP (free account)

More tools for 47385

Competition score Buyer leverage Negotiation room Compare with other ZIP codes True cost to buy Property taxes Closing costs Cash buyers Backup offer odds Home value Henry County property taxesHenry County loan limitsClosing costs in IndianaHottest ZIP codes in Indiana
Add this to your website

Free to use. Paste this code where you want the live widget to appear. It updates automatically. More widgets

Sizes itself to fit. If your site builder removes scripts, use “iframe only”.

Preview

Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology