Is Evanston, IN 47531 a buyer’s or seller’s market?

3 months ending August 31, 2026 · Source: Redfin

Evanston is a balanced market. With about null months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.

Months of supply—Under 4 months = seller’s market

Sold above original list—Share of sales, last 3 months

Median sale-to-list—Sold price ÷ list price

Median days on market—Listing to accepted offer

Median price per sq ft—

The Evanston housing market right now

There haven’t been enough recent sales here for a detailed summary yet.

About the area

Spencer County, IN

Population	868
Median income	$140,595
Average income	$133,057
Median home value	$240,500
Owner-occupied	94% of homes
Median year built	1968

Natural hazard riskTornadoes (relatively high), earthquakes (moderate), extreme heat (moderate)

Source: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates (household income; home value as estimated by owners), ZIP code tabulation area 47531; hazard risk from the FEMA National Risk Index for the census tracts in this ZIP code (not endorsed by FEMA).

Run the numbers for 47531

Prefilled for 47531Can I win this house?Multiple-offer likelihood for a listing Prefilled for 47531Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Chrisney 47611Seller’s market $125 /sq ft Gentryville 47537 — /sq ft Grandview 47615Buyer’s market $299 /sq ft Lamar 47550Seller’s market $112 /sq ft Browse all markets →

Where Evanston is

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Questions about Evanston real estate

What are property taxes in Evanston?

About 0.62% of a home’s value a year in Spencer County, or roughly $2,480 on a $400,000 home.

Local agents

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More tools for 47531

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 Spencer County property taxes Spencer County loan limits Closing costs in Indiana Hottest ZIP codes in Indiana

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